Donegal Group (NASDAQ:DGICA) Downgraded by StockNews.com

StockNews.com downgraded shares of Donegal Group (NASDAQ:DGICA) from a strong-buy rating to a buy rating in a report issued on Wednesday.

Donegal Group Trading Down 0.9 %

DGICA opened at $14.60 on Wednesday. The stock has a market capitalization of $487.54 million, a P/E ratio of 91.25 and a beta of -0.05. Donegal Group has a 12 month low of $12.26 and a 12 month high of $15.45. The firm’s fifty day simple moving average is $14.76 and its 200 day simple moving average is $13.85. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. Donegal Group had a net margin of 0.76% and a return on equity of 0.89%. The business had revenue of $246.77 million for the quarter, compared to analysts’ expectations of $243.00 million. As a group, research analysts anticipate that Donegal Group will post 0.45 EPS for the current fiscal year.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a dividend of $0.172 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $0.69 annualized dividend and a yield of 4.71%. Donegal Group’s dividend payout ratio (DPR) is presently 431.25%.

Insider Transactions at Donegal Group

In related news, VP Vincent Anthony Viozzi sold 30,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $15.24, for a total value of $457,200.00. Following the transaction, the vice president now owns 9,891 shares in the company, valued at approximately $150,738.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Donegal Group news, VP Vincent Anthony Viozzi sold 30,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $15.24, for a total transaction of $457,200.00. Following the transaction, the vice president now owns 9,891 shares in the company, valued at approximately $150,738.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Mutual Insurance Co Donegal bought 3,848 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were acquired at an average price of $14.13 per share, for a total transaction of $54,372.24. Following the transaction, the insider now owns 12,143,459 shares in the company, valued at $171,587,075.67. The disclosure for this purchase can be found here. Insiders have bought 139,437 shares of company stock worth $2,062,143 in the last ninety days. Insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Donegal Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new position in shares of Donegal Group during the second quarter valued at $448,000. Hsbc Holdings PLC lifted its stake in shares of Donegal Group by 7.8% in the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock valued at $389,000 after buying an additional 2,250 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Donegal Group by 95.2% during the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after purchasing an additional 19,707 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Donegal Group during the second quarter valued at about $27,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Donegal Group by 4.4% during the second quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock valued at $1,669,000 after purchasing an additional 5,416 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.

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.