BidaskClub Downgrades Donegal Group (DGICA) to Sell

BidaskClub cut shares of Donegal Group (NASDAQ:DGICA) from a hold rating to a sell rating in a research report released on Saturday morning.

Several other equities research analysts have also recently weighed in on DGICA. Boenning Scattergood restated a hold rating on shares of Donegal Group in a research report on Tuesday, July 31st. Zacks Investment Research raised shares of Donegal Group from a strong sell rating to a hold rating in a research note on Tuesday, September 18th. Finally, ValuEngine raised shares of Donegal Group from a hold rating to a buy rating in a research note on Thursday, November 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $18.00.

DGICA opened at $13.57 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $384.76 million, a price-to-earnings ratio of 45.03 and a beta of 0.39. Donegal Group has a 1-year low of $13.02 and a 1-year high of $18.25.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be paid a $0.1425 dividend. This represents a $0.57 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Wednesday, October 31st. Donegal Group’s dividend payout ratio (DPR) is presently 190.00%.

In other news, Director Patricia A. Gilmartin sold 8,229 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $14.65, for a total value of $120,554.85. Following the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $7,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.13% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Ramsey Quantitative Systems boosted its stake in Donegal Group by 115.0% during the 3rd quarter. Ramsey Quantitative Systems now owns 7,720 shares of the insurance provider’s stock worth $110,000 after acquiring an additional 4,129 shares during the last quarter. Citadel Advisors LLC bought a new position in Donegal Group during the 2nd quarter worth approximately $213,000. Schwab Charles Investment Management Inc. boosted its stake in 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 worth $685,000 after acquiring an additional 11,856 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Donegal Group by 104.8% during the 1st quarter. Allianz Asset Management GmbH now owns 150,687 shares of the insurance provider’s stock worth $2,381,000 after acquiring an additional 77,097 shares during the last quarter. Finally, TCW Group Inc. boosted its stake in Donegal Group by 9.6% during the 2nd quarter. TCW Group Inc. now owns 180,998 shares of the insurance provider’s stock worth $2,463,000 after acquiring an additional 15,881 shares during the last quarter. 31.25% of the stock is currently owned by institutional investors and hedge funds.

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.

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