Donegal Group (DGICA) Expected to Post Quarterly Earnings on Thursday

Donegal Group (NASDAQ:DGICA) is expected to be posting its results before the market opens on Thursday, July 30th. Analysts expect Donegal Group to post earnings of $0.46 per share and revenue of $231.5280 million for the quarter.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The firm had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million. On average, analysts expect Donegal Group to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Donegal Group Trading Up 1.5%

Shares of Donegal Group stock opened at $19.20 on Wednesday. The stock has a market capitalization of $711.36 million and a PE ratio of 10.73. Donegal Group has a 52 week low of $16.11 and a 52 week high of $21.06. The stock has a 50 day moving average price of $18.03 and a two-hundred day moving average price of $17.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, July 31st. Donegal Group’s dividend payout ratio (DPR) is currently 43.02%.

Analyst Ratings Changes

DGICA has been the subject of several research reports. Weiss Ratings downgraded shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods upped their price objective on shares of Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Insider Buying and Selling

In related news, major shareholder Mutual Insurance Co Donegal acquired 9,682 shares of the stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of $17.62 per share, with a total value of $170,596.84. Following the completion of the purchase, the insider directly owned 14,136,691 shares in the company, valued at $249,088,495.42. This trade represents a 0.07% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders purchased 139,487 shares of company stock worth $2,392,488. Insiders own 2.75% of the company’s stock.

Hedge Funds Weigh In On Donegal Group

Several institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD bought a new stake in Donegal Group in the fourth quarter worth about $203,000. Virtus Advisers LLC purchased a new position in Donegal Group in the third quarter valued at about $144,000. Public Employees Retirement System of Ohio grew its position in shares of Donegal Group by 8.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock valued at $237,000 after acquiring an additional 1,000 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Donegal Group during the 3rd quarter valued at approximately $195,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Donegal Group by 23.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 9,073 shares of the insurance provider’s stock worth $182,000 after purchasing an additional 1,748 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

About Donegal Group

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.