Donegal Group (NASDAQ:DGICA) Lowered to Strong Sell at BidaskClub

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BidaskClub lowered shares of Donegal Group (NASDAQ:DGICA) from a sell rating to a strong sell rating in a research report released on Thursday morning, BidAskClub reports.

DGICA has been the subject of a number of other reports. ValuEngine lowered Donegal Group from a buy rating to a hold rating in a research report on Saturday, August 31st. Boenning Scattergood reaffirmed a hold rating on shares of Donegal Group in a research report on Tuesday, July 30th. Finally, TheStreet lowered Donegal Group from a b- rating to a c rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $16.00.

NASDAQ:DGICA opened at $14.48 on Thursday. The firm has a market capitalization of $404.58 million, a price-to-earnings ratio of -14.48 and a beta of 0.28. Donegal Group has a 1 year low of $12.42 and a 1 year high of $15.43. The business has a 50 day simple moving average of $14.50 and a 200-day simple moving average of $14.17. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.44 and a quick ratio of 0.44.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Monday, July 29th. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.08. Donegal Group had a return on equity of 0.39% and a net margin of 1.75%. The firm had revenue of $197.22 million during the quarter, compared to analyst estimates of $196.30 million. As a group, analysts expect that Donegal Group will post 0.8 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in Donegal Group by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,793,905 shares of the insurance provider’s stock valued at $24,478,000 after purchasing an additional 8,491 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Donegal Group by 6.6% in the 2nd quarter. BlackRock Inc. now owns 885,331 shares of the insurance provider’s stock valued at $13,518,000 after buying an additional 54,446 shares during the period. Kennedy Capital Management Inc. lifted its holdings in shares of Donegal Group by 8.8% in the 1st quarter. Kennedy Capital Management Inc. now owns 875,012 shares of the insurance provider’s stock valued at $11,769,000 after buying an additional 70,726 shares during the period. OLD Republic International Corp lifted its holdings in shares of Donegal Group by 7.9% in the 2nd quarter. OLD Republic International Corp now owns 664,500 shares of the insurance provider’s stock valued at $10,147,000 after buying an additional 48,400 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Donegal Group by 6.2% in the 2nd quarter. Renaissance Technologies LLC now owns 530,209 shares of the insurance provider’s stock valued at $8,096,000 after buying an additional 31,000 shares during the period. Hedge funds and other institutional investors own 30.63% of the company’s stock.

Donegal Group Company Profile

Donegal Group Inc, an insurance holding company, provides personal and commercial lines of 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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