Zacks Investment Research lowered shares of Donegal Group (NASDAQ:DGICA) from a buy rating to a hold rating in a research note published on Tuesday.
According to Zacks, “Donegal Group Inc. is a regional property-casualty insurance holding company doing business in Mid-Atlantic and Southern states through its insurance subsidiaries: Atlantic States Insurance Company, Southern Heritage Insurance Company, Southern Insurance Company of Virginia, Delaware Atlantic Insurance Company, Pioneer Insurance Company, Ohio and Pioneer Insurance Company, New York. “
Several other equities analysts have also commented on the company. BidaskClub lowered Donegal Group from a hold rating to a sell rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods raised Donegal Group from a market perform rating to an outperform rating and set a $20.00 target price for the company in a report on Wednesday, November 1st. Finally, Boenning Scattergood raised Donegal Group from a neutral rating to an outperform rating and set a $19.00 target price for the company in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Donegal Group has an average rating of Hold and a consensus target price of $19.67.
Shares of Donegal Group (NASDAQ DGICA) opened at $16.40 on Tuesday. Donegal Group has a one year low of $14.51 and a one year high of $18.25. The stock has a market capitalization of $463.84, a P/E ratio of 28.77 and a beta of 0.36. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.16.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Wednesday, January 31st. Donegal Group’s dividend payout ratio (DPR) is presently 98.25%.
Large investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its holdings in shares of Donegal Group by 7.0% during the third quarter. Janney Montgomery Scott LLC now owns 105,992 shares of the insurance provider’s stock valued at $1,710,000 after purchasing an additional 6,900 shares during the last quarter. OLD Republic International Corp grew its holdings in shares of Donegal Group by 103.9% during the third quarter. OLD Republic International Corp now owns 477,100 shares of the insurance provider’s stock valued at $7,696,000 after purchasing an additional 243,100 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Donegal Group by 14.1% during the second quarter. Northern Trust Corp now owns 135,447 shares of the insurance provider’s stock valued at $2,154,000 after purchasing an additional 16,696 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Donegal Group by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,637,594 shares of the insurance provider’s stock valued at $26,038,000 after purchasing an additional 33,628 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Donegal Group by 22.7% during the third quarter. First Eagle Investment Management LLC now owns 62,200 shares of the insurance provider’s stock valued at $1,003,000 after purchasing an additional 11,497 shares during the last quarter. 31.12% of the stock is owned by institutional investors.
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About Donegal Group
Donegal Group Inc (DGI) is an insurance holding company whose insurance subsidiaries offer personal and commercial lines of property and casualty insurance. The Company offered its insurance business to various businesses and individuals in 21 Mid-Atlantic, Midwestern, New England and Southern states, as of December 31, 2016.
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