Keefe, Bruyette & Woods Cuts Donegal Group (NASDAQ:DGICA) Price Target to $19.00
by Michael Walen · The Markets DailyDonegal Group (NASDAQ:DGICA – Free Report) had its price objective decreased by Keefe, Bruyette & Woods from $19.50 to $19.00 in a report published on Tuesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the insurance provider’s stock.
Other equities analysts have also recently issued research reports about the stock. Zacks Research cut shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Donegal Group has an average rating of “Moderate Buy” and an average price target of $19.00.
Check Out Our Latest Stock Analysis on DGICA
Donegal Group Price Performance
Shares of NASDAQ DGICA opened at $17.53 on Tuesday. Donegal Group has a fifty-two week low of $16.43 and a fifty-two week high of $21.12. The stock has a market cap of $648.61 million, a price-to-earnings ratio of 8.00 and a beta of 0.05. 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’s 50-day simple moving average is $17.68 and its 200 day simple moving average is $18.89.
Donegal Group (NASDAQ:DGICA – Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The insurance provider reported $0.50 earnings per share 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. As a group, research analysts anticipate that Donegal Group will post 1.2 earnings per share for the current fiscal year.
Insider Activity at Donegal Group
In other news, major shareholder Mutual Insurance Co Donegal bought 9,000 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were purchased at an average price of $17.63 per share, with a total value of $158,670.00. Following the transaction, the insider directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William Daniel Delamater sold 9,000 shares of Donegal Group stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $17.63, for a total transaction 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 represents a 81.73% decrease in their position. The SEC filing for this sale provides additional information. 2.75% of the stock is owned by company insiders.
Hedge Funds Weigh In On Donegal Group
Several hedge funds have recently modified their holdings of DGICA. AQR Capital Management LLC lifted its position in shares of Donegal Group by 139.8% during the 1st quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock worth $774,000 after buying an additional 22,978 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Donegal Group by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock worth $2,155,000 after buying an additional 8,004 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Donegal Group by 1.9% during the 1st quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock worth $1,802,000 after buying an additional 1,696 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Donegal Group during the 1st quarter worth approximately $689,000. Finally, Rhumbline Advisers lifted its position in shares of Donegal Group by 22.3% during the 2nd quarter. Rhumbline Advisers now owns 32,824 shares of the insurance provider’s stock worth $657,000 after buying an additional 5,981 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.
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.