Donegal Group (NASDAQ:DGICA) Stock Passes Above 200 Day Moving Average – What’s Next?

Donegal Group, Inc. (NASDAQ:DGICA)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $18.86 and traded as high as $19.44. Donegal Group shares last traded at $19.21, with a volume of 164,092 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DGICA. Wall Street Zen cut shares of Donegal Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings restated a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, October 8th. Janney Montgomery Scott upgraded Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. Finally, Zacks Research raised Donegal Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $18.00.

Donegal Group Stock Down 1.0%

The business’s 50-day moving average is $18.63 and its two-hundred day moving average is $18.86. The firm has a market capitalization of $701.36 million and a price-to-earnings ratio of 8.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40.

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

Insider Activity

In other news, major shareholder Mutual Insurance Co Donegal purchased 20,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were bought at an average cost of $19.53 per share, for a total transaction of $390,600.00. Following the completion of the acquisition, the insider directly owned 13,654,579 shares in the company, valued at approximately $266,673,927.87. This trade represents a 0.15% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders bought 212,958 shares of company stock valued at $3,965,746. Company insiders own 6.63% of the company’s stock.

Institutional Trading of Donegal Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC boosted its position in Donegal Group by 120.7% during the third quarter. CWM LLC now owns 13,888 shares of the insurance provider’s stock valued at $269,000 after purchasing an additional 7,595 shares during the last quarter. Osaic Holdings Inc. increased its position in shares of Donegal Group by 444.7% during the 2nd quarter. Osaic Holdings Inc. now owns 7,195 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 5,874 shares during the last quarter. Orion Porfolio Solutions LLC raised its stake in shares of Donegal Group by 83.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,518 shares of the insurance provider’s stock worth $471,000 after purchasing an additional 10,692 shares in the last quarter. State of Wyoming boosted its holdings in shares of Donegal Group by 856.4% in the 2nd quarter. State of Wyoming now owns 29,629 shares of the insurance provider’s stock valued at $593,000 after buying an additional 26,531 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Donegal Group by 443.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after buying an additional 4,022 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.

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.