Donegal Group Inc. (NASDAQ:DGICA) announced a quarterly dividend on Friday, December 22nd, Wall Street Journal reports. Shareholders of record on Thursday, February 1st will be given a dividend of 0.14 per share by the insurance provider on Thursday, February 15th. This represents a $0.56 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, January 31st.
Shares of Donegal Group (NASDAQ DGICA) opened at $17.69 on Friday. Donegal Group has a 1 year low of $14.51 and a 1 year high of $18.25. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.16. The stock has a market cap of $485.24, a P/E ratio of 38.46 and a beta of 0.30.
Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. The company had revenue of $185.72 million during the quarter, compared to analyst estimates of $187.60 million. Donegal Group had a net margin of 2.13% and a return on equity of 2.81%. sell-side analysts expect that Donegal Group will post 0.65 EPS for the current year.
In related news, Director Patricia A. Gilmartin sold 5,333 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $17.17, for a total value of $91,567.61. Following the sale, the director now owns 13,562 shares in the company, valued at $232,859.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jack Lee Hess bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was purchased at an average price of $16.78 per share, for a total transaction of $33,560.00. Following the transaction, the director now owns 4,489 shares of the company’s stock, valued at $75,325.42. The disclosure for this purchase can be found here. Insiders have bought 4,000 shares of company stock worth $68,040 in the last 90 days. Insiders own 11.90% of the company’s stock.
An institutional investor recently raised its position in Donegal Group stock. The Manufacturers Life Insurance Company grew its stake in Donegal Group Inc. (NASDAQ:DGICA) by 78.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,817 shares of the insurance provider’s stock after purchasing an additional 5,203 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Donegal Group were worth $189,000 at the end of the most recent quarter. 29.27% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on DGICA. TheStreet upgraded Donegal Group from a “c+” rating to a “b-” rating in a report on Friday, October 20th. Zacks Investment Research upgraded shares of Donegal Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 19th. Boenning Scattergood upgraded shares of Donegal Group from a “neutral” rating to an “outperform” rating and set a $19.00 target price for the company in a report on Tuesday, October 31st. Keefe, Bruyette & Woods upgraded shares of Donegal Group from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a report on Wednesday, November 1st. Finally, BidaskClub downgraded shares of Donegal Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Donegal Group currently has a consensus rating of “Buy” and an average target price of $19.67.
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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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