Donegal Group (DGICA) Projected to Post Earnings on Thursday
by Renee Jackson · The Cerbat GemDonegal Group (NASDAQ:DGICA – Get Free Report) is expected to release its results before the market opens on Thursday, April 30th. Analysts expect Donegal Group to post earnings of $0.6030 per share and revenue of $252.3620 million for the quarter.
Donegal Group (NASDAQ:DGICA – Get Free Report) last issued its earnings results on Thursday, February 19th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). Donegal Group had a return on equity of 12.81% and a net margin of 8.11%.The company had revenue of $240.14 million during the quarter, compared to analyst estimates of $241.10 million. On average, analysts expect Donegal Group to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Donegal Group Trading Up 0.1%
DGICA stock opened at $17.74 on Tuesday. The business has a fifty day moving average price of $17.36 and a 200 day moving average price of $18.73. The stock has a market capitalization of $656.38 million, a price-to-earnings ratio of 8.10 and a beta of 0.05. Donegal Group has a fifty-two week low of $16.43 and a fifty-two week high of $21.12. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.
Donegal Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a dividend of $0.1925 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $0.77 annualized dividend and a yield of 4.3%. This is an increase from Donegal Group’s previous quarterly dividend of $0.18. Donegal Group’s dividend payout ratio (DPR) is presently 33.33%.
Insider Buying and Selling at Donegal Group
In related news, major shareholder Mutual Insurance Co Donegal purchased 9,000 shares of Donegal Group stock in a transaction that occurred on Tuesday, March 3rd. The stock was purchased at an average cost of $17.63 per share, with a total value of $158,670.00. Following the completion of the transaction, the insider owned 13,937,704 shares of the company’s stock, valued at approximately $245,721,721.52. This trade represents a 0.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Daniel Delamater sold 9,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $17.63, for a total value of $158,670.00. Following the completion of the sale, the executive vice president directly owned 2,012 shares of the company’s stock, valued at approximately $35,471.56. The trade was a 81.73% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.75% of the company’s stock.
Institutional Trading of Donegal Group
Large investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its position in shares of Donegal Group by 576.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock valued at $55,000 after buying an additional 2,341 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Donegal Group by 422.6% during the second 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 period. CANADA LIFE ASSURANCE Co increased its stake in shares of Donegal Group by 31.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after purchasing an additional 896 shares during the period. Tower Research Capital LLC TRC increased its position in Donegal Group by 443.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after acquiring an additional 4,022 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Donegal Group during the second quarter worth about $101,000. Institutional investors and hedge funds own 27.96% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on DGICA. Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods lowered their price target on Donegal Group from $19.50 to $19.00 and set a “market perform” rating for the company in a report on Tuesday, April 7th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.00.
Get Our Latest Analysis on Donegal Group
Donegal Group Company Profile
Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.
The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.