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

Donegal Group (NASDAQ:DGICA) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Donegal Group Stock Down 2.9 %

Donegal Group stock traded down $0.40 during mid-day trading on Friday, reaching $13.45. 44,912 shares of the company’s stock were exchanged, compared to its average volume of 56,946. The company has a market cap of $449.10 million, a P/E ratio of 96.07 and a beta of -0.07. Donegal Group has a twelve month low of $13.10 and a twelve month high of $15.76. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $13.84 and a 200-day moving average of $14.15.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, February 22nd. The insurance provider reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.34). The business had revenue of $239.47 million for the quarter, compared to analyst estimates of $234.10 million. Donegal Group had a return on equity of 0.40% and a net margin of 0.48%. During the same quarter last year, the company earned $0.09 earnings per share. Sell-side analysts expect that Donegal Group will post 0.55 EPS for the current year.

Institutional Investors Weigh In On Donegal Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Donegal Group by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,825,664 shares of the insurance provider’s stock valued at $25,541,000 after purchasing an additional 53,632 shares in the last quarter. Brandywine Global Investment Management LLC raised its holdings in shares of Donegal Group by 16.4% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 81,469 shares of the insurance provider’s stock valued at $1,161,000 after purchasing an additional 11,473 shares in the last quarter. Mariner LLC raised its holdings in shares of Donegal Group by 62.6% in the 3rd quarter. Mariner LLC now owns 53,238 shares of the insurance provider’s stock valued at $759,000 after purchasing an additional 20,499 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Donegal Group by 3.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 42,604 shares of the insurance provider’s stock valued at $607,000 after purchasing an additional 1,387 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Donegal Group by 3.7% in the 3rd quarter. Swiss National Bank now owns 36,100 shares of the insurance provider’s stock valued at $515,000 after purchasing an additional 1,300 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Donegal Group Company Profile

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.