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

Donegal Group (NASDAQ:DGICA) is expected to issue its results before the market opens on Thursday, February 19th. Analysts expect the company to announce earnings of $0.52 per share and revenue of $241.10 million for the quarter.

Donegal Group Stock Performance

Donegal Group stock opened at $18.66 on Thursday. Donegal Group has a 12-month low of $14.93 and a 12-month high of $21.12. The company has a market capitalization of $683.74 million, a price-to-earnings ratio of 7.71 and a beta of 0.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39. The firm’s fifty day moving average price is $19.53 and its 200 day moving average price is $19.05.

Donegal Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd will be issued a $0.1825 dividend. This represents a $0.73 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, February 3rd. Donegal Group’s payout ratio is currently 30.17%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DGICA. Zacks Research lowered shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Keefe, Bruyette & Woods increased their price target on Donegal Group from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Donegal Group in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.00.

Insider Transactions at Donegal Group

In other news, major shareholder Mutual Insurance Co Donegal bought 22,819 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was purchased at an average cost of $20.05 per share, for a total transaction of $457,520.95. Following the completion of the transaction, the insider directly owned 13,913,704 shares of the company’s stock, valued at approximately $278,969,765.20. This trade represents a 0.16% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin Michael Sr Kraft, Sr. sold 4,500 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $20.02, for a total transaction of $90,090.00. Following the completion of the sale, the director directly owned 13,436 shares of the company’s stock, valued at $268,988.72. The trade was a 25.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders purchased 196,438 shares of company stock valued at $3,797,870 and sold 17,174 shares valued at $346,833. Company insiders own 6.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in Donegal Group by 117.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock valued at $4,718,000 after buying an additional 127,470 shares during the period. Geode Capital Management LLC grew its stake in Donegal Group by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 534,703 shares of the insurance provider’s stock valued at $10,685,000 after acquiring an additional 11,891 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Donegal Group by 2.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 135,410 shares of the insurance provider’s stock valued at $2,626,000 after purchasing an additional 3,100 shares during the period. Virtus Advisers LLC purchased a new stake in shares of Donegal Group in the third quarter worth approximately $144,000. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Donegal Group by 1.0% during the third quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider’s stock worth $2,576,000 after purchasing an additional 1,274 shares during the period. 27.96% of the stock is currently owned by institutional investors and hedge funds.

About Donegal Group

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.