Donegal Group (DGICA) Cut to Sell at BidaskClub

BidaskClub cut shares of Donegal Group (NASDAQ:DGICA) from a hold rating to a sell rating in a research report report published on Saturday morning.

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

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Shares of DGICA stock opened at $15.29 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $431.16, a price-to-earnings ratio of 50.97 and a beta of 0.42. Donegal Group has a 52 week low of $14.51 and a 52 week high of $18.25.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in Donegal Group by 7.0% during the third quarter. Janney Montgomery Scott LLC now owns 105,992 shares of the insurance provider’s stock worth $1,710,000 after buying an additional 6,900 shares during the last quarter. Bailard Inc. acquired a new position in Donegal Group during the fourth quarter worth $334,000. Globeflex Capital L P acquired a new position in Donegal Group during the fourth quarter worth $501,000. Dimensional Fund Advisors LP increased its holdings in Donegal Group by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,659,577 shares of the insurance provider’s stock worth $26,769,000 after buying an additional 21,983 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Donegal Group by 119.8% during the fourth quarter. Allianz Asset Management GmbH now owns 73,590 shares of the insurance provider’s stock worth $1,273,000 after buying an additional 40,112 shares during the last quarter. Institutional investors own 31.06% of the company’s stock.

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About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, Commercial Lines of Insurance, and Investment in DFSC.

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