Zacks: Donegal Group Inc. (DGICA) Given $17.50 Consensus Target Price by Analysts

Donegal Group Inc. (NASDAQ:DGICA) has been given an average broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and one has issued a strong buy rating on the company.

Brokerages have set a 12 month consensus price objective of $17.50 for the company and are predicting that the company will post $0.28 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Donegal Group an industry rank of 189 out of 265 based on the ratings given to related companies.

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A number of brokerages have recently weighed in on DGICA. TheStreet downgraded Donegal Group from a “b” rating to a “c+” rating in a report on Friday, February 23rd. Zacks Investment Research downgraded Donegal Group from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Keefe, Bruyette & Woods set a $19.00 price target on Donegal Group and gave the company a “buy” rating in a report on Friday, February 23rd. BidaskClub downgraded Donegal Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Donegal Group in a report on Monday, February 26th.

DGICA stock traded up $0.05 during mid-day trading on Friday, reaching $14.81. The company’s stock had a trading volume of 85,700 shares, compared to its average volume of 32,130. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.14. Donegal Group has a 52 week low of $14.51 and a 52 week high of $18.25. The stock has a market cap of $416.22, a P/E ratio of 56.96 and a beta of 0.45.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Friday, February 23rd. The insurance provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.35). Donegal Group had a return on equity of 1.82% and a net margin of 0.96%. The business had revenue of $188.55 million for the quarter, compared to analysts’ expectations of $190.40 million. equities research analysts anticipate that Donegal Group will post 1 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its position in Donegal Group by 169.4% during the 4th quarter. Millennium Management LLC now owns 125,698 shares of the insurance provider’s stock worth $2,175,000 after acquiring an additional 79,035 shares during the period. Stone Ridge Asset Management LLC acquired a new position in Donegal Group during the 4th quarter worth $630,000. Deutsche Bank AG boosted its position in Donegal Group by 93.0% during the 4th quarter. Deutsche Bank AG now owns 85,808 shares of the insurance provider’s stock worth $1,481,000 after acquiring an additional 41,337 shares during the period. Renaissance Technologies LLC boosted its position in Donegal Group by 20.0% during the 4th quarter. Renaissance Technologies LLC now owns 456,500 shares of the insurance provider’s stock worth $7,897,000 after acquiring an additional 76,200 shares during the period. Finally, CWA Asset Management Group LLC boosted its position in Donegal Group by 7.9% during the 4th quarter. CWA Asset Management Group LLC now owns 200,988 shares of the insurance provider’s stock worth $3,477,000 after acquiring an additional 14,738 shares during the period. Institutional investors own 31.92% of the company’s stock.

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About Donegal Group

Donegal Group Inc (DGI) is an insurance holding company whose insurance subsidiaries offer personal and commercial lines of property and casualty insurance. The Company offered its insurance business to various businesses and individuals in 21 Mid-Atlantic, Midwestern, New England and Southern states, as of December 31, 2016.

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