Donegal Group, Inc. (NASDAQ:DGICA) has earned a consensus broker rating score of 1.50 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and one has assigned a strong buy rating to the company. Donegal Group’s rating score has improved by 50% in the last three months as a result of a number of analysts’ ratings changes.
Brokerages have set a 1-year consensus price objective of $19.00 for the company and are expecting that the company will post $0.39 EPS for the current quarter, according to Zacks. Zacks has also assigned Donegal Group an industry rank of 233 out of 265 based on the ratings given to its competitors.
Several research analysts have recently issued reports on the stock. Boenning Scattergood restated a “hold” rating on shares of Donegal Group in a report on Friday, July 14th. Keefe, Bruyette & Woods restated a “hold” rating and set a $19.00 price objective on shares of Donegal Group in a report on Friday, July 14th. BidaskClub downgraded shares of Donegal Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded shares of Donegal Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, TheStreet downgraded shares of Donegal Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th.
In related news, Director Patricia A. Gilmartin sold 5,333 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $17.17, for a total value of $91,567.61. Following the sale, the director now owns 13,562 shares of the company’s stock, valued at $232,859.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jack Lee Hess bought 2,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was acquired at an average cost of $16.78 per share, for a total transaction of $33,560.00. Following the purchase, the director now owns 4,489 shares of the company’s stock, valued at $75,325.42. The disclosure for this purchase can be found here. Insiders own 11.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of DGICA. Russell Investments Group Ltd. grew its stake in Donegal Group by 45.8% during the second quarter. Russell Investments Group Ltd. now owns 7,636 shares of the insurance provider’s stock worth $121,000 after buying an additional 2,400 shares during the last quarter. Rhumbline Advisers grew its stake in Donegal Group by 0.4% during the second quarter. Rhumbline Advisers now owns 11,052 shares of the insurance provider’s stock worth $176,000 after buying an additional 40 shares during the last quarter. Hancock Holding Co. grew its stake in Donegal Group by 4.4% during the second quarter. Hancock Holding Co. now owns 11,470 shares of the insurance provider’s stock worth $182,000 after buying an additional 480 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Donegal Group by 78.7% during the second quarter. The Manufacturers Life Insurance Company now owns 11,817 shares of the insurance provider’s stock worth $189,000 after buying an additional 5,203 shares during the last quarter. Finally, Swiss National Bank grew its stake in Donegal Group by 15.6% during the first quarter. Swiss National Bank now owns 15,600 shares of the insurance provider’s stock worth $275,000 after buying an additional 2,100 shares during the last quarter. 28.80% of the stock is currently owned by institutional investors and hedge funds.
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Donegal Group (NASDAQ DGICA) traded up $0.17 during trading on Friday, reaching $17.18. 17,887 shares of the company’s stock were exchanged, compared to its average volume of 28,914. The firm has a market cap of $462.50, a price-to-earnings ratio of 37.15 and a beta of 0.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.44 and a current ratio of 0.42. Donegal Group has a 52-week low of $14.49 and a 52-week high of $18.55.
Donegal Group (NASDAQ:DGICA) last released its earnings results on Monday, October 30th. The insurance provider reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.04. The firm had revenue of $185.72 million during the quarter, compared to analyst estimates of $187.60 million. Donegal Group had a net margin of 2.13% and a return on equity of 2.81%. analysts forecast that Donegal Group will post 0.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.56 annualized dividend and a dividend yield of 3.26%. Donegal Group’s payout ratio is 101.82%.
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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