Boenning Scattergood Reaffirms Hold Rating for Donegal Group (NASDAQ:DGICA)

Boenning Scattergood restated their hold rating on shares of Donegal Group (NASDAQ:DGICA) in a research report released on Tuesday, AnalystRatings.com reports. Boenning Scattergood also issued estimates for Donegal Group’s Q3 2019 earnings at $0.12 EPS and FY2019 earnings at $0.80 EPS.

Several other equities research analysts also recently weighed in on DGICA. TheStreet raised shares of Donegal Group from a c+ rating to a b- rating in a research report on Friday, May 24th. BidaskClub downgraded shares of Donegal Group from a sell rating to a strong sell rating in a research report on Wednesday, July 24th. Zacks Investment Research raised shares of Donegal Group from a strong sell rating to a hold rating and set a $16.00 target price for the company in a research report on Tuesday, April 30th. Finally, ValuEngine raised shares of Donegal Group from a hold rating to a buy rating in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $16.00.

DGICA stock traded down $0.33 during trading on Tuesday, reaching $14.11. The stock had a trading volume of 1,913 shares, compared to its average volume of 18,225. Donegal Group has a 1-year low of $12.42 and a 1-year high of $15.43. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.45 and a quick ratio of 0.45. The firm has a market capitalization of $422.10 million, a P/E ratio of -14.35 and a beta of 0.29. The company has a fifty day moving average of $14.77.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Monday, July 29th. The insurance provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. The firm had revenue of $197.22 million for the quarter, compared to analyst estimates of $196.30 million. Donegal Group had a net margin of 1.75% and a return on equity of 0.40%. On average, research analysts expect that Donegal Group will post 0.8 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be given a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Wednesday, July 31st. Donegal Group’s payout ratio is currently -58.00%.

In related news, Director Jack Lee Hess bought 2,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was bought at an average price of $13.92 per share, with a total value of $27,840.00. Following the transaction, the director now owns 24,473 shares of the company’s stock, valued at $340,664.16. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 9.79% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in DGICA. Janney Montgomery Scott LLC increased its holdings in shares of Donegal Group by 12.3% in the second quarter. Janney Montgomery Scott LLC now owns 125,066 shares of the insurance provider’s stock valued at $1,910,000 after purchasing an additional 13,700 shares during the last quarter. Strs Ohio increased its holdings in shares of Donegal Group by 500.0% in the second quarter. Strs Ohio now owns 5,400 shares of the insurance provider’s stock valued at $82,000 after purchasing an additional 4,500 shares during the last quarter. Atwater Malick LLC increased its holdings in shares of Donegal Group by 7.1% in the second quarter. Atwater Malick LLC now owns 16,064 shares of the insurance provider’s stock valued at $245,000 after purchasing an additional 1,064 shares during the last quarter. Carroll Financial Associates Inc. increased its holdings in shares of Donegal Group by 195.0% in the second quarter. Carroll Financial Associates Inc. now owns 5,330 shares of the insurance provider’s stock valued at $81,000 after purchasing an additional 3,523 shares during the last quarter. Finally, Kennedy Capital Management Inc. increased its holdings in shares of Donegal Group by 8.8% in the first quarter. Kennedy Capital Management Inc. now owns 875,012 shares of the insurance provider’s stock valued at $11,769,000 after purchasing an additional 70,726 shares during the last quarter. 30.27% of the stock is owned by institutional investors and hedge funds.

Donegal Group Company Profile

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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