Donegal Group (NASDAQ:DGICA) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Donegal Group (NASDAQ:DGICA) had its price objective raised by investment analysts at Keefe, Bruyette & Woods from $18.00 to $20.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 3.95% from the stock’s current price.

Separately, Weiss Ratings raised shares of Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.00.

Donegal Group Stock Up 0.9%

DGICA stock opened at $19.24 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $712.84 million and a P/E ratio of 10.75. Donegal Group has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The business has a 50-day moving average of $17.58 and a 200-day moving average of $18.03.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The firm had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million. On average, sell-side analysts anticipate that Donegal Group will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Donegal Group

In other news, major shareholder Mutual Insurance Co Donegal bought 10,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average cost of $16.62 per share, for a total transaction of $166,200.00. Following the completion of the acquisition, the insider owned 14,117,109 shares in the company, valued at approximately $234,626,351.58. This represents a 0.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 139,487 shares of company stock valued at $2,392,488 over the last three months. 2.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Donegal Group

Institutional investors and hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in Donegal Group by 576.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 2,341 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Donegal Group by 422.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after buying an additional 2,975 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Donegal Group by 1,377.6% during the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 3,513 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of Donegal Group by 31.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 896 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in 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 acquiring an additional 4,022 shares during the period. 27.96% of the stock is owned by institutional investors.

Donegal Group Company Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.