Donegal Group Inc. (NASDAQ:DGICA) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 37,800 shares, a decline of 8.5% from the January 15th total of 41,300 shares. Based on an average trading volume of 18,200 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.3% of the shares of the company are short sold.
Donegal Group stock traded down $0.01 on Friday, hitting $14.74. The company’s stock had a trading volume of 19,200 shares, compared to its average volume of 13,239. The firm has a market cap of $418.76 million, a P/E ratio of 23.03 and a beta of 0.29. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average price of $14.47 and a 200-day moving average price of $14.53. Donegal Group has a one year low of $12.42 and a one year high of $15.43.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be issued a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Friday, January 31st. Donegal Group’s dividend payout ratio (DPR) is presently -58.00%.
A number of equities analysts recently issued reports on the stock. TheStreet raised shares of Donegal Group from a “c” rating to a “b-” rating in a research report on Thursday, October 31st. Zacks Investment Research lowered shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 31st. Finally, BidaskClub lowered shares of Donegal Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Donegal Group presently has an average rating of “Hold” and an average target price of $17.00.
A number of institutional investors have recently made changes to their positions in DGICA. Citigroup Inc. grew its holdings in shares of Donegal Group by 70.9% in the 4th quarter. Citigroup Inc. now owns 2,249 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 933 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Donegal Group in the 4th quarter worth about $42,000. Smithfield Trust Co. bought a new stake in shares of Donegal Group in the 3rd quarter worth about $44,000. Paradigm Asset Management Co. LLC bought a new stake in shares of Donegal Group in the 4th quarter worth about $98,000. Finally, Barclays PLC grew its holdings in shares of Donegal Group by 96.0% in the 4th quarter. Barclays PLC now owns 10,523 shares of the insurance provider’s stock worth $156,000 after purchasing an additional 5,153 shares during the last quarter. 31.00% of the stock is currently owned by hedge funds and other institutional investors.
About Donegal Group
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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