Donegal Group (NASDAQ:DGICA) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Donegal Group, Inc. (NASDAQ:DGICA)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.76 and traded as high as $19.54. Donegal Group shares last traded at $19.25, with a volume of 93,699 shares traded.

Analyst Ratings Changes

A number of research firms have commented on DGICA. Zacks Research upgraded Donegal Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Wall Street Zen lowered Donegal Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Janney Montgomery Scott raised Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $18.00.

Donegal Group Stock Down 0.6%

The business has a 50-day moving average price of $18.07 and a two-hundred day moving average price of $18.76. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06. The firm has a market cap of $702.82 million and a PE ratio of 8.09.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The business had revenue of $233.81 million for the quarter, compared to analyst estimates of $247.21 million. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%. On average, equities research analysts expect that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $0.1825 dividend. The ex-dividend date was Friday, August 1st. This represents a $0.73 dividend on an annualized basis and a yield of 3.8%. Donegal Group’s dividend payout ratio (DPR) is currently 30.67%.

Insiders Place Their Bets

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal purchased 20,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were bought at an average cost of $19.53 per share, for a total transaction of $390,600.00. Following the completion of the purchase, the insider directly owned 13,654,579 shares in the company, valued at approximately $266,673,927.87. This represents a 0.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 212,958 shares of company stock valued at $3,965,746 in the last 90 days. 3.48% of the stock is owned by company insiders.

Institutional Trading of Donegal Group

A number of hedge funds and other institutional investors have recently bought and sold shares of DGICA. Allworth Financial LP raised its stake in Donegal Group by 477.2% in the second quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after buying an additional 2,448 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Donegal Group by 422.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 2,975 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Donegal Group by 443.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after purchasing an additional 4,022 shares during the last quarter. CWM LLC grew its holdings in shares of Donegal Group by 78.0% during the first quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock worth $101,000 after purchasing an additional 2,263 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Donegal Group during the second quarter worth about $101,000. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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.