Key Points
- Mutual Insurance Co Donegal bought 6,794 shares on Nov. 12 at an average of $19.74 (part of a recent accumulation including 29,000 shares on Nov. 13), increasing its direct stake to 13,708,670 shares valued at about $270.6 million.
- Donegal declared a quarterly dividend of $0.1825 per share (ex-dividend Nov. 3, payable Nov. 17), implying a $0.73 annualized payout and a 3.7% yield, and reported a Q3 EPS beat of $0.52 versus $0.37 consensus on $245.9 million in revenue.
- Shares traded around $19.98 (up 0.5%), the company has a market cap of ~$729.5 million and a P/E of 8.39, while analysts' consensus rating is "Buy" with an average price target of $18.00.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) SVP Rick Joseph Hecker sold 900 shares of the company's stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $19.74, for a total transaction of $17,766.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Donegal Group Price Performance
Shares of DGICA traded up $0.09 during trading hours on Friday, reaching $19.98. 141,096 shares of the stock traded hands, compared to its average volume of 130,726. The company has a market cap of $732.11 million, a P/E ratio of 8.39 and a beta of 0.01. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06. The company's 50-day moving average price is $19.25 and its two-hundred day moving average price is $18.95. Donegal Group, Inc. has a 52-week low of $14.17 and a 52-week high of $21.12.
Donegal Group (NASDAQ:DGICA - Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.15. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%.The business had revenue of $245.92 million for the quarter, compared to analysts' expectations of $244.19 million. On average, analysts anticipate 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 Monday, November 17th. Stockholders of record on Monday, November 3rd will be issued a $0.1825 dividend. The ex-dividend date is Monday, November 3rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.7%. Donegal Group's payout ratio is 30.17%.
Analyst Ratings Changes
Several research analysts recently commented on DGICA shares. Zacks Research upgraded Donegal Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Wall Street Zen lowered Donegal Group from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Janney Montgomery Scott raised shares of Donegal Group from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 2nd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Donegal Group in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Donegal Group has an average rating of "Buy" and a consensus target price of $18.00.
Get Our Latest Stock Report on Donegal Group
Institutional Investors Weigh In On Donegal Group
Large investors have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new position in Donegal Group in the third quarter worth approximately $26,000. Versant Capital Management Inc lifted its stake 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 worth $58,000 after purchasing an additional 1,329 shares during the last quarter. Allworth Financial LP boosted its position in Donegal Group by 477.2% during the second quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider's stock valued at $59,000 after purchasing an additional 2,448 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Donegal Group by 422.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider's stock valued at $74,000 after purchasing an additional 2,975 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Donegal Group by 443.9% in 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. Institutional investors own 27.96% of the company's stock.
Donegal Group Company Profile
(
Get Free Report)
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.
Further Reading
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