Donegal Group (NASDAQ:DGICA) Price Target Lowered to $19.00 at Keefe, Bruyette & Woods

Donegal Group (NASDAQ:DGICA) had its price target reduced by Keefe, Bruyette & Woods from $19.50 to $19.00 in a research note released on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the insurance provider’s stock.

A number of other equities research analysts have also weighed in on DGICA. Weiss Ratings restated a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, January 21st. Zacks Research lowered Donegal Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Donegal Group Trading Down 0.7%

Shares of DGICA opened at $17.12 on Tuesday. Donegal Group has a 52-week low of $16.43 and a 52-week high of $21.12. The business’s fifty day moving average is $17.71 and its 200-day moving average is $18.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $633.49 million, a price-to-earnings ratio of 7.82 and a beta of 0.05.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, February 19th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). Donegal Group had a net margin of 8.11% and a return on equity of 12.81%. The business had revenue of $240.14 million during the quarter, compared to the consensus estimate of $241.10 million. Equities analysts anticipate that Donegal Group will post 1.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Mutual Insurance Co Donegal purchased 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were acquired at an average cost of $17.63 per share, with a total value of $158,670.00. Following the purchase, the insider owned 13,937,704 shares in the company, valued at $245,721,721.52. This represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP William Daniel Delamater sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $17.63, for a total value of $158,670.00. Following the transaction, the executive vice president directly owned 2,012 shares in the company, valued at approximately $35,471.56. This trade represents a 81.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Donegal Group by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider’s stock worth $19,549,000 after purchasing an additional 39,181 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 worth $10,685,000 after purchasing an additional 11,891 shares in the last quarter. State Street Corp increased its holdings in Donegal Group by 0.8% during the 4th quarter. State Street Corp now owns 391,729 shares of the insurance provider’s stock worth $7,827,000 after purchasing an additional 3,290 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Donegal Group by 1.6% during the 4th quarter. Renaissance Technologies LLC now owns 371,211 shares of the insurance provider’s stock worth $7,417,000 after purchasing an additional 5,800 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Donegal Group by 5.0% during the 3rd quarter. ProShare Advisors LLC now owns 332,503 shares of the insurance provider’s stock worth $6,447,000 after purchasing an additional 15,765 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.