Donegal Group (DGICA) to Release Quarterly Earnings on Thursday

Donegal Group (NASDAQ:DGICA) is expected to be posting its results before the market opens on Thursday, February 19th. Analysts expect Donegal Group to post earnings of $0.52 per share and revenue of $241.10 million for the quarter.

Donegal Group Trading Down 0.5%

NASDAQ DGICA opened at $18.66 on Thursday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.06. Donegal Group has a 1-year low of $14.93 and a 1-year high of $21.12. The firm’s fifty day simple moving average is $19.53 and its 200-day simple moving average is $19.05. The company has a market capitalization of $683.74 million, a PE ratio of 7.71 and a beta of 0.04.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 3rd will be given a $0.1825 dividend. This represents a $0.73 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, February 3rd. Donegal Group’s dividend payout ratio is presently 30.17%.

Insider Activity

In related news, VP Kristi Spencer Altshuler sold 12,000 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $20.25, for a total value of $243,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Mutual Insurance Co Donegal bought 22,819 shares of Donegal Group stock in a transaction that occurred on Wednesday, December 10th. The stock was purchased at an average cost of $20.05 per share, with a total value of $457,520.95. Following the completion of the transaction, the insider owned 13,913,704 shares of the company’s stock, valued at $278,969,765.20. This trade represents a 0.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 196,438 shares of company stock worth $3,797,870 and have sold 17,174 shares worth $346,833. 6.63% of the stock is currently owned by company insiders.

Institutional Trading of Donegal Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DGICA. AQR Capital Management LLC raised its position in Donegal Group by 139.8% in the first quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock worth $774,000 after purchasing an additional 22,978 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Donegal Group by 7.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock valued at $2,155,000 after purchasing an additional 8,004 shares during the period. Empowered Funds LLC raised its holdings in shares of Donegal Group by 1.9% in the 1st quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock worth $1,802,000 after buying an additional 1,696 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Donegal Group in the 1st quarter worth approximately $689,000. Finally, Rhumbline Advisers lifted its position in shares of Donegal Group by 22.3% during the 2nd quarter. Rhumbline Advisers now owns 32,824 shares of the insurance provider’s stock worth $657,000 after buying an additional 5,981 shares during the period. Institutional investors own 27.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DGICA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a report on Wednesday, January 21st. Keefe, Bruyette & Woods lifted their price objective on shares of Donegal Group from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Tuesday, January 6th. Finally, Zacks Research cut shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Donegal Group Company Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.