Donegal Group (NASDAQ:DGICA) Releases Earnings Results, Beats Estimates By $0.06 EPS

Donegal Group (NASDAQ:DGICA) issued its earnings results on Thursday. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06, FiscalAI reports. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. The company had revenue of $237.66 million for the quarter, compared to analysts’ expectations of $214.12 million.

Donegal Group Stock Down 0.1%

DGICA stock traded down $0.01 during trading on Thursday, reaching $18.61. The stock had a trading volume of 29,719 shares, compared to its average volume of 123,442. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $690.99 million, a price-to-earnings ratio of 9.58 and a beta of -0.03. Donegal Group has a one year low of $16.11 and a one year high of $21.06. The company’s 50 day moving average is $18.70 and its two-hundred day moving average is $18.16.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be given a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, November 2nd. Donegal Group’s dividend payout ratio is presently 39.90%.

Analyst Upgrades and Downgrades

DGICA has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Zacks Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Donegal Group currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Insider Activity

In related news, VP Christina Hoffman sold 18,000 shares of Donegal Group stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $19.67, for a total transaction of $354,060.00. Following the sale, the vice president directly owned 4,655 shares in the company, valued at approximately $91,563.85. This trade represents a 79.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Mutual Insurance Co Donegal acquired 54,725 shares of the business’s stock in a transaction on Friday, September 11th. The stock was acquired at an average cost of $19.23 per share, for a total transaction of $1,052,361.75. Following the transaction, the insider owned 14,387,128 shares of the company’s stock, valued at approximately $276,664,471.44. The trade was a 0.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 220,437 shares of company stock worth $4,218,669 and have sold 111,108 shares worth $2,153,119. 2.75% of the stock is owned by corporate insiders.

Donegal Group Company Profile

Donegal Group Inc (NASDAQ: DGICA) is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.

Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers’ compensation coverage, along with other specialized property and casualty policies.

Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.