Donegal Group (NASDAQ:DGICA) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Donegal Group (NASDAQ:DGICA) from a hold rating to a buy rating in a research note released on Friday.

Donegal Group Price Performance

DGICA stock opened at $13.45 on Friday. The business has a 50 day simple moving average of $13.84 and a 200-day simple moving average of $14.15. The company has a market capitalization of $449.10 million, a P/E ratio of 84.06 and a beta of -0.07. Donegal Group has a twelve month low of $13.10 and a twelve month high of $15.76. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, February 22nd. The insurance provider reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.34). Donegal Group had a net margin of 0.55% and a return on equity of 0.15%. The business had revenue of $239.47 million during the quarter, compared to analysts’ expectations of $234.10 million. During the same period in the previous year, the company posted $0.09 earnings per share. As a group, equities analysts anticipate that Donegal Group will post 0.55 EPS for the current year.

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a $0.172 dividend. This represents a $0.69 annualized dividend and a dividend yield of 5.12%. The ex-dividend date is Tuesday, May 7th. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio (DPR) is 425.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Donegal Group by 29.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,325 shares of the insurance provider’s stock worth $47,000 after acquiring an additional 757 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Donegal Group by 3.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 42,604 shares of the insurance provider’s stock valued at $607,000 after purchasing an additional 1,387 shares in the last quarter. Swiss National Bank lifted its stake in shares of Donegal Group by 3.7% in the third quarter. Swiss National Bank now owns 36,100 shares of the insurance provider’s stock valued at $515,000 after purchasing an additional 1,300 shares during the period. Brandywine Global Investment Management LLC grew its position in Donegal Group by 16.4% during the third quarter. Brandywine Global Investment Management LLC now owns 81,469 shares of the insurance provider’s stock worth $1,161,000 after buying an additional 11,473 shares during the period. Finally, Mariner LLC lifted its position in shares of Donegal Group by 62.6% during the 3rd quarter. Mariner LLC now owns 53,238 shares of the insurance provider’s stock valued at $759,000 after acquiring an additional 20,499 shares during the period. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Donegal Group Company Profile

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.