Short Interest in Donegal Group Inc. (NASDAQ:DGICA) Grows By 10.1%

Donegal Group Inc. (NASDAQ:DGICAGet Free Report) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 189,400 shares, an increase of 10.1% from the February 29th total of 172,100 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average daily trading volume, of 59,500 shares, the short-interest ratio is currently 3.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DGICA. CWM LLC boosted its stake in shares of Donegal Group by 170.9% in the 4th quarter. CWM LLC now owns 1,796 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 1,133 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Donegal Group by 58.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,924 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 707 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in Donegal Group in the third quarter valued at about $44,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Donegal Group by 29.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,325 shares of the insurance provider’s stock worth $47,000 after buying an additional 757 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Donegal Group by 15,473.7% during the second quarter. FMR LLC now owns 2,959 shares of the insurance provider’s stock worth $50,000 after buying an additional 2,940 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Donegal Group Price Performance

NASDAQ:DGICA traded up $0.05 during mid-day trading on Wednesday, hitting $13.77. The company’s stock had a trading volume of 6,582 shares, compared to its average volume of 59,452. The company has a market capitalization of $459.78 million, a price-to-earnings ratio of 97.36 and a beta of -0.07. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.07. Donegal Group has a fifty-two week low of $13.10 and a fifty-two week high of $15.76. The stock has a fifty day moving average of $14.23 and a 200-day moving average of $14.27.

Donegal Group (NASDAQ:DGICAGet Free Report) last issued its earnings results on Thursday, February 22nd. The insurance provider reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.34). The company had revenue of $239.47 million during the quarter, compared to analyst estimates of $234.10 million. Donegal Group had a return on equity of 0.40% and a net margin of 0.48%. During the same period in the previous year, the company posted $0.09 earnings per share. As a group, equities analysts forecast that Donegal Group will post 0.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on DGICA shares. StockNews.com cut Donegal Group from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Janney Montgomery Scott initiated coverage on shares of Donegal Group in a report on Wednesday, December 20th. They issued a “neutral” rating and a $15.00 price target on the stock.

Get Our Latest Stock Analysis on Donegal Group

Donegal Group Company Profile

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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.

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