Donegal Group Inc. (NASDAQ:DGICA) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $18.00.
Several brokerages have weighed in on DGICA. BidaskClub raised Donegal Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Boenning Scattergood reaffirmed a “hold” rating on shares of Donegal Group in a research report on Tuesday, July 31st. Finally, Zacks Investment Research raised Donegal Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 18th.
Donegal Group stock traded down $0.26 during mid-day trading on Wednesday, hitting $13.74. The company’s stock had a trading volume of 11,969 shares, compared to its average volume of 20,770. The company has a market cap of $396.07 million, a P/E ratio of 45.80 and a beta of 0.46. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.15. Donegal Group has a 52-week low of $13.27 and a 52-week high of $18.25.
Donegal Group (NASDAQ:DGICA) last issued its earnings results on Monday, July 30th. The insurance provider reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.09. Donegal Group had a negative return on equity of 2.36% and a negative net margin of 1.92%. The company had revenue of $194.27 million for the quarter, compared to analyst estimates of $195.50 million. On average, equities analysts forecast that Donegal Group will post -0.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be issued a dividend of $0.1425 per share. This represents a $0.57 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Wednesday, October 31st. Donegal Group’s dividend payout ratio is 190.00%.
In other news, Director Patricia A. Gilmartin sold 8,229 shares of the stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $14.65, for a total transaction of $120,554.85. Following the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $7,325. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.13% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its holdings in Donegal Group by 37.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 43,302 shares of the insurance provider’s stock valued at $685,000 after buying an additional 11,856 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Donegal Group by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,743,028 shares of the insurance provider’s stock valued at $27,540,000 after buying an additional 39,671 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Donegal Group by 104.8% in the 1st quarter. Allianz Asset Management GmbH now owns 150,687 shares of the insurance provider’s stock valued at $2,381,000 after buying an additional 77,097 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in Donegal Group by 1.4% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 290,172 shares of the insurance provider’s stock valued at $3,949,000 after buying an additional 4,112 shares during the last quarter. Finally, TCW Group Inc. grew its holdings in Donegal Group by 9.6% in the 2nd quarter. TCW Group Inc. now owns 180,998 shares of the insurance provider’s stock valued at $2,463,000 after buying an additional 15,881 shares during the last quarter. 30.87% of the stock is currently owned by institutional investors and hedge funds.
About Donegal Group
Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, Commercial Lines of Insurance, and Investment in DFSC.
Read More: Analyzing a company’s cash flow statement
Receive News & Ratings for Donegal Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Donegal Group and related companies with MarketBeat.com's FREE daily email newsletter.