First Eagle Investment Management LLC Boosts Position in Donegal Group, Inc. (DGICA)

First Eagle Investment Management LLC raised its stake in shares of Donegal Group, Inc. (NASDAQ:DGICA) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,703 shares of the insurance provider’s stock after buying an additional 1,240 shares during the period. First Eagle Investment Management LLC owned 0.19% of Donegal Group worth $806,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of DGICA. Dimensional Fund Advisors LP increased its position in Donegal Group by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,603,966 shares of the insurance provider’s stock worth $28,262,000 after buying an additional 23,054 shares in the last quarter. Kennedy Capital Management Inc. increased its position in Donegal Group by 6.2% in the first quarter. Kennedy Capital Management Inc. now owns 440,130 shares of the insurance provider’s stock worth $7,755,000 after buying an additional 25,583 shares in the last quarter. Vanguard Group Inc. increased its position in Donegal Group by 4.2% in the first quarter. Vanguard Group Inc. now owns 412,320 shares of the insurance provider’s stock worth $7,265,000 after buying an additional 16,736 shares in the last quarter. Heartland Advisors Inc. increased its position in Donegal Group by 4.0% in the first quarter. Heartland Advisors Inc. now owns 400,000 shares of the insurance provider’s stock worth $7,048,000 after buying an additional 15,281 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Donegal Group by 2.2% in the first quarter. Wells Fargo & Company MN now owns 380,908 shares of the insurance provider’s stock worth $6,711,000 after buying an additional 8,217 shares in the last quarter. 28.58% of the stock is owned by institutional investors and hedge funds.

Donegal Group, Inc. (NASDAQ:DGICA) opened at 15.22 on Wednesday. The stock has a market capitalization of $415.84 million, a P/E ratio of 32.25 and a beta of 0.31. The company has a 50 day moving average of $15.22 and a 200-day moving average of $16.19. Donegal Group, Inc. has a one year low of $14.49 and a one year high of $18.55.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Wednesday, July 19th. The insurance provider reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.04. Donegal Group had a net margin of 1.84% and a return on equity of 2.24%. The business had revenue of $182.48 million for the quarter, compared to analyst estimates of $185.20 million. Equities research analysts predict that Donegal Group, Inc. will post $0.63 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Friday, July 28th. Donegal Group’s dividend payout ratio is currently 114.29%.

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A number of research firms have issued reports on DGICA. Boenning Scattergood reaffirmed a “hold” rating on shares of Donegal Group in a report on Friday, July 14th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $19.00 price objective on shares of Donegal Group in a report on Friday, July 14th. TheStreet downgraded shares of Donegal Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. BidaskClub downgraded shares of Donegal Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research downgraded shares of Donegal Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Donegal Group has an average rating of “Hold” and a consensus price target of $18.00.

Donegal Group Company Profile

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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Institutional Ownership by Quarter for Donegal Group (NASDAQ:DGICA)

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