Donegal Group (NASDAQ:DGICA) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?
by Sarita Garza · The Markets DailyDonegal Group, Inc. (NASDAQ:DGICA – Get Free Report) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $18.05 and traded as high as $18.17. Donegal Group shares last traded at $18.02, with a volume of 123,729 shares trading hands.
Wall Street Analyst Weigh In
DGICA has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Donegal Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 17th. Keefe, Bruyette & Woods boosted their price target on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Donegal Group has a consensus rating of “Hold” and a consensus price target of $20.00.
View Our Latest Analysis on Donegal Group
Donegal Group Stock Down 1.3%
The stock has a market cap of $662.02 million, a P/E ratio of 9.24 and a beta of -0.01. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $18.95 and a 200-day simple moving average of $18.06.
Donegal Group (NASDAQ:DGICA – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The company had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Analysts expect that Donegal Group, Inc. will post 1.7 EPS for the current year.
Donegal Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.1925 dividend. This represents a $0.77 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s dividend payout ratio is currently 39.90%.
Insiders Place Their Bets
In other Donegal Group news, CFO Jeffrey Miller sold 21,000 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $19.23, for a total value of $403,830.00. Following the completion of the sale, the chief financial officer directly owned 27,176 shares of the company’s stock, valued at $522,594.48. This represents a 43.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kevin Burke sold 24,000 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $19.23, for a total transaction of $461,520.00. Following the completion of the sale, the insider owned 13,870 shares in the company, valued at $266,720.10. This represents a 63.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have acquired 220,437 shares of company stock valued at $4,218,669 and have sold 111,108 shares valued at $2,153,119. Insiders own 2.75% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. IFP Advisors Inc lifted its holdings in shares of Donegal Group by 27.8% during the second quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock valued at $174,000 after acquiring an additional 2,004 shares during the period. Amundi acquired a new position in Donegal Group in the first quarter worth $206,000. Allianz Asset Management GmbH bought a new stake in shares of Donegal Group during the second quarter worth $220,000. QRG Capital Management Inc. bought a new stake in shares of Donegal Group during the first quarter worth $223,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Donegal Group in the second quarter valued at $273,000. Institutional investors and hedge funds own 27.96% of the company’s stock.
About Donegal Group
Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of independent insurance agents. The company operates through regional insurance subsidiaries affiliated with Donegal Mutual Insurance Company and serves individuals, families, farms, and businesses.
Its personal insurance products generally include automobile, homeowners, dwelling fire, renters, and farmowners coverage. Donegal Group also offers commercial insurance, including businessowners policies, commercial automobile, commercial package, workers’ compensation, general liability, and related coverages.