Donegal Group (NASDAQ:DGICA) Releases Earnings Results, Beats Estimates By $0.06 EPS

Donegal Group (NASDAQ:DGICA) released its earnings results on Thursday. The insurance provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06, FiscalAI reports. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. The firm had revenue of $237.66 million for the quarter, compared to the consensus estimate of $214.12 million.

Donegal Group Stock Up 1.1%

NASDAQ:DGICA opened at $18.83 on Friday. Donegal Group has a twelve month low of $16.11 and a twelve month high of $21.06. The company has a market cap of $698.95 million, a price-to-earnings ratio of 9.76 and a beta of -0.03. The stock has a fifty day simple moving average of $18.71 and a 200-day simple moving average of $18.16. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a $0.1925 dividend. The ex-dividend date is Monday, November 2nd. This represents a $0.77 dividend on an annualized basis and a yield of 4.1%. Donegal Group’s dividend payout ratio (DPR) is presently 39.90%.

Insider Transactions at Donegal Group

In other Donegal Group news, SVP Noland Rone Deas, Jr. sold 24,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.47, for a total value of $467,280.00. Following the completion of the sale, the senior vice president directly owned 3,523 shares in the company, valued at approximately $68,592.81. This represents a 87.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin Burke sold 24,000 shares of Donegal Group stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $19.23, for a total value of $461,520.00. Following the completion of the sale, the insider owned 13,870 shares of the company’s stock, valued at $266,720.10. The trade was a 63.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders purchased 220,437 shares of company stock valued at $4,218,669 and sold 111,108 shares valued at $2,153,119. Company insiders own 2.75% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Zacks Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.00.

Donegal Group Company Profile

Donegal Group Inc (NASDAQ: DGICA) is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.

Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers’ compensation coverage, along with other specialized property and casualty policies.

Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.