Wedbush Securities Inc. maintained its position in Donegal Group, Inc. (NASDAQ:DGICA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,862 shares of the insurance provider’s stock at the end of the second quarter. Wedbush Securities Inc.’s holdings in Donegal Group were worth $538,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rhumbline Advisers increased its stake 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 worth $176,000 after buying an additional 40 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Donegal Group by 0.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 40,211 shares of the insurance provider’s stock worth $640,000 after buying an additional 323 shares during the period. FormulaFolio Investments LLC increased its stake in shares of Donegal Group by 1.6% in the first quarter. FormulaFolio Investments LLC now owns 22,786 shares of the insurance provider’s stock worth $401,000 after buying an additional 354 shares during the period. Teachers Advisors LLC increased its stake in shares of Donegal Group by 12.6% in the fourth quarter. Teachers Advisors LLC now owns 13,833 shares of the insurance provider’s stock worth $242,000 after buying an additional 1,549 shares during the period. Finally, Swiss National Bank increased its stake 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 worth $275,000 after buying an additional 2,100 shares during the period. 28.58% of the stock is owned by hedge funds and other institutional investors.

Shares of Donegal Group, Inc. (NASDAQ DGICA) opened at 15.39 on Wednesday. Donegal Group, Inc. has a 52 week low of $14.49 and a 52 week high of $18.55. The firm has a 50 day moving average price of $15.31 and a 200-day moving average price of $16.23. The firm has a market capitalization of $420.49 million, a P/E ratio of 32.61 and a beta of 0.31.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Wednesday, July 19th. The insurance provider reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.04. The firm had revenue of $182.48 million for the quarter, compared to analysts’ expectations of $185.20 million. Donegal Group had a return on equity of 2.24% and a net margin of 1.84%. Equities research analysts predict that Donegal Group, Inc. will post $0.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.56 annualized dividend and a dividend yield of 3.64%. Donegal Group’s dividend payout ratio is currently 114.29%.

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A number of analysts have issued reports on the company. BidaskClub downgraded Donegal Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.00 target price on shares of Donegal Group in a research note on Friday, July 14th. TheStreet downgraded Donegal Group from a “b-” rating to a “c+” rating in a research note on Wednesday, August 9th. Boenning Scattergood assumed coverage on Donegal Group in a research note on Thursday, May 25th. They issued a “neutral” rating for the company. Finally, Zacks Investment Research downgraded Donegal Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $19.00.

Donegal Group Company Profile

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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Institutional Ownership by Quarter for Donegal Group (NASDAQ:DGICA)

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