Donegal Group (NASDAQ:DGICA) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Donegal Group (NASDAQ:DGICA) had its price objective hoisted by analysts at Keefe, Bruyette & Woods from $17.00 to $18.00 in a research note issued on Friday, MarketBeat Ratings reports. The brokerage presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential downside of 6.05% from the company’s current price.

Donegal Group Stock Performance

Shares of DGICA stock opened at $19.16 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group has a 52 week low of $12.26 and a 52 week high of $20.51. The firm has a 50 day moving average of $18.09 and a 200-day moving average of $16.32. The company has a market cap of $682.84 million, a price-to-earnings ratio of 12.61 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, April 24th. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.34 by $0.38. The company had revenue of $245.57 million during the quarter, compared to the consensus estimate of $248.73 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. On average, equities analysts forecast that Donegal Group will post 1.2 earnings per share for the current year.

Insider Buying and Selling at Donegal Group

In other Donegal Group news, VP Vincent Anthony Viozzi sold 10,500 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $17.95, for a total transaction of $188,475.00. Following the transaction, the vice president now directly owns 9,316 shares in the company, valued at approximately $167,222.20. This trade represents a 52.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $17.85 per share, with a total value of $267,750.00. Following the purchase, the insider now owns 13,219,273 shares in the company, valued at approximately $235,964,023.05. This represents a 0.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 105,908 shares of company stock valued at $1,865,086 and have sold 47,119 shares valued at $845,651. Insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Donegal Group

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of Donegal Group by 3.0% during the fourth quarter. Bank of America Corp DE now owns 29,572 shares of the insurance provider’s stock valued at $457,000 after acquiring an additional 871 shares during the last quarter. Wells Fargo & Company MN grew its stake in Donegal Group by 0.4% in the 4th quarter. Wells Fargo & Company MN now owns 223,593 shares of the insurance provider’s stock valued at $3,459,000 after purchasing an additional 897 shares during the period. Corton Capital Inc. increased its position in shares of Donegal Group by 7.4% during the 4th quarter. Corton Capital Inc. now owns 16,101 shares of the insurance provider’s stock valued at $249,000 after purchasing an additional 1,108 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Donegal Group by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,492 shares of the insurance provider’s stock worth $688,000 after purchasing an additional 1,773 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Donegal Group by 24.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,875 shares of the insurance provider’s stock worth $272,000 after buying an additional 2,695 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.