Donegal Group (NASDAQ:DGICA) Raised to “Buy” at StockNews.com

Donegal Group (NASDAQ:DGICA) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Donegal Group Price Performance

DGICA stock opened at $13.45 on Friday. Donegal Group has a 52-week low of $13.10 and a 52-week high of $15.76. The stock’s fifty day simple moving average is $13.84 and its 200-day simple moving average is $14.15. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $449.10 million, a price-to-earnings ratio of 84.06 and a beta of -0.07.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, February 22nd. The insurance provider reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.34). Donegal Group had a return on equity of 0.15% and a net margin of 0.55%. The business had revenue of $239.47 million for the quarter, compared to analyst estimates of $234.10 million. During the same quarter last year, the business earned $0.09 EPS. Equities research analysts expect that Donegal Group will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Donegal Group by 29.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,325 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 757 shares during the period. CWM LLC raised its position in Donegal Group by 170.9% in the fourth quarter. CWM LLC now owns 1,796 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 1,133 shares during the period. Swiss National Bank raised its position in Donegal Group by 3.7% in the third quarter. Swiss National Bank now owns 36,100 shares of the insurance provider’s stock valued at $515,000 after purchasing an additional 1,300 shares during the period. Allspring Global Investments Holdings LLC raised its position in Donegal Group by 3.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 42,604 shares of the insurance provider’s stock valued at $607,000 after purchasing an additional 1,387 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Donegal Group in the fourth quarter valued at about $124,000. 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.