Donegal Group, Inc. (NASDAQ:DGICA) Lowered to Strong Sell at BidaskClub

BidaskClub lowered shares of Donegal Group, Inc. (NASDAQ:DGICA) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday.

Several other brokerages have also recently commented on DGICA. Boenning Scattergood reiterated a hold rating on shares of Donegal Group in a research report on Friday, July 14th. Keefe, Bruyette & Woods reiterated a hold rating and set a $19.00 price target on shares of Donegal Group in a research report on Friday, July 14th.

Shares of Donegal Group (DGICA) traded down 1.46% during mid-day trading on Wednesday, reaching $14.84. 27,481 shares of the company were exchanged. The stock has a market capitalization of $404.98 million, a P/E ratio of 17.00 and a beta of 0.32. The firm has a 50-day moving average price of $15.82 and a 200 day moving average price of $16.52. Donegal Group has a 12 month low of $14.49 and a 12 month high of $18.55.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Wednesday, July 19th. The insurance provider reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by $0.04. Donegal Group had a return on equity of 2.24% and a net margin of 1.84%. The business had revenue of $182.48 million for the quarter, compared to analyst estimates of $185.20 million. Equities research analysts anticipate that Donegal Group will post $0.65 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, July 28th. Donegal Group’s dividend payout ratio is 114.29%.

In related news, Director Robert S. Bolinger sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $16.67, for a total transaction of $200,040.00. Following the completion of the transaction, the director now owns 9,185 shares in the company, valued at $153,113.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hancock Holding Co. purchased a new position in shares of Donegal Group during the first quarter worth about $194,000. TFS Capital LLC bought a new position in Donegal Group during the first quarter valued at $238,000. Teachers Advisors LLC boosted its position in Donegal Group by 12.6% in the fourth quarter. Teachers Advisors LLC now owns 13,833 shares of the insurance provider’s stock valued at $242,000 after buying an additional 1,549 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Donegal Group by 333.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,029 shares of the insurance provider’s stock valued at $247,000 after buying an additional 10,791 shares during the period. Finally, Swiss National Bank boosted its position in Donegal Group by 15.6% in the first quarter. Swiss National Bank now owns 15,600 shares of the insurance provider’s stock valued at $275,000 after buying an additional 2,100 shares during the period. Hedge funds and other institutional investors own 29.37% of the company’s stock.

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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