Janney Montgomery Scott LLC increased its position in shares of Donegal Group, Inc. (NASDAQ:DGICA) by 37.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 99,092 shares of the insurance provider’s stock after buying an additional 27,133 shares during the period. Janney Montgomery Scott LLC owned 0.36% of Donegal Group worth $1,576,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Pacific Ridge Capital Partners LLC boosted its stake in shares of Donegal Group by 29.9% in the first quarter. Pacific Ridge Capital Partners LLC now owns 32,006 shares of the insurance provider’s stock worth $564,000 after buying an additional 7,360 shares in the last quarter. Hancock Holding Co. bought a new stake in shares of Donegal Group during the first quarter worth $194,000. Martingale Asset Management L P boosted its stake in shares of Donegal Group by 15.1% in the first quarter. Martingale Asset Management L P now owns 68,417 shares of the insurance provider’s stock worth $1,206,000 after buying an additional 9,000 shares in the last quarter. TFS Capital LLC bought a new stake in shares of Donegal Group during the first quarter worth $238,000. Finally, FormulaFolio Investments LLC boosted its stake in shares of Donegal Group by 1.6% in the first quarter. FormulaFolio Investments LLC now owns 22,786 shares of the insurance provider’s stock worth $401,000 after buying an additional 354 shares in the last quarter. Institutional investors and hedge funds own 29.11% of the company’s stock.
Donegal Group, Inc. (DGICA) opened at 15.00 on Wednesday. Donegal Group, Inc. has a one year low of $14.49 and a one year high of $18.55. The firm has a market cap of $409.22 million, a PE ratio of 31.78 and a beta of 0.31. The company has a 50 day moving average of $15.49 and a 200-day moving average of $16.33.
Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Wednesday, July 19th. The insurance provider reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.04. The company had revenue of $182.48 million for the quarter, compared to analysts’ expectations of $185.20 million. Donegal Group had a return on equity of 2.24% and a net margin of 1.84%. On average, equities research analysts predict that Donegal Group, Inc. will post $0.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.56 annualized dividend and a dividend yield of 3.73%. Donegal Group’s payout ratio is currently 114.29%.
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DGICA has been the subject of a number of research reports. Boenning Scattergood restated a “hold” rating on shares of Donegal Group in a report on Friday, July 14th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $19.00 price objective on shares of Donegal Group in a report on Friday, July 14th. BidaskClub cut shares of Donegal Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research cut shares of Donegal Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 25th.
Donegal Group Company Profile
Donegal Group Inc (DGI) is an insurance holding company whose insurance subsidiaries offer personal and commercial lines of property and casualty insurance. The Company offered its insurance business to various businesses and individuals in 21 Mid-Atlantic, Midwestern, New England and Southern states, as of December 31, 2016.
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