Donegal Group (NASDAQ:DGICA) Price Target Raised to $21.00

Donegal Group (NASDAQ:DGICA) had its target price boosted by investment analysts at Keefe, Bruyette & Woods from $20.00 to $21.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 6.84% from the stock’s previous close.

A number of other research analysts have also commented on DGICA. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, October 8th. Zacks Research lowered Donegal Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.00.

Donegal Group Stock Performance

Shares of DGICA traded up $0.28 during mid-day trading on Tuesday, hitting $19.66. The company’s stock had a trading volume of 55,110 shares, compared to its average volume of 77,533. The stock’s 50-day moving average is $19.80 and its two-hundred day moving average is $19.02. The firm has a market capitalization of $720.20 million, a PE ratio of 8.12 and a beta of 0.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39. Donegal Group has a one year low of $14.17 and a one year high of $21.12.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. Donegal Group had a net margin of 8.72% and a return on equity of 14.28%. The business had revenue of $245.92 million for the quarter, compared to analyst estimates of $244.19 million. As a group, sell-side analysts anticipate that Donegal Group will post 1.2 EPS for the current year.

Insider Transactions at Donegal Group

In other Donegal Group news, VP Kristi Spencer Altshuler sold 12,000 shares of Donegal Group stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $20.25, for a total transaction of $243,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Mutual Insurance Co Donegal bought 51,404 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was bought at an average cost of $17.86 per share, with a total value of $918,075.44. Following the completion of the acquisition, the insider owned 13,784,361 shares in the company, valued at $246,188,687.46. This represents a 0.37% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 263,529 shares of company stock valued at $5,099,413 and have sold 27,074 shares valued at $539,064. 6.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Donegal Group

Institutional investors and hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new position in shares of Donegal Group in the third quarter valued at about $26,000. Allworth Financial LP increased its position in Donegal Group by 477.2% in the 2nd 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. Versant Capital Management Inc lifted its position in shares of Donegal Group by 79.1% during the third quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock worth $58,000 after purchasing an additional 1,329 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Donegal Group by 422.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 2,975 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of 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 valued at $99,000 after purchasing an additional 4,022 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

About Donegal Group

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.