Donegal Group (NASDAQ:DGICA) Upgraded by Janney Montgomery Scott to Buy Rating

Donegal Group (NASDAQ:DGICA) was upgraded by equities research analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a research report issued on Tuesday,Finviz reports.

Separately, Wall Street Zen lowered shares of Donegal Group from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Donegal Group Stock Performance

Shares of NASDAQ DGICA opened at $17.89 on Tuesday. The firm’s 50-day moving average price is $18.06 and its 200-day moving average price is $18.50. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06. The company has a market cap of $653.16 million and a PE ratio of 7.52. Donegal Group has a 52-week low of $14.06 and a 52-week high of $21.12.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. The firm had revenue of $233.81 million for the quarter, compared to analysts’ expectations of $247.21 million. As a group, analysts anticipate that Donegal Group will post 1.2 EPS for the current year.

Insider Buying and Selling at Donegal Group

In related news, Director David Charles King sold 4,500 shares of Donegal Group stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $17.51, for a total value of $78,795.00. Following the completion of the sale, the director directly owned 2,500 shares in the company, valued at $43,775. The trade was a 64.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Mutual Insurance Co Donegal acquired 15,509 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was purchased at an average price of $17.49 per share, with a total value of $271,252.41. Following the completion of the acquisition, the insider directly owned 13,472,945 shares of the company’s stock, valued at $235,641,808.05. This represents a 0.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.48% of the stock is currently owned by company insiders.

Institutional Trading of Donegal Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of Donegal Group by 477.2% in the second quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 2,448 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Donegal Group by 422.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 2,975 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Donegal Group by 443.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after purchasing an additional 4,022 shares in the last quarter. Raymond James Financial Inc. bought a new position in Donegal Group in the second quarter worth about $101,000. Finally, CWM LLC raised its holdings in 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 purchasing an additional 2,263 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors.

About Donegal Group

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.