Donegal Group (NASDAQ:DGICA) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Donegal Group (NASDAQ:DGICA) from a hold rating to a buy rating in a report issued on Friday morning.

Donegal Group Stock Down 2.9 %

DGICA opened at $13.45 on Friday. The stock’s 50 day moving average price is $13.84 and its 200 day moving average price is $14.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $449.10 million, a P/E ratio of 84.06 and a beta of -0.07. Donegal Group has a 12 month low of $13.10 and a 12 month high of $15.76.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, February 22nd. The insurance provider reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.34). The company had revenue of $239.47 million during the quarter, compared to the consensus estimate of $234.10 million. Donegal Group had a net margin of 0.55% and a return on equity of 0.15%. During the same quarter last year, the business earned $0.09 earnings per share. As a group, research analysts predict that Donegal Group will post 0.55 earnings per share for the current year.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a dividend of $0.172 per share. The ex-dividend date is Tuesday, May 7th. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 5.12%. Donegal Group’s dividend payout ratio is currently 425.00%.

Institutional Investors Weigh In On Donegal Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Donegal Group by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,825,664 shares of the insurance provider’s stock worth $25,541,000 after acquiring an additional 53,632 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Donegal Group during the 1st quarter valued at $293,000. Mariner LLC boosted its position in shares of Donegal Group by 62.6% in the third quarter. Mariner LLC now owns 53,238 shares of the insurance provider’s stock worth $759,000 after buying an additional 20,499 shares during the period. Lewis Asset Management LLC purchased a new stake in Donegal Group in the 4th quarter worth about $194,000. Finally, Brandywine Global Investment Management LLC boosted its position in Donegal Group by 16.4% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 81,469 shares of the insurance provider’s stock worth $1,161,000 after acquiring an additional 11,473 shares during the period. Institutional investors and hedge funds own 27.96% of the company’s stock.

Donegal Group Company Profile

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.