Research Analysts Set Expectations for Donegal Group, Inc.’s FY2017 Earnings (DGICA)
Donegal Group, Inc. (NASDAQ:DGICA) – Equities researchers at Boenning Scattergood boosted their FY2017 earnings per share estimates for Donegal Group in a report released on Tuesday. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will earn $0.65 per share for the year, up from their prior forecast of $0.49. Boenning Scattergood has a “Outperform” rating and a $19.00 price objective on the stock.
DGICA has been the topic of a number of other reports. Keefe, Bruyette & Woods raised Donegal Group from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Wednesday. Zacks Investment Research raised Donegal Group from a “sell” rating to a “hold” rating in a report on Wednesday. TheStreet raised Donegal Group from a “c+” rating to a “b-” rating in a report on Friday, October 20th. Finally, BidaskClub lowered Donegal Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $19.50.
Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Donegal Group had a return on equity of 2.82% and a net margin of 2.13%. The firm had revenue of $185.72 million for the quarter, compared to the consensus estimate of $187.60 million.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.56 annualized dividend and a yield of 3.27%. Donegal Group’s dividend payout ratio (DPR) is presently 98.25%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DGICA. OLD Republic International Corp boosted its stake in Donegal Group by 103.9% in the 3rd quarter. OLD Republic International Corp now owns 477,100 shares of the insurance provider’s stock valued at $7,696,000 after purchasing an additional 243,100 shares during the period. Kennedy Capital Management Inc. lifted its position in shares of Donegal Group by 31.6% during the 2nd quarter. Kennedy Capital Management Inc. now owns 579,157 shares of the insurance provider’s stock valued at $9,209,000 after acquiring an additional 139,027 shares during the period. Geode Capital Management LLC lifted its position in shares of Donegal Group by 164.0% during the 1st quarter. Geode Capital Management LLC now owns 162,857 shares of the insurance provider’s stock valued at $2,869,000 after acquiring an additional 101,177 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Donegal Group by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,637,594 shares of the insurance provider’s stock valued at $26,038,000 after acquiring an additional 33,628 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in shares of Donegal Group by 37.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 99,092 shares of the insurance provider’s stock valued at $1,576,000 after acquiring an additional 27,133 shares during the period. Institutional investors and hedge funds own 29.48% of the company’s stock.
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.
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