Donegal Group, Inc. (NASDAQ:DGICA) – Analysts at Boenning Scattergood cut their Q3 2017 earnings per share estimates for Donegal Group in a research note issued on Thursday. Boenning Scattergood analyst R. Farnam now forecasts that the insurance provider will post earnings of $0.14 per share for the quarter, down from their prior estimate of $0.20. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Donegal Group’s FY2017 earnings at $0.49 EPS and FY2019 earnings at $1.30 EPS.

Several other analysts have also commented on the stock. Zacks Investment Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Keefe, Bruyette & Woods set a $18.00 price objective on shares of Donegal Group and gave the stock a “hold” rating in a research report on Thursday, August 17th. TheStreet lowered shares of Donegal Group from a “b-” rating to a “c+” rating in a research report on Wednesday, August 9th. Finally, BidaskClub raised shares of Donegal Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $18.00.

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Donegal Group (NASDAQ:DGICA) last issued its earnings results on Wednesday, July 19th. The insurance provider reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.04). The firm had revenue of $182.48 million during the quarter, compared to the consensus estimate of $185.20 million. Donegal Group had a net margin of 1.84% and a return on equity of 2.24%.

Several hedge funds and other institutional investors have recently bought and sold shares of DGICA. Kennedy Capital Management Inc. raised its position in shares of Donegal Group by 31.6% in the second quarter. Kennedy Capital Management Inc. now owns 579,157 shares of the insurance provider’s stock valued at $9,209,000 after purchasing an additional 139,027 shares during the period. Geode Capital Management LLC raised its position in shares of Donegal Group by 164.0% in the first quarter. Geode Capital Management LLC now owns 162,857 shares of the insurance provider’s stock valued at $2,869,000 after purchasing an additional 101,177 shares during the period. OLD Republic International Corp raised its position in shares of Donegal Group by 37.6% in the second quarter. OLD Republic International Corp now owns 234,000 shares of the insurance provider’s stock valued at $3,721,000 after purchasing an additional 64,000 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Donegal Group by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,637,594 shares of the insurance provider’s stock valued at $26,038,000 after purchasing an additional 33,628 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of Donegal Group by 37.7% in the second quarter. Janney Montgomery Scott LLC now owns 99,092 shares of the insurance provider’s stock valued at $1,576,000 after purchasing an additional 27,133 shares during the period. 29.48% of the stock is currently owned by institutional investors.

About Donegal Group

Donegal Group Inc (DGI) is an insurance holding company whose insurance subsidiaries offer personal and commercial lines of property and casualty insurance. The Company offered its insurance business to various businesses and individuals in 21 Mid-Atlantic, Midwestern, New England and Southern states, as of December 31, 2016.

Earnings History and Estimates for Donegal Group (NASDAQ:DGICA)

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