Donegal Group’s (DGICA) “Hold” Rating Reiterated at Boenning Scattergood

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Boenning Scattergood restated their hold rating on shares of Donegal Group (NASDAQ:DGICA) in a research report released on Wednesday. Boenning Scattergood also issued estimates for Donegal Group’s Q4 2018 earnings at $0.27 EPS, Q1 2019 earnings at $0.21 EPS, Q2 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.15 EPS, Q4 2019 earnings at $0.31 EPS and FY2020 earnings at $1.00 EPS.

DGICA has been the topic of several other reports. BidaskClub upgraded Donegal Group from a sell rating to a hold rating in a report on Wednesday, July 11th. Zacks Investment Research cut Donegal Group from a hold rating to a strong sell rating in a report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $19.00.

DGICA stock traded down $0.02 during trading on Wednesday, hitting $13.41. The stock had a trading volume of 32,337 shares, compared to its average volume of 16,683. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.15. Donegal Group has a twelve month low of $13.20 and a twelve month high of $18.25. The stock has a market cap of $379.95 million, a price-to-earnings ratio of 44.70 and a beta of 0.46.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Tuesday, October 30th. The insurance provider reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.14). Donegal Group had a negative return on equity of 4.16% and a negative net margin of 2.65%. The firm had revenue of $196.44 million during the quarter, compared to analyst estimates of $195.80 million. As a group, equities analysts forecast that Donegal Group will post -0.25 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be issued a dividend of $0.1425 per share. This represents a $0.57 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Wednesday, October 31st. Donegal Group’s dividend payout ratio is currently 190.00%.

In other news, Director Patricia A. Gilmartin sold 8,229 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $14.65, for a total transaction of $120,554.85. Following the transaction, the director now directly owns 500 shares in the company, valued at approximately $7,325. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 13.13% of the company’s stock.

Several institutional investors have recently modified their holdings of DGICA. Deprince Race & Zollo Inc. lifted its holdings in Donegal Group by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 290,172 shares of the insurance provider’s stock valued at $3,949,000 after acquiring an additional 4,112 shares during the last quarter. Ramsey Quantitative Systems lifted its holdings in Donegal Group by 115.0% in the third quarter. Ramsey Quantitative Systems now owns 7,720 shares of the insurance provider’s stock valued at $110,000 after acquiring an additional 4,129 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Donegal Group by 37.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 43,302 shares of the insurance provider’s stock valued at $685,000 after acquiring an additional 11,856 shares during the last quarter. Citadel Advisors LLC acquired a new position in Donegal Group in the second quarter valued at approximately $213,000. Finally, TCW Group Inc. lifted its holdings in Donegal Group by 9.6% in the second quarter. TCW Group Inc. now owns 180,998 shares of the insurance provider’s stock valued at $2,463,000 after acquiring an additional 15,881 shares during the last quarter. Institutional investors and hedge funds own 31.26% 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 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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