Donegal Group (NASDAQ:DGICA) Rating Increased to Hold at BidaskClub

Donegal Group (NASDAQ:DGICA) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday, BidAskClub reports.

DGICA has been the subject of a number of other research reports. Zacks Investment Research lowered Donegal Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. ValuEngine downgraded Donegal Group from a “sell” rating to a “strong sell” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $16.50.

Shares of NASDAQ DGICA opened at $13.98 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. The firm has a market cap of $405.83 million, a price-to-earnings ratio of 8.42 and a beta of 0.07. Donegal Group has a 1-year low of $11.22 and a 1-year high of $16.19. The stock has a fifty day simple moving average of $13.72 and a two-hundred day simple moving average of $14.11.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Monday, July 27th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.35. Donegal Group had a net margin of 5.84% and a return on equity of 10.56%. The business had revenue of $192.41 million for the quarter, compared to analysts’ expectations of $195.70 million. Analysts forecast that Donegal Group will post 1.25 EPS for the current year.

In related news, VP Vincent Anthony Viozzi sold 7,316 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $14.95, for a total value of $109,374.20. Following the transaction, the vice president now directly owns 6,803 shares of the company’s stock, valued at approximately $101,704.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.30% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Citigroup Inc. lifted its holdings in shares of Donegal Group by 70.9% in the 4th quarter. Citigroup Inc. now owns 2,249 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 933 shares during the last quarter. UBS Group AG raised its position in Donegal Group by 48.0% during the fourth quarter. UBS Group AG now owns 13,791 shares of the insurance provider’s stock valued at $204,000 after purchasing an additional 4,473 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Donegal Group by 42.0% in the 4th quarter. Bank of New York Mellon Corp now owns 111,273 shares of the insurance provider’s stock valued at $1,649,000 after purchasing an additional 32,894 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Donegal Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 189,425 shares of the insurance provider’s stock worth $2,807,000 after purchasing an additional 1,388 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. purchased a new stake in Donegal Group during the 1st quarter valued at $721,000. Hedge funds and other institutional investors own 31.27% of the company’s stock.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides personal and commercial lines of 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.

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