Key Points
- Mutual Insurance Co Donegal purchased 8,000 shares on Nov. 25 at $20.18, part of a multi-day buying spree (including 51,404 shares on Nov. 21), bringing its direct holdings to 13,800,361 shares valued at about $278.5M.
- Donegal Group reported an earnings beat (EPS $0.52 vs. $0.37 expected) and recently paid a quarterly dividend of $0.1825 (annualized yield ~3.6%).
- The stock trades around $20.50 with a PE of 8.6 and market cap ~$751M; analysts' consensus is "Buy" but the average price target sits at $18, below the current share price.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) Director Kevin Michael Sr Kraft, Sr. sold 4,500 shares of the firm's stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $20.02, for a total transaction of $90,090.00. Following the sale, the director owned 13,436 shares in the company, valued at approximately $268,988.72. The trade was a 25.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Donegal Group Stock Up 2.0%
Shares of Donegal Group stock traded up $0.40 during trading on Thursday, reaching $20.50. The stock had a trading volume of 139,145 shares, compared to its average volume of 130,254. 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 has a market capitalization of $751.16 million, a price-to-earnings ratio of 8.61 and a beta of 0.01. The stock has a fifty day moving average price of $19.34 and a two-hundred day moving average price of $18.96. 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 released its earnings results on Thursday, October 30th. The insurance provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.37 by $0.15. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%.The firm had revenue of $245.92 million for the quarter, compared to analysts' expectations of $244.19 million. Sell-side analysts predict that Donegal Group, Inc. will post 1.2 EPS for the current fiscal year.
Donegal Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were given a $0.1825 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, November 3rd. Donegal Group's dividend payout ratio (DPR) is 30.17%.
Analysts Set New Price Targets
A number of research firms recently weighed in on DGICA. Weiss Ratings reissued a "buy (b)" rating on shares of Donegal Group in a report on Wednesday, October 8th. Zacks Research upgraded shares of Donegal Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Wall Street Zen lowered shares of Donegal Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Janney Montgomery Scott upgraded shares of Donegal Group from a "neutral" rating to a "buy" rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $18.00.
Check Out Our Latest Stock Analysis on Donegal Group
Hedge Funds Weigh In On Donegal Group
Several hedge funds and other institutional investors have recently bought and sold shares of DGICA. State of Alaska Department of Revenue acquired a new stake in Donegal Group during the 3rd quarter worth about $26,000. Versant Capital Management Inc grew its stake in Donegal Group by 79.1% during the third 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 period. Allworth Financial LP increased its holdings in Donegal Group by 477.2% in the second quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider's stock worth $59,000 after purchasing an additional 2,448 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Donegal Group by 422.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider's stock valued at $74,000 after buying an additional 2,975 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Donegal Group by 443.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider's stock worth $99,000 after buying an additional 4,022 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company's stock.
About Donegal Group
(
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.
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