Donegal Group Inc. (DGICA) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Donegal Group Inc. (NASDAQ:DGICA) have earned a consensus broker rating score of 1.50 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. Donegal Group’s rating score has improved by 50% in the last three months as a result of various analysts’ ratings changes.

Brokers have set a 1 year consensus target price of $19.00 for the company and are expecting that the company will post $0.39 EPS for the current quarter, according to Zacks. Zacks has also given Donegal Group an industry rank of 101 out of 265 based on the ratings given to related companies.

Several equities analysts recently weighed in on the stock. BidaskClub lowered shares of Donegal Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 19th. TheStreet raised shares of Donegal Group from a “c+” rating to a “b-” rating in a research report on Friday, October 20th. Keefe, Bruyette & Woods raised shares of Donegal Group from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Wednesday, November 1st. Finally, Boenning Scattergood raised shares of Donegal Group from a “neutral” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research report on Tuesday, October 31st.

In related news, Director Jack Lee Hess bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were acquired at an average price of $16.78 per share, with a total value of $33,560.00. Following the completion of the transaction, the director now owns 4,489 shares of the company’s stock, valued at approximately $75,325.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patricia A. Gilmartin sold 5,333 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $17.17, for a total transaction of $91,567.61. Following the transaction, the director now directly owns 13,562 shares in the company, valued at approximately $232,859.54. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 4,000 shares of company stock worth $68,040. Insiders own 11.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in DGICA. Vanguard Group Inc. increased its position in Donegal Group by 4.2% during the first quarter. Vanguard Group Inc. now owns 412,320 shares of the insurance provider’s stock worth $7,265,000 after acquiring an additional 16,736 shares during the period. Schwab Charles Investment Management Inc. increased its position in Donegal Group by 7.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 39,888 shares of the insurance provider’s stock worth $703,000 after acquiring an additional 2,907 shares during the period. Russell Investments Group Ltd. increased its position in Donegal Group by 45.8% during the second quarter. Russell Investments Group Ltd. now owns 7,636 shares of the insurance provider’s stock worth $121,000 after acquiring an additional 2,400 shares during the period. Rhumbline Advisers increased its position in Donegal Group by 0.4% during the second quarter. Rhumbline Advisers now owns 11,052 shares of the insurance provider’s stock worth $176,000 after acquiring an additional 40 shares during the period. Finally, Swiss National Bank increased its position in Donegal Group by 34.0% during the second quarter. Swiss National Bank now owns 20,900 shares of the insurance provider’s stock worth $332,000 after acquiring an additional 5,300 shares during the period. 29.27% of the stock is currently owned by institutional investors and hedge funds.

Shares of Donegal Group (NASDAQ:DGICA) traded down $0.13 on Friday, hitting $17.47. 21,800 shares of the company’s stock traded hands, compared to its average volume of 32,321. Donegal Group has a one year low of $14.51 and a one year high of $18.25. The firm has a market capitalization of $482.77, a PE ratio of 38.26 and a beta of 0.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.42 and a current ratio of 0.42.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Monday, October 30th. The insurance provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. Donegal Group had a net margin of 2.13% and a return on equity of 2.81%. The company had revenue of $185.72 million during the quarter, compared to analysts’ expectations of $187.60 million. sell-side analysts forecast that Donegal Group will post 0.65 EPS for the current year.

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Donegal Group Company Profile

Donegal Group Inc (DGI) is an insurance holding company whose insurance subsidiaries offer personal and commercial lines of property and casualty insurance. The Company offered its insurance business to various businesses and individuals in 21 Mid-Atlantic, Midwestern, New England and Southern states, as of December 31, 2016.

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