Donegal Group (DGICA) Expected to Announce Earnings on Thursday

Donegal Group (NASDAQ:DGICA) is anticipated to release its results before the market opens on Thursday, July 30th. Analysts expect Donegal Group to announce earnings of $0.46 per share and revenue of $231.5280 million for the quarter.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). The firm had revenue of $236.00 million during the quarter, compared to analyst estimates of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. On average, analysts expect Donegal Group to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Donegal Group Stock Down 2.2%

Shares of NASDAQ DGICA opened at $18.17 on Thursday. The company has a 50 day simple moving average of $17.91 and a 200 day simple moving average of $17.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. Donegal Group has a 1 year low of $16.11 and a 1 year high of $21.06. The firm has a market cap of $673.20 million and a PE ratio of 10.15.

Donegal Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.1925 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 4.2%. Donegal Group’s payout ratio is currently 43.02%.

Insider Activity

In other news, major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock in a transaction dated Wednesday, June 3rd. The shares were bought at an average cost of $16.62 per share, with a total value of $166,200.00. Following the purchase, the insider owned 14,117,109 shares in the company, valued at $234,626,351.58. This trade represents a 0.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have purchased 139,487 shares of company stock valued at $2,392,488. 2.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently bought and sold shares of DGICA. AQR Capital Management LLC grew its holdings in Donegal Group by 139.8% during the 1st quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock worth $774,000 after acquiring an additional 22,978 shares during the period. Goldman Sachs Group Inc. raised its position 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 worth $2,155,000 after acquiring an additional 8,004 shares in the last quarter. Empowered Funds LLC lifted its stake 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 valued at $1,802,000 after purchasing an additional 1,696 shares during the period. Jane Street Group LLC bought a new stake in shares of Donegal Group during the 1st quarter valued at about $689,000. Finally, Rhumbline Advisers boosted 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 valued at $657,000 after purchasing an additional 5,981 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Weiss Ratings cut Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.00.

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.