Donegal Group (NASDAQ:DGICA) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other brokerages also recently issued reports on DGICA. Zacks Investment Research downgraded Donegal Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 25th. Boenning Scattergood reiterated a “hold” rating on shares of Donegal Group in a report on Wednesday, October 31st. Finally, ValuEngine upgraded Donegal Group from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Shares of DGICA opened at $13.59 on Tuesday. Donegal Group has a 52-week low of $12.74 and a 52-week high of $18.25. The firm has a market capitalization of $388.59 million, a price-to-earnings ratio of 45.30 and a beta of 0.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.43 and a quick ratio of 0.43.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Tuesday, October 30th. The insurance provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). Donegal Group had a negative return on equity of 4.19% and a negative net margin of 2.65%. The company had revenue of $196.44 million during the quarter, compared to analyst estimates of $195.80 million. On average, sell-side analysts forecast that Donegal Group will post -0.4 EPS for the current fiscal year.

In other news, Director Jack Lee Hess bought 3,000 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was bought at an average cost of $13.71 per share, for a total transaction of $41,130.00. Following the acquisition, the director now directly owns 11,963 shares of the company’s stock, valued at approximately $164,012.73. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patricia A. Gilmartin sold 8,229 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $14.65, for a total value of $120,554.85. Following the transaction, the director now owns 500 shares of the company’s stock, valued at $7,325. The disclosure for this sale can be found here. Corporate insiders own 13.13% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Ramsey Quantitative Systems boosted its holdings in Donegal Group by 115.0% during the 3rd quarter. Ramsey Quantitative Systems now owns 7,720 shares of the insurance provider’s stock valued at $110,000 after acquiring an additional 4,129 shares during the period. Citadel Advisors LLC purchased a new position in Donegal Group during the 2nd quarter valued at about $213,000. Allianz Asset Management GmbH boosted its holdings in Donegal Group by 244.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 78,377 shares of the insurance provider’s stock valued at $1,114,000 after acquiring an additional 55,599 shares during the period. TCW Group Inc. boosted its holdings in Donegal Group by 9.6% during the 2nd quarter. TCW Group Inc. now owns 180,998 shares of the insurance provider’s stock valued at $2,463,000 after acquiring an additional 15,881 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Donegal Group by 8.6% during the 3rd quarter. Wells Fargo & Company MN now owns 343,983 shares of the insurance provider’s stock valued at $4,889,000 after acquiring an additional 27,122 shares during the period. Institutional investors own 31.09% of the company’s stock.

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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