Donegal Group (DGICA) Downgraded to Sell at BidaskClub

BidaskClub downgraded shares of Donegal Group (NASDAQ:DGICA) from a hold rating to a sell rating in a research report report published on Saturday morning.

A number of other research firms also recently commented on DGICA. Zacks Investment Research raised Donegal Group from a strong sell rating to a hold rating in a research note on Tuesday, September 18th. Boenning Scattergood reiterated a hold rating on shares of Donegal Group in a research report on Tuesday, July 31st. Finally, ValuEngine upgraded Donegal Group from a hold rating to a buy rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $18.00.

Shares of DGICA traded up $0.07 during midday trading on Friday, reaching $13.60. 45,341 shares of the stock were exchanged, compared to its average volume of 19,903. Donegal Group has a twelve month low of $13.02 and a twelve month high of $18.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.43 and a quick ratio of 0.43.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Tuesday, October 30th. The insurance provider reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.14). The company had revenue of $196.44 million during the quarter, compared to analyst estimates of $195.80 million. Donegal Group had a negative net margin of 2.65% and a negative return on equity of 4.16%. On average, equities research analysts predict that Donegal Group will post -0.4 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be issued a $0.1425 dividend. This represents a $0.57 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, October 31st. Donegal Group’s payout ratio is presently 190.00%.

In related news, Director Patricia A. Gilmartin sold 8,229 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $14.65, for a total value of $120,554.85. Following the sale, the director now directly owns 500 shares in the company, valued at $7,325. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.13% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of DGICA. Schwab Charles Investment Management Inc. lifted its stake in Donegal Group by 37.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 43,302 shares of the insurance provider’s stock valued at $685,000 after buying an additional 11,856 shares during the period. Dimensional Fund Advisors LP lifted its stake in Donegal Group by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,743,028 shares of the insurance provider’s stock valued at $27,540,000 after buying an additional 39,671 shares during the period. Allianz Asset Management GmbH raised its position in shares of Donegal Group by 104.8% during the first quarter. Allianz Asset Management GmbH now owns 150,687 shares of the insurance provider’s stock worth $2,381,000 after purchasing an additional 77,097 shares during the period. Deprince Race & Zollo Inc. raised its position in shares of Donegal Group by 1.4% during the second quarter. Deprince Race & Zollo Inc. now owns 290,172 shares of the insurance provider’s stock worth $3,949,000 after purchasing an additional 4,112 shares during the period. Finally, TCW Group Inc. raised its position in shares of Donegal Group by 9.6% during the second quarter. TCW Group Inc. now owns 180,998 shares of the insurance provider’s stock worth $2,463,000 after purchasing an additional 15,881 shares during the period. 31.26% of the stock is currently owned by hedge funds and other institutional investors.

Donegal Group Company Profile

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, Commercial Lines of Insurance, and Investment in DFSC.

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