Donegal Group (NASDAQ:DGICA) Rating Increased to Buy at StockNews.com

Donegal Group (NASDAQ:DGICA) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Donegal Group Stock Performance

NASDAQ DGICA opened at $13.45 on Friday. The company has a market cap of $449.10 million, a P/E ratio of 84.06 and a beta of -0.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.40 and a current ratio of 0.40. The business’s 50 day moving average price is $13.84 and its 200-day moving average price is $14.15. Donegal Group has a fifty-two week low of $13.10 and a fifty-two week high of $15.76.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, February 22nd. The insurance provider reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.34). The company had revenue of $239.47 million for the quarter, compared to the consensus estimate of $234.10 million. Donegal Group had a net margin of 0.55% and a return on equity of 0.15%. During the same period in the prior year, the firm posted $0.09 EPS. Sell-side analysts predict that Donegal Group will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On Donegal Group

Several hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Donegal Group in the 1st quarter worth $293,000. Dimensional Fund Advisors LP lifted its stake in shares of Donegal Group by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,825,664 shares of the insurance provider’s stock worth $25,541,000 after purchasing an additional 53,632 shares during the last quarter. CWM LLC lifted its stake in shares of Donegal Group by 170.9% during the 4th quarter. CWM LLC now owns 1,796 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 1,133 shares during the last quarter. Lewis Asset Management LLC purchased a new stake in shares of Donegal Group during the 4th quarter worth $194,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Donegal Group during the 4th quarter worth $124,000. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.