Donegal Group Inc. (NASDAQ:DGICA) – Analysts at Boenning Scattergood reduced their Q4 2018 earnings estimates for Donegal Group in a research note issued to investors on Wednesday, October 31st. Boenning Scattergood analyst R. Farnam now expects that the insurance provider will earn $0.27 per share for the quarter, down from their prior estimate of $0.36. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Donegal Group’s 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 raised shares of Donegal Group from a “sell” rating to a “hold” rating in a research report on Saturday, October 27th. Zacks Investment Research downgraded shares of Donegal Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.00.
Donegal Group (NASDAQ:DGICA) last announced 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). The business had revenue of $196.44 million during the quarter, compared to analyst estimates of $195.80 million. Donegal Group had a negative return on equity of 4.16% and a negative net margin of 2.65%.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be paid a $0.1425 dividend. This represents a $0.57 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Wednesday, October 31st. Donegal Group’s dividend payout ratio (DPR) is presently 190.00%.
In other Donegal Group news, Director Patricia A. Gilmartin sold 8,229 shares of Donegal Group stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $14.65, for a total value of $120,554.85. Following the completion of the sale, the director now directly owns 500 shares in the company, valued at $7,325. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.13% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of DGICA. Ramsey Quantitative Systems increased its position in Donegal Group by 115.0% during the third quarter. Ramsey Quantitative Systems now owns 7,720 shares of the insurance provider’s stock worth $110,000 after acquiring an additional 4,129 shares during the period. Citadel Advisors LLC bought a new position in Donegal Group during the second quarter worth $213,000. Schwab Charles Investment Management Inc. increased its position in Donegal Group by 37.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 43,302 shares of the insurance provider’s stock worth $685,000 after acquiring an additional 11,856 shares during the period. Allianz Asset Management GmbH increased its position in Donegal Group by 104.8% during the first quarter. Allianz Asset Management GmbH now owns 150,687 shares of the insurance provider’s stock worth $2,381,000 after acquiring an additional 77,097 shares during the period. Finally, TCW Group Inc. increased its position in Donegal Group by 9.6% during the second quarter. TCW Group Inc. now owns 180,998 shares of the insurance provider’s stock worth $2,463,000 after acquiring an additional 15,881 shares during the period. 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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