Donegal Group (NASDAQ:DGICA) Shares Cross Above 200 Day Moving Average – Here’s Why

Donegal Group, Inc. (NASDAQ:DGICA)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $19.03 and traded as high as $19.48. Donegal Group shares last traded at $18.57, with a volume of 130,808 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DGICA. Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a report on Wednesday, October 8th. Zacks Research lowered Donegal Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Finally, Keefe, Bruyette & Woods increased their price objective on Donegal Group from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Tuesday, January 6th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Donegal Group Price Performance

The stock has a market cap of $680.40 million, a PE ratio of 7.67 and a beta of 0.05. The business has a fifty day simple moving average of $19.92 and a two-hundred day simple moving average of $19.03. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.06.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $244.19 million. Donegal Group had a return on equity of 14.28% and a net margin of 8.72%. Research analysts forecast that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Announces Dividend

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 $0.1825 dividend. The ex-dividend date of this dividend is Tuesday, February 3rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.9%. Donegal Group’s dividend payout ratio is currently 30.17%.

Insider Transactions at Donegal Group

In other Donegal Group news, VP Kristi Spencer Altshuler sold 12,000 shares of Donegal Group stock in a transaction on Monday, December 1st. The stock was sold at an average price of $20.25, for a total transaction of $243,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Mutual Insurance Co Donegal bought 51,404 shares of the company’s stock in a transaction on Friday, November 21st. The stock was bought at an average cost of $17.86 per share, for a total transaction of $918,075.44. Following the completion of the acquisition, the insider directly owned 13,784,361 shares of the company’s stock, valued at approximately $246,188,687.46. This represents a 0.37% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 263,529 shares of company stock valued at $5,099,413 and have sold 27,074 shares valued at $539,064. Company insiders own 6.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new stake in Donegal Group in the 3rd quarter worth about $26,000. Allworth Financial LP boosted its holdings in shares of Donegal Group by 477.2% during the 2nd quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 2,448 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Donegal Group by 79.1% during the 3rd quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock valued at $58,000 after acquiring an additional 1,329 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Donegal Group by 422.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after acquiring an additional 2,975 shares during the period. Finally, Tower Research Capital LLC TRC raised 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 valued at $99,000 after purchasing an additional 4,022 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

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.