Donegal Group (DGICA) Hits New 52-Week Low at $13.02

Donegal Group Inc. (NASDAQ:DGICA) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $13.02 and last traded at $13.37, with a volume of 37 shares. The stock had previously closed at $13.43.

Several research analysts recently commented on DGICA shares. BidaskClub raised shares of Donegal Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 27th. Zacks Investment Research cut shares of Donegal Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 25th. Boenning Scattergood reiterated a “hold” rating on shares of Donegal Group in a report on Wednesday. Finally, ValuEngine upgraded shares of Donegal Group from a “hold” rating to a “buy” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Donegal Group has an average rating of “Hold” and an average target price of $18.00.

The firm has a market cap of $379.95 million, a price-to-earnings ratio of 45.33 and a beta of 0.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.43 and a current ratio of 0.43.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Tuesday, October 30th. The insurance provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.14). The company had revenue of $196.44 million during the quarter, compared to the consensus estimate of $195.80 million. Donegal Group had a negative net margin of 2.65% and a negative return on equity of 4.16%. Equities analysts expect that Donegal Group Inc. will post -0.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be issued a $0.1425 dividend. This represents a $0.57 annualized dividend and a yield of 4.19%. The ex-dividend date is Wednesday, October 31st. Donegal Group’s dividend payout ratio (DPR) is currently 190.00%.

In related news, Director Patricia A. Gilmartin sold 8,229 shares of Donegal Group stock in a transaction on Monday, August 27th. The shares were sold at an average price of $14.65, for a total value of $120,554.85. Following the sale, the director now owns 500 shares in the company, valued at $7,325. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.13% of the company’s stock.

Several hedge funds have recently made changes to their positions in DGICA. OLD Republic International Corp boosted its holdings in shares of Donegal Group by 29.1% during the 2nd quarter. OLD Republic International Corp now owns 616,100 shares of the insurance provider’s stock valued at $8,385,000 after buying an additional 139,000 shares in the last quarter. Deprince Race & Zollo Inc. boosted its holdings in shares of Donegal Group by 36.4% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 395,875 shares of the insurance provider’s stock valued at $5,625,000 after buying an additional 105,703 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Donegal Group by 104.8% during the 1st quarter. Allianz Asset Management GmbH now owns 150,687 shares of the insurance provider’s stock valued at $2,381,000 after buying an additional 77,097 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Donegal Group by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,794,145 shares of the insurance provider’s stock valued at $24,418,000 after buying an additional 51,117 shares in the last quarter. Finally, Philadelphia Trust Co. boosted its holdings in shares of Donegal Group by 6.0% during the 2nd quarter. Philadelphia Trust Co. now owns 673,432 shares of the insurance provider’s stock valued at $9,165,000 after buying an additional 38,064 shares in the last quarter. Hedge funds and other institutional investors own 31.26% of the company’s stock.

About Donegal Group (NASDAQ:DGICA)

Donegal Group Inc, an insurance holding company, provides 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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