Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Donegal Group (NASDAQ:DGICA) Stock

Donegal Group (NASDAQ:DGICA - Free Report) had its target price increased by Keefe, Bruyette & Woods from $16.00 to $17.00 in a research report report published on Wednesday, MarketBeat reports. The brokerage currently has an outperform rating on the insurance provider's stock.

Donegal Group Stock Up 1.8 %

Shares of Donegal Group stock traded up $0.32 during trading hours on Wednesday, reaching $18.30. 47,326 shares of the company were exchanged, compared to its average volume of 77,261. The firm has a market cap of $652.19 million, a PE ratio of 12.04 and a beta of -0.05. The stock's fifty day moving average is $17.43 and its 200 day moving average is $16.06. Donegal Group has a 1 year low of $12.26 and a 1 year high of $19.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38.

Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.39. The business had revenue of $249.70 million during the quarter, compared to the consensus estimate of $250.61 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. As a group, equities research analysts forecast that Donegal Group will post 1.2 earnings per share for the current year.

Insider Activity at Donegal Group

In related news, major shareholder Mutual Insurance Co Donegal acquired 8,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost of $18.14 per share, for a total transaction of $145,120.00. Following the acquisition, the insider now directly owns 13,334,382 shares in the company, valued at approximately $241,885,689.48. The trade was a 0.06 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP David Wayne Sponic sold 5,537 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $18.17, for a total transaction of $100,607.29. Following the completion of the transaction, the senior vice president now owns 2,006 shares in the company, valued at $36,449.02. The trade was a 73.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 105,908 shares of company stock worth $1,865,086 and sold 47,119 shares worth $845,651. 6.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Donegal Group

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Donegal Group by 4,607.4% during the 1st quarter. GAMMA Investing LLC now owns 14,075 shares of the insurance provider's stock valued at $276,000 after acquiring an additional 13,776 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Donegal Group during the 4th quarter worth $173,000. Public Employees Retirement System of Ohio raised its holdings in Donegal Group by 167.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 12,905 shares of the insurance provider's stock valued at $200,000 after buying an additional 8,071 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Donegal Group by 9.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,254 shares of the insurance provider's stock worth $1,025,000 after purchasing an additional 5,487 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in Donegal Group by 15.4% in the 4th quarter. Squarepoint Ops LLC now owns 41,810 shares of the insurance provider's stock valued at $647,000 after buying an additional 5,568 shares during the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

Donegal Group Company Profile

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.