Donegal Group (NASDAQ:DGICA) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

by · The Markets Daily

Donegal Group (NASDAQ:DGICA – Get Free Report) announced its quarterly earnings results on Thursday. The insurance provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.02), FiscalAI reports. Donegal Group had a net margin of 8.11% and a return on equity of 12.99%. The company had revenue of $240.14 million during the quarter, compared to analyst estimates of $241.10 million.

Donegal Group Stock Down 1.0%

NASDAQ:DGICA opened at $17.39 on Friday. The company has a market cap of $637.17 million, a price-to-earnings ratio of 7.94 and a beta of 0.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39. The stock’s fifty day moving average price is $19.32 and its two-hundred day moving average price is $19.10. Donegal Group has a 52-week low of $15.26 and a 52-week high of $21.12.

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd were given a $0.1825 dividend. This represents a $0.73 annualized dividend and a yield of 4.2%. The ex-dividend date was Tuesday, February 3rd. Donegal Group’s payout ratio is 30.17%.

Insider Transactions at Donegal Group

In other news, major shareholder Mutual Insurance Co Donegal purchased 22,819 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were acquired at an average price of $20.05 per share, for a total transaction of $457,520.95. Following the completion of the acquisition, the insider directly owned 13,913,704 shares in the company, valued at approximately $278,969,765.20. The trade was a 0.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kristi Spencer Altshuler sold 12,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $20.25, for a total transaction of $243,000.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders bought 106,343 shares of company stock worth $2,115,435 and sold 17,174 shares worth $346,833. 6.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Donegal Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised 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 valued at $774,000 after acquiring an additional 22,978 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Donegal Group by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock worth $2,155,000 after purchasing an additional 8,004 shares during the period. Empowered Funds LLC increased its holdings in Donegal Group by 1.9% in the first quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock valued at $1,802,000 after purchasing an additional 1,696 shares during the last quarter. Jane Street Group LLC acquired a new position in Donegal Group in the first quarter valued at about $689,000. Finally, Rhumbline Advisers boosted its holdings in Donegal Group by 22.3% during the second quarter. Rhumbline Advisers now owns 32,824 shares of the insurance provider’s stock worth $657,000 after buying an additional 5,981 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

More Donegal Group News

Here are the key news stories impacting Donegal Group this week:

Analyst Upgrades and Downgrades

DGICA has been the subject of several recent analyst reports. Zacks Research lowered shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Keefe, Bruyette & Woods decreased their price target on Donegal Group from $21.00 to $19.50 and set a “market perform” rating on the stock in a research report on Friday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Read Our Latest Stock Analysis on DGICA

Donegal Group Company Profile

(Get Free Report)

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.

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