Donegal Group (NASDAQ:DGICA) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Donegal Group, Inc. (NASDAQ:DGICA) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.86 and traded as high as $19.44. Donegal Group shares last traded at $19.21, with a volume of 164,092 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DGICA. Zacks Research upgraded Donegal Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Janney Montgomery Scott upgraded Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. Wall Street Zen downgraded Donegal Group from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $18.00.

Donegal Group Stock Down 1.0%

The business’s 50 day simple moving average is $18.63 and its 200-day simple moving average is $18.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $701.36 million and a price-to-earnings ratio of 8.07.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.07. The firm had revenue of $233.81 million for the quarter, compared to analyst estimates of $247.21 million. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. Sell-side analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Mutual Insurance Co Donegal bought 20,000 shares of the business’s stock in a transaction on Friday, August 29th. The stock was purchased at an average price of $17.84 per share, with a total value of $356,800.00. Following the transaction, the insider directly owned 13,500,977 shares in the company, valued at approximately $240,857,429.68. The trade was a 0.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders have acquired 212,958 shares of company stock valued at $3,965,746. Company insiders own 6.63% of the company’s stock.

Institutional Trading of Donegal Group

Several hedge funds have recently added to or reduced their stakes in DGICA. Allworth Financial LP raised its stake in Donegal Group by 477.2% during the 2nd quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 2,448 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Donegal Group by 422.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 2,975 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings 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 worth $99,000 after purchasing an additional 4,022 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Donegal Group during the second quarter valued at about $101,000. Finally, CWM LLC raised its position in shares of Donegal Group by 78.0% during the first quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock valued at $101,000 after buying an additional 2,263 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.