Arrowstreet Capital Limited Partnership lifted its stake in Donegal Group Inc. (NASDAQ:DGICA) by 24.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,787 shares of the insurance provider’s stock after purchasing an additional 7,889 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.15% of Donegal Group worth $706,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in Donegal Group during the fourth quarter worth about $146,000. The Manufacturers Life Insurance Company raised its position in Donegal Group by 78.7% during the second quarter. The Manufacturers Life Insurance Company now owns 11,817 shares of the insurance provider’s stock worth $189,000 after acquiring an additional 5,203 shares during the last quarter. Bailard Inc. acquired a new position in Donegal Group during the fourth quarter worth about $334,000. Schwab Charles Investment Management Inc. raised its position in Donegal Group by 23.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 31,446 shares of the insurance provider’s stock worth $545,000 after acquiring an additional 6,048 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in Donegal Group by 22.7% during the third quarter. First Eagle Investment Management LLC now owns 62,200 shares of the insurance provider’s stock worth $1,003,000 after acquiring an additional 11,497 shares during the last quarter. Hedge funds and other institutional investors own 31.92% of the company’s stock.
A number of equities analysts have issued reports on the stock. BidaskClub upgraded shares of Donegal Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 6th. TheStreet cut shares of Donegal Group from a “b” rating to a “c+” rating in a research report on Friday, February 23rd. Zacks Investment Research cut shares of Donegal Group from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Boenning Scattergood restated a “buy” rating on shares of Donegal Group in a research report on Monday, February 26th. Finally, Keefe, Bruyette & Woods set a $19.00 price target on shares of Donegal Group and gave the stock a “buy” rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $19.33.
Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Friday, February 23rd. The insurance provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.35). The firm had revenue of $188.55 million for the quarter, compared to analysts’ expectations of $190.40 million. Donegal Group had a return on equity of 1.83% and a net margin of 0.96%. research analysts predict that Donegal Group Inc. will post 1 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, January 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.66%. Donegal Group’s dividend payout ratio (DPR) is presently 215.39%.
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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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