Brokerages Expect Donegal Group Inc. (DGICA) to Announce $0.39 EPS

Shares of Donegal Group Inc. (NASDAQ:DGICA) have received an average broker rating score of 1.50 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and one has assigned a strong buy rating to the company. Donegal Group’s rating score has improved by 50% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a 1 year consensus price target of $19.00 for the company and are anticipating that the company will post $0.39 earnings per share for the current quarter, according to Zacks. Zacks has also given Donegal Group an industry rank of 65 out of 265 based on the ratings given to its competitors.

A number of analysts have recently issued reports on the stock. TheStreet upgraded shares of Donegal Group from a “c+” rating to a “b-” rating in a report on Friday, October 20th. Zacks Investment Research upgraded shares of Donegal Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 19th. Boenning Scattergood upgraded shares of Donegal Group from a “neutral” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Tuesday, October 31st. Keefe, Bruyette & Woods upgraded shares of 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, November 1st. Finally, BidaskClub downgraded shares of Donegal Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th.

Shares of Donegal Group (DGICA) traded up $0.20 on Wednesday, reaching $17.70. 45,130 shares of the company’s stock were exchanged, compared to its average volume of 32,857. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.42 and a current ratio of 0.42. Donegal Group has a 1 year low of $14.51 and a 1 year high of $18.25. The company has a market capitalization of $464.31, a price-to-earnings ratio of 32.18 and a beta of 0.30.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.04. Donegal Group had a net margin of 2.13% and a return on equity of 2.81%. The firm had revenue of $185.72 million for the quarter, compared to analyst estimates of $187.60 million. research analysts forecast that Donegal Group will post 0.65 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.56 annualized dividend and a yield of 3.16%. Donegal Group’s dividend payout ratio is 101.82%.

In other Donegal Group news, Director Patricia A. Gilmartin sold 5,333 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $17.17, for a total transaction of $91,567.61. Following the completion of the transaction, the director now owns 13,562 shares of the company’s stock, valued at $232,859.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack Lee Hess bought 2,000 shares of the stock in a transaction on Thursday, November 2nd. The shares were acquired at an average cost of $16.78 per share, with a total value of $33,560.00. Following the purchase, the director now owns 4,489 shares of the company’s stock, valued at approximately $75,325.42. The disclosure for this purchase can be found here. Insiders have purchased 4,000 shares of company stock valued at $68,040 in the last ninety days. 11.90% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in DGICA. OLD Republic International Corp increased its stake in shares of Donegal Group by 103.9% in the third quarter. OLD Republic International Corp now owns 477,100 shares of the insurance provider’s stock valued at $7,696,000 after buying an additional 243,100 shares during the period. Dimensional Fund Advisors LP increased its position in 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 purchasing an additional 33,628 shares during the period. Wells Fargo & Company MN increased its position in Donegal Group by 5.9% during the 2nd quarter. Wells Fargo & Company MN now owns 403,419 shares of the insurance provider’s stock valued at $6,414,000 after purchasing an additional 22,511 shares during the period. Northern Trust Corp increased its position in Donegal Group by 14.1% during the 2nd quarter. Northern Trust Corp now owns 135,447 shares of the insurance provider’s stock valued at $2,154,000 after purchasing an additional 16,696 shares during the period. Finally, First Eagle Investment Management LLC increased its position in Donegal Group by 22.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 62,200 shares of the insurance provider’s stock valued at $1,003,000 after purchasing an additional 11,497 shares during the period. 29.27% of the stock is owned by institutional investors.

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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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