Zacks Investment Research Downgrades Donegal Group (NASDAQ:DGICA) to Hold

Donegal Group (NASDAQ:DGICA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

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. “

Other equities research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Donegal Group from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. BidaskClub downgraded shares of Donegal Group from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $16.50.

DGICA stock traded up $0.43 on Tuesday, hitting $13.84. 25,200 shares of the company were exchanged, compared to its average volume of 38,885. Donegal Group has a twelve month low of $11.22 and a twelve month high of $16.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47. The business’s fifty day moving average is $13.97 and its two-hundred day moving average is $14.28. The stock has a market capitalization of $399.74 million, a price-to-earnings ratio of 14.12 and a beta of 0.06.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Tuesday, April 28th. The insurance provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.33 by $0.10. Donegal Group had a net margin of 3.56% and a return on equity of 7.52%. The firm had revenue of $195.50 million during the quarter, compared to analyst estimates of $197.50 million. Equities research analysts expect that Donegal Group will post 1.25 earnings per share for the current year.

In other Donegal Group news, VP Vincent Anthony Viozzi sold 7,316 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $14.95, for a total transaction of $109,374.20. Following the transaction, the vice president now directly owns 6,803 shares in the company, valued at approximately $101,704.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.30% of the company’s stock.

Large investors have recently modified their holdings of the business. Meeder Asset Management Inc. raised its holdings in shares of Donegal Group by 1,794.7% during the first quarter. Meeder Asset Management Inc. now owns 1,800 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 1,705 shares during the period. Citigroup Inc. raised its holdings in shares of Donegal Group by 70.9% during the fourth quarter. Citigroup Inc. now owns 2,249 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 933 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Donegal Group during the fourth quarter worth $42,000. Sowell Financial Services LLC raised its holdings in shares of Donegal Group by 271.5% during the first quarter. Sowell Financial Services LLC now owns 2,961 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 2,164 shares during the period. Finally, Paradigm Asset Management Co. LLC acquired a new stake in shares of Donegal Group during the fourth quarter worth $98,000. 31.25% of the stock is currently owned by institutional investors.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides personal and commercial lines of 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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