Keefe, Bruyette & Woods Lowers Donegal Group (NASDAQ:DGICA) Price Target to $19.50

Donegal Group (NASDAQ:DGICA) had its price target lowered by analysts at Keefe, Bruyette & Woods from $21.00 to $19.50 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 11.05% from the stock’s previous close.

DGICA has been the subject of a number of other reports. Zacks Research downgraded Donegal Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.50.

Donegal Group Stock Down 5.6%

Shares of NASDAQ DGICA opened at $17.56 on Friday. The stock has a market cap of $643.40 million, a P/E ratio of 7.26 and a beta of 0.04. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.06. Donegal Group has a 12-month low of $15.05 and a 12-month high of $21.12. The business’s fifty day simple moving average is $19.38 and its 200-day simple moving average is $19.09.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, February 19th. The insurance provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.02). Donegal Group had a return on equity of 14.28% and a net margin of 8.72%.The company had revenue of $240.14 million for the quarter, compared to analyst estimates of $241.10 million. As a group, equities analysts predict that Donegal Group will post 1.2 EPS for the current fiscal year.

Insider Activity at Donegal Group

In other Donegal Group news, Director Kevin Michael Sr Kraft, Sr. sold 4,500 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $20.02, for a total value of $90,090.00. Following the transaction, the director directly owned 13,436 shares in the company, valued at $268,988.72. This represents a 25.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kristi Spencer Altshuler sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $20.25, for a total transaction of $243,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 106,343 shares of company stock valued at $2,115,435 and sold 17,174 shares valued at $346,833. 6.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Donegal Group

Large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new position in shares of Donegal Group during the third quarter worth about $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of Donegal Group by 576.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 2,341 shares during the last quarter. Allworth Financial LP boosted its position in shares of Donegal Group by 477.2% in 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 period. Versant Capital Management Inc boosted its position in shares of Donegal Group by 79.1% in the 3rd quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock valued at $58,000 after purchasing an additional 1,329 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after buying an additional 2,975 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

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.