Donegal Group (NASDAQ:DGICA) Upgraded to Strong-Buy at StockNews.com

Donegal Group (NASDAQ:DGICA) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

Donegal Group Price Performance

Shares of DGICA opened at $15.16 on Friday. The stock has a market cap of $506.24 million, a P/E ratio of 94.75 and a beta of -0.06. Donegal Group has a 1 year low of $12.26 and a 1 year high of $15.84. The stock’s 50-day moving average price is $14.86 and its two-hundred day moving average price is $13.94. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, October 24th. The insurance provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.44. Donegal Group had a net margin of 0.76% and a return on equity of 0.89%. The business had revenue of $249.86 million during the quarter, compared to analysts’ expectations of $249.60 million. On average, equities analysts predict that Donegal Group will post 0.45 earnings per share for the current year.

Insiders Place Their Bets

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal acquired 6,005 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $15.34 per share, with a total value of $92,116.70. Following the completion of the transaction, the insider now directly owns 12,351,934 shares in the company, valued at $189,478,667.56. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Mutual Insurance Co Donegal acquired 6,005 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $15.34 per share, for a total transaction of $92,116.70. Following the acquisition, the insider now directly owns 12,351,934 shares of the company’s stock, valued at approximately $189,478,667.56. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Vincent Anthony Viozzi sold 30,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $15.24, for a total transaction of $457,200.00. Following the transaction, the vice president now owns 9,891 shares in the company, valued at approximately $150,738.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 139,437 shares of company stock worth $2,062,143. Corporate insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Innealta Capital LLC bought a new position in Donegal Group during the second quarter worth about $27,000. EntryPoint Capital LLC acquired a new stake in shares of Donegal Group in the first quarter valued at approximately $137,000. BNP Paribas Financial Markets boosted its stake in shares of Donegal Group by 125.0% during the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after acquiring an additional 5,757 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Donegal Group by 7.8% during the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after acquiring an additional 2,250 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in shares of Donegal Group during the 2nd quarter worth approximately $448,000. 27.96% of the stock is owned by institutional investors.

Donegal Group Company Profile

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.