Boenning Scattergood upgraded shares of Donegal Group, Inc. (NASDAQ:DGICA) from a neutral rating to an outperform rating in a report published on Tuesday morning, MarketBeat Ratings reports. They currently have $19.00 target price on the insurance provider’s stock. Boenning Scattergood also issued estimates for Donegal Group’s Q4 2017 earnings at $0.39 EPS, FY2017 earnings at $0.65 EPS, Q1 2018 earnings at $0.33 EPS, Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.41 EPS, FY2018 earnings at $1.25 EPS, Q1 2019 earnings at $0.38 EPS, Q2 2019 earnings at $0.30 EPS, Q3 2019 earnings at $0.30 EPS and FY2019 earnings at $1.45 EPS.

A number of other analysts also recently commented on the company. BidaskClub downgraded Donegal Group from a sell rating to a strong sell rating in a research report on Wednesday, July 19th. Zacks Investment Research downgraded Donegal Group from a hold rating to a strong sell rating in a research report on Tuesday, July 25th. TheStreet upgraded Donegal Group from a c+ rating to a b- rating in a research report on Friday, October 20th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $19.00 target price on shares of Donegal Group in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $19.67.

Donegal Group (NASDAQ:DGICA) remained flat at $$17.29 during trading on Tuesday. 113,766 shares of the company traded hands, compared to its average volume of 23,319. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.44 and a quick ratio of 0.44. Donegal Group has a 1-year low of $14.49 and a 1-year high of $18.55. The stock has a market capitalization of $463.87, a PE ratio of 37.59 and a beta of 0.28.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Monday, October 30th. The insurance provider reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.04. The company had revenue of $185.72 million for the quarter, compared to the consensus estimate of $187.60 million. Donegal Group had a return on equity of 2.82% and a net margin of 2.13%. research analysts predict that Donegal Group will post 0.65 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, October 31st. This represents a $0.56 dividend on an annualized basis and a yield of 3.24%. Donegal Group’s payout ratio is 101.82%.

In related news, Director Jack Lee Hess acquired 2,000 shares of Donegal Group stock in a transaction dated Thursday, November 2nd. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $33,560.00. Following the completion of the transaction, the director now directly owns 4,489 shares of the company’s stock, valued at $75,325.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 11.90% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of DGICA. Russell Investments Group Ltd. lifted its position in shares of Donegal Group by 45.8% in the second quarter. Russell Investments Group Ltd. now owns 7,636 shares of the insurance provider’s stock valued at $121,000 after acquiring an additional 2,400 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Donegal Group by 0.4% in the second quarter. Rhumbline Advisers now owns 11,052 shares of the insurance provider’s stock valued at $176,000 after acquiring an additional 40 shares in the last quarter. Hancock Holding Co. lifted its position in shares of Donegal Group by 4.4% in the second quarter. Hancock Holding Co. now owns 11,470 shares of the insurance provider’s stock valued at $182,000 after acquiring an additional 480 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Donegal Group by 78.7% in the second quarter. The Manufacturers Life Insurance Company now owns 11,817 shares of the insurance provider’s stock valued at $189,000 after acquiring an additional 5,203 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Donegal Group by 15.6% in the first quarter. Swiss National Bank now owns 15,600 shares of the insurance provider’s stock valued at $275,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 29.48% of the company’s stock.

About Donegal Group

Donegal Group Inc (DGI) is an insurance holding company whose insurance subsidiaries offer personal and commercial lines of property and casualty insurance. The Company offered its insurance business to various businesses and individuals in 21 Mid-Atlantic, Midwestern, New England and Southern states, as of December 31, 2016.

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