Donegal Group (DGICA) Rating Lowered to Sell at BidaskClub

Donegal Group (NASDAQ:DGICA) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other research firms have also recently issued reports 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 reissued a “hold” rating on shares of Donegal Group in a research note on Tuesday, July 31st. Finally, ValuEngine raised Donegal Group from a “hold” rating to a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Donegal Group has an average rating of “Hold” and an average target price of $18.00.

NASDAQ:DGICA opened at $13.60 on Friday. Donegal Group has a 1 year low of $13.02 and a 1 year high of $18.25. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.15.

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

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

A number of hedge funds have recently made changes to their positions in DGICA. Ramsey Quantitative Systems lifted its holdings in shares of Donegal Group by 115.0% during the third quarter. Ramsey Quantitative Systems now owns 7,720 shares of the insurance provider’s stock valued at $110,000 after purchasing an additional 4,129 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Donegal Group during the second quarter valued at $213,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Donegal Group by 37.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 43,302 shares of the insurance provider’s stock valued at $685,000 after purchasing an additional 11,856 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings 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 valued at $2,381,000 after purchasing an additional 77,097 shares during the last quarter. Finally, TCW Group Inc. lifted its holdings 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 valued at $2,463,000 after purchasing an additional 15,881 shares during the last quarter. 31.26% of the stock is owned by institutional investors and hedge funds.

About Donegal Group

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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