Donegal Group (DGICA) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of Donegal Group (NASDAQ:DGICA) from a strong sell rating to a sell rating in a research note released on Saturday morning.

Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Donegal Group from a buy rating to a hold rating in a research note on Tuesday, February 20th. Keefe, Bruyette & Woods set a $19.00 target price on Donegal Group and gave the stock a buy rating in a research note on Friday, February 23rd. Boenning Scattergood restated a buy rating on shares of Donegal Group in a research note on Monday, February 26th. Finally, TheStreet downgraded Donegal Group from a b rating to a c+ rating in a research note on Friday, February 23rd. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $19.33.

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DGICA stock opened at $14.81 on Friday. Donegal Group has a fifty-two week low of $14.51 and a fifty-two week high of $18.25. The stock has a market capitalization of $417.63, a price-to-earnings ratio of 56.96 and a beta of 0.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.43 and a quick ratio of 0.43.

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

Institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new stake in Donegal Group during the 4th quarter worth about $146,000. The Manufacturers Life Insurance Company lifted its position in Donegal Group by 78.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,817 shares of the insurance provider’s stock worth $189,000 after acquiring an additional 5,203 shares during the period. Bailard Inc. acquired a new stake in Donegal Group during the 4th quarter worth about $334,000. AXA acquired a new stake in Donegal Group during the 4th quarter worth about $405,000. Finally, Globeflex Capital L P acquired a new stake in Donegal Group during the 4th quarter worth about $501,000. 31.92% of the stock is owned by institutional investors.

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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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