Donegal Group’s (DGICA) “Hold” Rating Reiterated at Boenning Scattergood

Boenning Scattergood reaffirmed their hold rating on shares of Donegal Group (NASDAQ:DGICA) in a research note issued to investors on Wednesday. Boenning Scattergood also issued estimates for Donegal Group’s Q4 2018 earnings at $0.27 EPS, FY2018 earnings at ($0.40) EPS, Q1 2019 earnings at $0.21 EPS, Q2 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.15 EPS, Q4 2019 earnings at $0.31 EPS, FY2019 earnings at $0.80 EPS and FY2020 earnings at $1.00 EPS.

A number of other equities research analysts also recently issued reports on DGICA. BidaskClub upgraded Donegal Group from a sell rating to a hold rating in a research note on Wednesday, July 11th. Zacks Investment Research downgraded Donegal Group from a hold rating to a strong sell rating in a research note on Thursday, October 25th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $18.00.

NASDAQ:DGICA traded up $0.07 during mid-day trading on Wednesday, reaching $13.60. The company’s stock had a trading volume of 45,341 shares, compared to its average volume of 17,839. Donegal Group has a 12-month low of $13.02 and a 12-month high of $18.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $379.95 million, a price-to-earnings ratio of 45.33 and a beta of 0.39.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Tuesday, October 30th. The insurance provider reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.14). Donegal Group had a negative return on equity of 4.16% and a negative net margin of 2.65%. The business had revenue of $196.44 million during the quarter, compared to analysts’ expectations of $195.80 million. As a group, research analysts predict that Donegal Group will post -0.4 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be paid a dividend of $0.1425 per share. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $0.57 dividend on an annualized basis and a dividend yield of 4.19%. Donegal Group’s dividend payout ratio is currently 190.00%.

In other Donegal Group news, Director Patricia A. Gilmartin sold 8,229 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $14.65, for a total transaction of $120,554.85. Following the completion of the sale, the director now directly owns 500 shares in the company, valued at approximately $7,325. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 13.13% of the company’s stock.

Several large investors have recently made changes to their positions in DGICA. Ramsey Quantitative Systems grew its stake in shares of Donegal Group by 115.0% during the 3rd quarter. Ramsey Quantitative Systems now owns 7,720 shares of the insurance provider’s stock valued at $110,000 after acquiring an additional 4,129 shares during the period. Citadel Advisors LLC bought a new position in shares of Donegal Group during the 2nd quarter valued at approximately $213,000. Schwab Charles Investment Management Inc. grew its stake in shares of Donegal Group by 37.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 43,302 shares of the insurance provider’s stock valued at $685,000 after acquiring an additional 11,856 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Donegal Group by 104.8% during the 1st quarter. Allianz Asset Management GmbH now owns 150,687 shares of the insurance provider’s stock valued at $2,381,000 after acquiring an additional 77,097 shares during the period. Finally, TCW Group Inc. grew its stake in shares of Donegal Group by 9.6% during the 2nd quarter. TCW Group Inc. now owns 180,998 shares of the insurance provider’s stock valued at $2,463,000 after acquiring an additional 15,881 shares during the period. Institutional investors own 31.26% of the company’s stock.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, Commercial Lines of Insurance, and Investment in DFSC.

Further Reading: What is the Ex-Dividend Date in Investing?

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