Donegal Group (NASDAQ:DGICA) Posts Quarterly Earnings Results

Donegal Group (NASDAQ:DGICA) issued its quarterly earnings data on Thursday. The insurance provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02), FiscalAI reports. The firm had revenue of $240.14 million for the quarter, compared to analysts’ expectations of $241.10 million. Donegal Group had a net margin of 8.72% and a return on equity of 14.28%.

Donegal Group Trading Down 1.3%

NASDAQ DGICA traded down $0.23 during trading on Friday, hitting $17.33. The stock had a trading volume of 20,511 shares, compared to its average volume of 113,883. Donegal Group has a one year low of $15.26 and a one year high of $21.12. The stock has a 50 day simple moving average of $19.38 and a 200 day simple moving average of $19.09. The stock has a market capitalization of $635.12 million, a price-to-earnings ratio of 7.14 and a beta of 0.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39.

Donegal Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd were given a $0.1825 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, February 3rd. Donegal Group’s dividend payout ratio is 30.17%.

Insider Transactions at Donegal Group

In related news, VP Kristi Spencer Altshuler sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $20.25, for a total transaction of $243,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin Michael Sr Kraft, Sr. sold 4,500 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $20.02, for a total value of $90,090.00. Following the completion of the transaction, the director directly owned 13,436 shares in the company, valued at $268,988.72. This trade represents a 25.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have acquired 106,343 shares of company stock worth $2,115,435 and have sold 17,174 shares worth $346,833. Company insiders own 6.63% of the company’s stock.

Institutional Trading of Donegal Group

A number of hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in Donegal Group by 117.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock valued at $4,718,000 after purchasing an additional 127,470 shares during the period. Two Sigma Investments LP boosted its stake in shares of Donegal Group by 139.8% during the third quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock valued at $2,956,000 after purchasing an additional 88,878 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in Donegal Group by 157.1% during the second quarter. Qube Research & Technologies Ltd now owns 131,574 shares of the insurance provider’s stock valued at $2,635,000 after buying an additional 80,395 shares during the period. Norges Bank purchased a new position in Donegal Group during the second quarter valued at approximately $1,053,000. Finally, First Trust Advisors LP bought a new position in Donegal Group in the third quarter worth approximately $1,001,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DGICA has been the topic of several recent research reports. Zacks Research cut Donegal Group from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Keefe, Bruyette & Woods decreased their price target on shares of Donegal Group from $21.00 to $19.50 and set a “market perform” rating on the stock in a research note on Friday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

About Donegal Group

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.