Donegal Group (NASDAQ:DGICA) Issues Earnings Results, Misses Estimates By $0.02 EPS

Donegal Group (NASDAQ:DGICA) posted its quarterly earnings data on Thursday. The insurance provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02), FiscalAI reports. The firm had revenue of $240.14 million for the quarter, compared to analyst estimates of $241.10 million. Donegal Group had a return on equity of 14.28% and a net margin of 8.72%.

Donegal Group Price Performance

Shares of DGICA traded down $0.80 during mid-day trading on Thursday, reaching $17.81. The company had a trading volume of 58,611 shares, compared to its average volume of 112,635. The company has a market capitalization of $652.70 million, a price-to-earnings ratio of 7.36 and a beta of 0.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39. The company’s 50 day simple moving average is $19.43 and its 200 day simple moving average is $19.10. Donegal Group has a 1-year low of $15.05 and a 1-year high of $21.12.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 3rd were paid a dividend of $0.1825 per share. The ex-dividend date of this dividend was Tuesday, February 3rd. This represents a $0.73 annualized dividend and a yield of 4.1%. Donegal Group’s payout ratio is presently 30.17%.

Insider Activity at Donegal Group

In related news, VP Kristi Spencer Altshuler sold 12,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $20.25, for a total value of $243,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Michael Sr Kraft, Sr. sold 4,500 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $20.02, for a total transaction of $90,090.00. Following the sale, the director directly owned 13,436 shares in the company, valued at approximately $268,988.72. The trade was a 25.09% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders purchased 157,747 shares of company stock valued at $3,033,510 and sold 17,174 shares valued at $346,833. 6.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Donegal Group

A number of hedge funds have recently made changes to their positions in DGICA. AQR Capital Management LLC lifted its position in shares of Donegal Group by 139.8% in the 1st quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock worth $774,000 after purchasing an additional 22,978 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Donegal Group by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock valued at $2,155,000 after purchasing an additional 8,004 shares during the period. Empowered Funds LLC grew its stake in shares of Donegal Group by 1.9% in the 1st quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock valued at $1,802,000 after buying an additional 1,696 shares during the period. Jane Street Group LLC acquired a new stake in shares of Donegal Group in the 1st quarter valued at about $689,000. Finally, Rhumbline Advisers increased its position in Donegal Group by 22.3% in the 2nd quarter. Rhumbline Advisers now owns 32,824 shares of the insurance provider’s stock valued at $657,000 after buying an additional 5,981 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Donegal Group from $20.00 to $21.00 and gave the company a “market perform” rating in a report on Tuesday, January 6th. Zacks Research cut shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.00.

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.