Deprince Race & Zollo Inc. decreased its position in Donegal Group Inc. (NASDAQ:DGICA) by 19.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 414,115 shares of the insurance provider’s stock after selling 102,628 shares during the period. Deprince Race & Zollo Inc. owned approximately 1.45% of Donegal Group worth $6,324,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Donegal Group by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,793,905 shares of the insurance provider’s stock valued at $24,478,000 after buying an additional 8,491 shares during the last quarter. Kennedy Capital Management Inc. increased its stake in Donegal Group by 8.8% during the first quarter. Kennedy Capital Management Inc. now owns 875,012 shares of the insurance provider’s stock worth $11,769,000 after acquiring an additional 70,726 shares during the last quarter. OLD Republic International Corp boosted its position in shares of Donegal Group by 7.9% in the second quarter. OLD Republic International Corp now owns 664,500 shares of the insurance provider’s stock worth $10,147,000 after buying an additional 48,400 shares during the period. Renaissance Technologies LLC boosted its position in shares of Donegal Group by 6.2% in the second quarter. Renaissance Technologies LLC now owns 530,209 shares of the insurance provider’s stock worth $8,096,000 after buying an additional 31,000 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Donegal Group by 3.6% in the second quarter. Northern Trust Corp now owns 140,294 shares of the insurance provider’s stock worth $2,142,000 after buying an additional 4,845 shares during the period. 30.63% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on DGICA shares. ValuEngine downgraded Donegal Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of Donegal Group in a research note on Tuesday, July 30th. BidaskClub upgraded shares of Donegal Group from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Finally, TheStreet cut shares of Donegal Group from a “b-” rating to a “c” rating in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $16.00.
Donegal Group stock opened at $14.90 on Thursday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.09. Donegal Group Inc. has a 12 month low of $12.42 and a 12 month high of $15.43. The stock’s 50 day simple moving average is $14.49 and its two-hundred day simple moving average is $14.13. The firm has a market cap of $418.01 million, a PE ratio of -14.90 and a beta of 0.28.
Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Monday, July 29th. The insurance provider reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.08. Donegal Group had a return on equity of 0.39% and a net margin of 1.75%. The business had revenue of $197.22 million for the quarter, compared to analyst estimates of $196.30 million. On average, equities research analysts forecast that Donegal Group Inc. will post 0.8 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.145 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.58 dividend on an annualized basis and a dividend yield of 3.89%. Donegal Group’s dividend payout ratio (DPR) is -58.00%.
Donegal Group Profile
Donegal Group Inc, an insurance holding company, provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, Commercial Lines of Insurance, and Investment in DFSC.
Further Reading: Market Perform
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