Donegal Group (NASDAQ:DGICA) Lifted to "Strong-Buy" at StockNews.com

Donegal Group (NASDAQ:DGICA - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a note issued to investors on Friday.

Donegal Group Trading Down 4.0 %

DGICA stock traded down $0.63 during trading on Friday, reaching $15.16. 53,431 shares of the stock were exchanged, compared to its average volume of 54,818. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $14.86 and a 200-day moving average price of $13.93. Donegal Group has a 1 year low of $12.26 and a 1 year high of $15.84. The firm has a market capitalization of $506.24 million, a price-to-earnings ratio of 94.75 and a beta of -0.06.

Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its earnings results on Thursday, October 24th. The insurance provider reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.44. Donegal Group had a net margin of 0.76% and a return on equity of 0.89%. The company had revenue of $249.86 million for the quarter, compared to the consensus estimate of $249.60 million. On average, research analysts predict that Donegal Group will post 0.45 earnings per share for the current year.

Insider Activity

In other news, VP Vincent Anthony Viozzi sold 30,000 shares of the business's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $15.24, for a total value of $457,200.00. Following the sale, the vice president now directly owns 9,891 shares of the company's stock, valued at approximately $150,738.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Donegal Group news, major shareholder Mutual Insurance Co Donegal bought 8,951 shares of the business's stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $13.50 per share, with a total value of $120,838.50. Following the purchase, the insider now directly owns 12,123,065 shares in the company, valued at approximately $163,661,377.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Vincent Anthony Viozzi sold 30,000 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $15.24, for a total transaction of $457,200.00. Following the sale, the vice president now directly owns 9,891 shares in the company, valued at approximately $150,738.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 139,437 shares of company stock valued at $2,062,143. Company insiders own 6.63% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DGICA. BNP Paribas Financial Markets grew its position in shares of Donegal Group by 125.0% in the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider's stock valued at $147,000 after buying an additional 5,757 shares during the last quarter. Empowered Funds LLC grew its position in shares of Donegal Group by 8.2% in the 1st quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider's stock valued at $1,573,000 after buying an additional 8,400 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Donegal Group by 34.7% in the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider's stock valued at $16,728,000 after buying an additional 304,477 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Donegal Group in the 1st quarter valued at $137,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Donegal Group by 30.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider's stock valued at $1,072,000 after buying an additional 17,614 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company's stock.

About Donegal Group

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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