Donegal Group (NASDAQ:DGICA) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Donegal Group (NASDAQ:DGICA) from a hold rating to a buy rating in a research note issued to investors on Friday, ValuEngine reports.

Other analysts have also recently issued reports about the stock. TheStreet upgraded shares of Donegal Group from a c+ rating to a b- rating in a report on Friday, May 24th. Boenning Scattergood restated a hold rating on shares of Donegal Group in a report on Tuesday, July 30th. BidaskClub upgraded shares of Donegal Group from a strong sell rating to a sell rating in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Donegal Group from a strong sell rating to a hold rating and set a $16.00 price target for the company in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $16.00.

Donegal Group stock opened at $14.91 on Friday. The firm’s 50 day simple moving average is $14.64 and its 200-day simple moving average is $14.01. The company has a market cap of $426.29 million, a P/E ratio of -14.91 and a beta of 0.29. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.44 and a quick ratio of 0.45. Donegal Group has a fifty-two week low of $12.42 and a fifty-two week high of $15.43.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Monday, July 29th. The insurance provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.05 by $0.08. The business had revenue of $197.22 million during the quarter, compared to analysts’ expectations of $196.30 million. Donegal Group had a net margin of 1.75% and a return on equity of 0.39%. On average, analysts expect that Donegal Group will post 0.8 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend was Wednesday, July 31st. Donegal Group’s dividend payout ratio is currently -58.00%.

A number of hedge funds and other institutional investors have recently bought and sold shares of DGICA. Jacobs Levy Equity Management Inc. grew its position in Donegal Group by 33.0% in the second quarter. Jacobs Levy Equity Management Inc. now owns 17,513 shares of the insurance provider’s stock valued at $267,000 after acquiring an additional 4,350 shares during the last quarter. BlackRock Inc. grew its position in Donegal Group by 6.6% in the second quarter. BlackRock Inc. now owns 885,331 shares of the insurance provider’s stock valued at $13,518,000 after acquiring an additional 54,446 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in Donegal Group in the second quarter valued at about $189,000. OLD Republic International Corp grew its position in Donegal Group by 7.9% in the second quarter. OLD Republic International Corp now owns 664,500 shares of the insurance provider’s stock valued at $10,147,000 after acquiring an additional 48,400 shares during the last quarter. Finally, Northern Trust Corp grew its position in Donegal Group by 3.6% in the second quarter. Northern Trust Corp now owns 140,294 shares of the insurance provider’s stock valued at $2,142,000 after acquiring an additional 4,845 shares during the last quarter. Hedge funds and other institutional investors own 30.44% of the company’s stock.

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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