Donegal Group (DGICA) Projected to Post Quarterly Earnings on Thursday

Donegal Group (NASDAQ:DGICA) will likely be announcing its earnings results before the market opens on Thursday, July 24th. Analysts expect the company to announce earnings of $0.39 per share and revenue of $247.21 million for the quarter.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, April 24th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.38. Donegal Group had a net margin of 7.06% and a return on equity of 12.82%. The business had revenue of $245.57 million for the quarter, compared to analysts’ expectations of $248.73 million. On average, analysts expect Donegal Group to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Donegal Group Stock Performance

NASDAQ DGICA opened at $18.50 on Thursday. Donegal Group has a 1 year low of $13.35 and a 1 year high of $21.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $667.85 million, a PE ratio of 9.02 and a beta of 0.01. The company’s 50 day simple moving average is $19.52 and its two-hundred day simple moving average is $17.85.

Insiders Place Their Bets

In other news, VP Vincent Anthony Viozzi sold 19,173 shares of Donegal Group stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $20.24, for a total transaction of $388,061.52. Following the sale, the vice president owned 8,143 shares of the company’s stock, valued at approximately $164,814.32. The trade was a 70.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William Daniel Delamater sold 8,696 shares of Donegal Group stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $19.78, for a total transaction of $172,006.88. Following the sale, the executive vice president directly owned 1,495 shares in the company, valued at $29,571.10. The trade was a 85.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,724 shares of company stock worth $3,269,040. 6.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Donegal Group

A number of large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its stake in Donegal Group by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock worth $2,155,000 after acquiring an additional 8,004 shares in the last quarter. Empowered Funds LLC boosted its stake in Donegal Group by 1.9% during the first quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock worth $1,802,000 after acquiring an additional 1,696 shares in the last quarter. AQR Capital Management LLC boosted its stake in Donegal Group by 139.8% during the first quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock worth $774,000 after acquiring an additional 22,978 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Donegal Group during the first quarter worth about $689,000. Institutional investors own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DGICA shares. Keefe, Bruyette & Woods raised their price objective on shares of Donegal Group from $17.00 to $18.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Wall Street Zen upgraded shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 6th.

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.