Zacks: Brokerages Set $19.00 Target Price for Donegal Group Inc. (DGICA)

Donegal Group Inc. (NASDAQ:DGICA) has been given an average 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.

Analysts have set a 1 year consensus price objective of $19.00 for the company and are predicting that the company will post $0.39 EPS for the current quarter, according to Zacks. Zacks has also assigned Donegal Group an industry rank of 52 out of 265 based on the ratings given to its competitors.

A number of brokerages recently commented on DGICA. BidaskClub lowered shares of Donegal Group from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Zacks Investment Research upgraded shares of Donegal Group from a “sell” rating to a “hold” rating and set a $20.00 price target on the stock in a research note on Wednesday, November 1st. Keefe, Bruyette & Woods upgraded shares of Donegal Group from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research note on Wednesday, November 1st. Boenning Scattergood upgraded shares of Donegal Group from a “neutral” rating to an “outperform” rating and set a $19.00 price target on the stock in a research note on Tuesday, October 31st. Finally, TheStreet upgraded shares of Donegal Group from a “c+” rating to a “b-” rating in a research note on Friday, October 20th.

Several large investors have recently made changes to their positions in DGICA. Schwab Charles Investment Management Inc. grew its position in shares of Donegal Group by 0.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 40,211 shares of the insurance provider’s stock worth $640,000 after purchasing an additional 323 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of 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 acquiring an additional 40 shares during the period. Swiss National Bank lifted its holdings in shares of Donegal Group by 34.0% during the 2nd quarter. Swiss National Bank now owns 20,900 shares of the insurance provider’s stock worth $332,000 after acquiring an additional 5,300 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of 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 acquiring an additional 1,500 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Donegal Group by 14.1% during the 2nd quarter. Northern Trust Corp now owns 135,447 shares of the insurance provider’s stock worth $2,154,000 after acquiring an additional 16,696 shares during the period. Hedge funds and other institutional investors own 29.46% of the company’s stock.

Shares of Donegal Group (DGICA) traded down $0.12 on Wednesday, reaching $16.28. 14,800 shares of the company were exchanged, compared to its average volume of 26,512. Donegal Group has a twelve month low of $14.51 and a twelve month high of $18.25. The firm has a market cap of $449.85, a price-to-earnings ratio of 28.56 and a beta of 0.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.42 and a current ratio of 0.42.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.56 dividend on an annualized basis and a yield of 3.44%. Donegal Group’s dividend payout ratio (DPR) is currently 98.25%.

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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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