Donegal Group (NASDAQ:DGICA) Stock Rating Lowered by StockNews.com

Donegal Group (NASDAQ:DGICA) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

Donegal Group Stock Performance

Donegal Group stock opened at $14.40 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.39. The company’s 50-day moving average is $14.75 and its 200 day moving average is $13.85. Donegal Group has a 1-year low of $12.26 and a 1-year high of $15.45. The firm has a market capitalization of $480.86 million, a P/E ratio of 90.00 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.04. Donegal Group had a net margin of 0.76% and a return on equity of 0.89%. The firm had revenue of $246.77 million for the quarter, compared to the consensus estimate of $243.00 million. Research analysts forecast that Donegal Group will post 0.45 EPS for the current year.

Insider Transactions at Donegal Group

In related news, major shareholder Mutual Insurance Co Donegal purchased 3,848 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $14.13 per share, with a total value of $54,372.24. Following the completion of the acquisition, the insider now directly owns 12,143,459 shares in the company, valued at $171,587,075.67. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Vincent Anthony Viozzi sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $15.24, for a total value of $457,200.00. Following the transaction, the vice president now owns 9,891 shares in the company, valued at $150,738.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Mutual Insurance Co Donegal acquired 3,848 shares of the stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of $14.13 per share, with a total value of $54,372.24. Following the transaction, the insider now directly owns 12,143,459 shares of the company’s stock, valued at $171,587,075.67. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 139,437 shares of company stock worth $2,062,143. 6.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Donegal Group

Institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC bought a new stake in shares of Donegal Group in the 1st quarter valued at approximately $293,000. BNP Paribas Financial Markets raised its holdings in Donegal Group by 125.0% in the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock valued at $147,000 after acquiring an additional 5,757 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Donegal Group by 8.2% in the 1st quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock worth $1,573,000 after acquiring an additional 8,400 shares during the period. Vanguard Group Inc. grew its holdings in shares of Donegal Group by 34.7% during the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after purchasing an additional 304,477 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Donegal Group during the first quarter valued at approximately $137,000. Institutional investors and hedge funds 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.