Zacks Investment Research upgraded shares of Donegal Group, Inc. (NASDAQ:DGICA) from a strong sell rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “Donegal Group Inc. is a regional property-casualty insurance holding company doing business in Mid-Atlantic and Southern states through its insurance subsidiaries: Atlantic States Insurance Company, Southern Heritage Insurance Company, Southern Insurance Company of Virginia, Delaware Atlantic Insurance Company, Pioneer Insurance Company, Ohio and Pioneer Insurance Company, New York. “
Several other brokerages have also issued reports on DGICA. BidaskClub lowered shares of Donegal Group from a sell rating to a strong sell rating in a report on Wednesday, July 19th. Keefe, Bruyette & Woods reissued a hold rating and set a $19.00 price objective on shares of Donegal Group in a report on Friday, July 14th. TheStreet lowered shares of Donegal Group from a b- rating to a c+ rating in a report on Wednesday, August 9th. Finally, Boenning Scattergood assumed coverage on shares of Donegal Group in a report on Thursday, May 25th. They set a neutral rating on the stock. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Donegal Group currently has a consensus rating of Hold and an average target price of $18.00.
Shares of Donegal Group (NASDAQ:DGICA) opened at 15.44 on Tuesday. Donegal Group has a 52-week low of $14.49 and a 52-week high of $18.55. The company has a market capitalization of $421.85 million, a PE ratio of 32.71 and a beta of 0.29. The firm’s 50-day moving average price is $15.27 and its 200 day moving average price is $16.00.
Donegal Group (NASDAQ:DGICA) last issued its earnings results on Wednesday, July 19th. The insurance provider reported ($0.11) EPS for the quarter, missing the Zacks’ 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 analysts forecast that Donegal Group will post $0.63 earnings per share for the current year.
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Several large investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of Donegal Group by 0.4% during the second quarter. Rhumbline Advisers now owns 11,052 shares of the insurance provider’s stock worth $176,000 after buying an additional 40 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Donegal Group by 0.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 40,211 shares of the insurance provider’s stock worth $640,000 after buying an additional 323 shares during the period. Hancock Holding Co. lifted its stake in shares of Donegal Group by 4.4% during the second quarter. Hancock Holding Co. now owns 11,470 shares of the insurance provider’s stock worth $182,000 after buying an additional 480 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Donegal Group by 2.5% during the second quarter. First Eagle Investment Management LLC now owns 50,703 shares of the insurance provider’s stock worth $806,000 after buying an additional 1,240 shares during the period. Finally, State Street Corp lifted its stake in shares of Donegal Group by 0.7% during the second quarter. State Street Corp now owns 203,048 shares of the insurance provider’s stock worth $3,230,000 after buying an additional 1,473 shares during the period. Institutional investors and hedge funds own 29.48% of the company’s stock.
About Donegal Group
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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