Donegal Group (NASDAQ:DGICA - Free Report) had its price objective lifted by Keefe, Bruyette & Woods from $17.00 to $18.00 in a research note released on Friday morning, Marketbeat reports. The brokerage currently has a market perform rating on the insurance provider's stock.
Donegal Group Stock Performance
Shares of NASDAQ DGICA traded up $0.27 during mid-day trading on Friday, hitting $19.43. The stock had a trading volume of 221,802 shares, compared to its average volume of 80,212. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The company has a 50 day moving average of $18.18 and a two-hundred day moving average of $16.37. Donegal Group has a twelve month low of $12.26 and a twelve month high of $20.51. The firm has a market cap of $692.47 million, a PE ratio of 12.78 and a beta of -0.05.
Donegal Group (NASDAQ:DGICA - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.38. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. The firm had revenue of $245.57 million for the quarter, compared to the consensus estimate of $248.73 million. Research analysts predict that Donegal Group will post 1.2 EPS for the current fiscal year.
Donegal Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a $0.1825 dividend. This is an increase from Donegal Group's previous quarterly dividend of $0.17. The ex-dividend date is Thursday, May 1st. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.76%. Donegal Group's dividend payout ratio is presently 35.61%.
Insider Buying and Selling
In related news, major shareholder Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average cost of $18.14 per share, for a total transaction of $145,120.00. Following the completion of the transaction, the insider now owns 13,334,382 shares in the company, valued at $241,885,689.48. The trade was a 0.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP William Daniel Delamater sold 12,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $17.77, for a total value of $213,240.00. Following the completion of the sale, the executive vice president now owns 1,495 shares of the company's stock, valued at $26,566.15. This trade represents a 88.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 105,908 shares of company stock valued at $1,865,086 and have sold 47,119 shares valued at $845,651. 6.63% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Donegal Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its stake in shares of Donegal Group by 38.7% in the 3rd quarter. Barclays PLC now owns 64,952 shares of the insurance provider's stock valued at $957,000 after purchasing an additional 18,132 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Donegal Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider's stock valued at $5,371,000 after purchasing an additional 4,933 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Donegal Group in the 4th quarter valued at $128,000. Bleakley Financial Group LLC acquired a new position in shares of Donegal Group in the 4th quarter valued at $244,000. Finally, Private Advisor Group LLC acquired a new position in shares of Donegal Group in the 4th quarter valued at $177,000. Institutional investors and hedge funds own 27.96% of the company's stock.
About Donegal Group
(
Get Free Report)
Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.
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