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

Donegal Group (NASDAQ:DGICA) announced its earnings results on Thursday. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06, FiscalAI reports. The business had revenue of $237.66 million for the quarter, compared to analyst estimates of $214.12 million. Donegal Group had a return on equity of 10.49% and a net margin of 7.24%.

Donegal Group Stock Down 0.6%

DGICA stock opened at $18.72 on Friday. The company has a market cap of $694.89 million, a price-to-earnings ratio of 10.01 and a beta of -0.03. Donegal Group has a twelve month low of $16.11 and a twelve month high of $21.06. The business has a 50 day moving average price of $18.71 and a two-hundred day moving average price of $18.15. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group Announces Dividend

The business also recently declared 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. This represents a $0.77 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Monday, November 2nd. Donegal Group’s dividend payout ratio (DPR) is currently 39.90%.

Insider Activity at Donegal Group

In related news, CAO David Bawel sold 8,326 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $19.28, for a total transaction of $160,525.28. Following the transaction, the chief accounting officer directly owned 22,331 shares in the company, valued at approximately $430,541.68. The trade was a 27.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry Huber sold 4,500 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $19.43, for a total transaction of $87,435.00. Following the transaction, the director owned 16,567 shares in the company, valued at approximately $321,896.81. The trade was a 21.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have purchased 220,437 shares of company stock worth $4,218,669 and have sold 111,108 shares worth $2,153,119. 2.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised 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. Weiss Ratings upgraded shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. Finally, Zacks Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Donegal Group has an average 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.