Donegal Group Inc. (DGICA) Receives Consensus Rating of “Buy” from Analysts

Shares of Donegal Group Inc. (NASDAQ:DGICA) have been given a consensus broker rating score of 1.50 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and one has given a strong buy rating to the company.

Brokerages have set a 1 year consensus price objective of $19.00 for the company and are expecting 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 45 out of 265 based on the ratings given to its competitors.

Several equities research analysts have recently weighed in on DGICA shares. BidaskClub lowered Donegal Group from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Keefe, Bruyette & Woods upgraded Donegal Group from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Wednesday, November 1st. Zacks Investment Research upgraded Donegal Group from a “sell” rating to a “hold” rating and set a $20.00 price objective on the stock in a research note on Wednesday, November 1st. Boenning Scattergood upgraded Donegal Group from a “neutral” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research note on Tuesday, October 31st. Finally, TheStreet upgraded Donegal Group from a “c+” rating to a “b-” rating in a research note on Friday, October 20th.

In other Donegal Group news, Director Jack Lee Hess purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $33,560.00. Following the transaction, the director now directly owns 4,489 shares in the company, valued at $75,325.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patricia A. Gilmartin sold 5,333 shares of the stock in a transaction that occurred on 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 in the company, valued at $232,859.54. The disclosure for this sale can be found here. Over the last quarter, insiders bought 4,000 shares of company stock worth $68,040. Corporate insiders own 11.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in Donegal Group during the 4th quarter worth $146,000. Rhumbline Advisers lifted its holdings in Donegal Group by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 11,052 shares of the insurance provider’s stock worth $176,000 after buying an additional 40 shares in the last quarter. Hancock Holding Co. lifted its holdings in Donegal Group by 4.4% during the 2nd quarter. Hancock Holding Co. now owns 11,470 shares of the insurance provider’s stock worth $182,000 after buying an additional 480 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Donegal Group by 78.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,817 shares of the insurance provider’s stock worth $189,000 after buying an additional 5,203 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Donegal Group by 8.3% during the 2nd quarter. Alliancebernstein L.P. now owns 19,654 shares of the insurance provider’s stock worth $312,000 after buying an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 29.27% of the company’s stock.

Shares of Donegal Group (NASDAQ:DGICA) traded down $0.07 on Friday, reaching $17.51. The company had a trading volume of 39,178 shares, compared to its average volume of 25,047. Donegal Group has a 1 year low of $14.51 and a 1 year high of $18.25. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $482.22, a price-to-earnings ratio of 30.72 and a beta of 0.30.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be paid a $0.14 dividend. The ex-dividend date is Wednesday, January 31st. This represents a $0.56 annualized dividend and a dividend yield of 3.20%. Donegal Group’s dividend payout ratio is currently 98.25%.

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Donegal Group Company Profile

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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