Donegal Group (DGICA) Rating Lowered to Sell at BidaskClub

Donegal Group (NASDAQ:DGICA) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Several other research analysts have also issued reports on the company. Zacks Investment Research raised Donegal Group from a “sell” rating to a “hold” rating and set a $20.00 target price for the company in a research report on Wednesday, November 1st. Keefe, Bruyette & Woods upgraded Donegal Group from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Wednesday, November 1st. Boenning Scattergood upgraded Donegal Group from a “neutral” rating to an “outperform” rating and set a $19.00 price target for the company in a report on Tuesday, October 31st. Finally, TheStreet upgraded Donegal Group from a “c+” rating to a “b-” rating in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $19.67.

Donegal Group (NASDAQ DGICA) opened at $17.51 on Thursday. The stock has a market capitalization of $482.22, a price-to-earnings ratio of 30.72 and a beta of 0.30. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.16. Donegal Group has a 12-month low of $14.51 and a 12-month high of $18.25.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Monday, October 30th. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The business had revenue of $185.72 million during the quarter, compared to analyst estimates of $187.60 million. Donegal Group had a return on equity of 6.39% and a net margin of 3.84%. equities research analysts anticipate that Donegal Group will post 0.65 earnings per share for the current year.

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

Several institutional investors and hedge funds have recently modified their holdings of DGICA. Russell Investments Group Ltd. grew its stake in shares of Donegal Group by 45.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,636 shares of the insurance provider’s stock valued at $121,000 after buying an additional 2,400 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Donegal Group in the 4th quarter valued at about $146,000. Rhumbline Advisers grew its stake in shares of Donegal Group by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 11,052 shares of the insurance provider’s stock valued at $176,000 after buying an additional 40 shares during the period. Hancock Holding Co. grew its stake in shares of Donegal Group by 4.4% in the 2nd quarter. Hancock Holding Co. now owns 11,470 shares of the insurance provider’s stock valued at $182,000 after buying an additional 480 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Donegal Group by 78.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,817 shares of the insurance provider’s stock valued at $189,000 after buying an additional 5,203 shares during the period. Institutional investors own 29.27% of the company’s stock.

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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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