Keefe, Bruyette & Woods Issues Positive Forecast for Donegal Group (NASDAQ:DGICA) Stock Price

Donegal Group (NASDAQ:DGICA) had its target price increased by Keefe, Bruyette & Woods from $20.00 to $21.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a market perform rating on the insurance provider’s stock.

DGICA has been the subject of a number of other reports. Zacks Research downgraded shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Donegal Group Stock Performance

DGICA opened at $19.63 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is $19.82 and its two-hundred day moving average price is $19.02. The firm has a market capitalization of $719.24 million, a P/E ratio of 8.11 and a beta of 0.05. Donegal Group has a 12-month low of $14.17 and a 12-month high of $21.12.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, October 30th. The insurance provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.15. The company had revenue of $245.92 million during the quarter, compared to analysts’ expectations of $244.19 million. Donegal Group had a return on equity of 14.28% and a net margin of 8.72%. On average, equities analysts forecast that Donegal Group will post 1.2 earnings per share for the current year.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Tuesday, February 3rd will be given a dividend of $0.1825 per share. This represents a $0.73 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, February 3rd. Donegal Group’s payout ratio is 30.17%.

Insider Activity at Donegal Group

In related news, Director Kevin Michael Sr Kraft, Sr. sold 4,500 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $20.02, for a total value of $90,090.00. Following the completion of the transaction, the director owned 13,436 shares of the company’s stock, valued at $268,988.72. This represents a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Mutual Insurance Co Donegal acquired 22,819 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were bought at an average cost of $20.05 per share, for a total transaction of $457,520.95. Following the completion of the acquisition, the insider directly owned 13,913,704 shares of the company’s stock, valued at approximately $278,969,765.20. This represents a 0.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 263,529 shares of company stock valued at $5,099,413 and have sold 27,074 shares valued at $539,064. 3.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Donegal Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in Donegal Group by 171.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,712 shares of the insurance provider’s stock valued at $440,000 after purchasing an additional 14,352 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Donegal Group by 2.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 135,410 shares of the insurance provider’s stock valued at $2,626,000 after buying an additional 3,100 shares in the last quarter. Virtus Advisers LLC bought a new position in shares of Donegal Group in the third quarter valued at about $144,000. Qube Research & Technologies Ltd raised its holdings in shares of Donegal Group by 1.0% in the third quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider’s stock valued at $2,576,000 after buying an additional 1,274 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in Donegal Group by 8.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock worth $237,000 after buying an additional 1,000 shares in the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

Donegal Group Company Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.