Donegal Group (NASDAQ:DGICA) Raised to “Strong-Buy” at Wall Street Zen

Donegal Group (NASDAQ:DGICA) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Separately, Keefe, Bruyette & Woods lifted their price target on Donegal Group from $17.00 to $18.00 and gave the stock a “market perform” rating in a research note on Friday, April 25th.

Donegal Group Stock Up 0.6%

Shares of NASDAQ DGICA opened at $20.29 on Friday. Donegal Group has a 1 year low of $12.26 and a 1 year high of $21.12. The firm has a market cap of $732.41 million, a price-to-earnings ratio of 13.35 and a beta of -0.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The stock’s 50-day simple moving average is $19.29 and its 200-day simple moving average is $17.15.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, April 24th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.38. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. The business had revenue of $245.57 million for the quarter, compared to analyst estimates of $248.73 million. As a group, equities analysts anticipate that Donegal Group will post 1.2 earnings per share for the current fiscal year.

Insider Transactions at Donegal Group

In other Donegal Group news, VP Christina Marie Hoffman sold 11,000 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $19.83, for a total value of $218,130.00. Following the transaction, the vice president now owns 4,405 shares of the company’s stock, valued at approximately $87,351.15. This represents a 71.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO David Benjamin Bawel sold 9,000 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $19.83, for a total value of $178,470.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,417 shares in the company, valued at $404,869.11. This represents a 30.59% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 171,447 shares of company stock worth $3,258,916 and sold 209,693 shares worth $4,093,957. Insiders own 6.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DGICA. KLP Kapitalforvaltning AS acquired a new stake in Donegal Group during the 4th quarter valued at $68,000. CWM LLC increased its stake in shares of Donegal Group by 78.0% in the first quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock worth $101,000 after acquiring an additional 2,263 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Donegal Group by 47.4% in the first quarter. Russell Investments Group Ltd. now owns 5,225 shares of the insurance provider’s stock worth $103,000 after acquiring an additional 1,681 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Donegal Group in the fourth quarter worth $128,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Donegal Group by 117.2% in the fourth quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock worth $130,000 after acquiring an additional 4,544 shares during the last quarter. Institutional investors 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.