Donegal Group (DGICA) Expected to Release Earnings on Thursday

Donegal Group (NASDAQ:DGICA) is expected to release its results before the market opens on Thursday, July 30th. Analysts expect the company to announce earnings of $0.46 per share and revenue of $231.5280 million for the quarter.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). The company had revenue of $236.00 million during the quarter, compared to analyst estimates of $247.83 million. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%. On average, analysts expect Donegal Group to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Donegal Group Stock Up 0.8%

NASDAQ DGICA opened at $18.91 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a 50-day simple moving average of $18.00 and a 200 day simple moving average of $17.90. Donegal Group has a twelve month low of $16.11 and a twelve month high of $21.06. The stock has a market cap of $700.62 million and a PE ratio of 10.56.

Donegal Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.1925 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.77 annualized dividend and a yield of 4.1%. Donegal Group’s dividend payout ratio is 43.02%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DGICA shares. Keefe, Bruyette & Woods raised their price objective on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings cut Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.00.

Insider Activity at Donegal Group

In other news, major shareholder Mutual Insurance Co Donegal acquired 9,682 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of $17.62 per share, for a total transaction of $170,596.84. Following the transaction, the insider owned 14,136,691 shares of the company’s stock, valued at approximately $249,088,495.42. This represents a 0.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 139,487 shares of company stock worth $2,392,488 over the last quarter. 2.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Donegal Group

Several institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its holdings in Donegal Group by 576.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock valued at $55,000 after buying an additional 2,341 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after acquiring an additional 2,975 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Donegal Group by 31.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 896 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Donegal Group by 443.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after acquiring an additional 4,022 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Donegal Group during the 2nd quarter valued at $101,000. Institutional investors and hedge funds own 27.96% of the company’s stock.

Donegal Group Company Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.