Donegal Group (NASDAQ:DGICA) Stock Rating Lowered by Zacks Research

Donegal Group (NASDAQ:DGICA) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday, Zacks reports.

A number of other analysts also recently issued reports on DGICA. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Donegal Group currently has an average rating of “Hold” and an average price target of $20.00.

Donegal Group Stock Down 0.7%

NASDAQ DGICA opened at $18.73 on Thursday. The company has a market capitalization of $695.26 million, a P/E ratio of 9.70 and a beta of -0.01. Donegal Group has a one year low of $16.11 and a one year high of $21.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a 50 day moving average price of $19.01 and a 200-day moving average price of $18.02.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.11. The business had revenue of $241.12 million during the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. As a group, equities analysts predict that Donegal Group will post 1.7 EPS for the current fiscal year.

Insider Activity

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal acquired 54,725 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was bought at an average price of $19.23 per share, for a total transaction of $1,052,361.75. Following the acquisition, the insider directly owned 14,387,128 shares in the company, valued at $276,664,471.44. The trade was a 0.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey Miller sold 21,000 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $19.23, for a total value of $403,830.00. Following the completion of the transaction, the chief financial officer directly owned 27,176 shares in the company, valued at $522,594.48. This trade represents a 43.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders purchased 220,437 shares of company stock worth $4,218,669 and sold 111,108 shares worth $2,153,119. 2.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Donegal Group

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in shares of Donegal Group by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock worth $29,846,000 after acquiring an additional 7,345 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Donegal Group by 5.8% in the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock valued at $6,747,000 after purchasing an additional 21,500 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Donegal Group by 41.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after purchasing an additional 80,614 shares during the period. Royce & Associates LP boosted its holdings in shares of Donegal Group by 579.4% in the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock valued at $3,394,000 after purchasing an additional 144,853 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Donegal Group by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock worth $2,862,000 after purchasing an additional 9,075 shares in the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

Donegal Group Company Profile

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of independent insurance agents. The company operates through regional insurance subsidiaries affiliated with Donegal Mutual Insurance Company and serves individuals, families, farms, and businesses.

Its personal insurance products generally include automobile, homeowners, dwelling fire, renters, and farmowners coverage. Donegal Group also offers commercial insurance, including businessowners policies, commercial automobile, commercial package, workers’ compensation, general liability, and related coverages.