Donegal Group (DGICA) Expected to Release Earnings on Thursday

Key Points

• Donegal Group is expected to report quarterly earnings before the market opens on Thursday, July 30, with analysts looking for $0.46 per share in earnings on $231.5 million in revenue.
• The company’s most recent quarter missed expectations, posting $0.32 EPS versus the $0.40 consensus and revenue of $236.0 million versus the expected $247.83 million.
• Donegal Group also announced a quarterly dividend of $0.1925 per share, implying an annualized yield of about 4.2%; analysts currently rate the stock a Hold with an average target price of $20.

Donegal Group (NASDAQ:DGICA - Get Free Report) is anticipated to post its results before the market opens on Thursday, July 30th. Analysts expect the company to announce earnings of $0.46 per share and revenue of $231.5280 million for the quarter.

Donegal Group (NASDAQ:DGICA - Get Free Report) last released its earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.08). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The company had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million. On average, analysts expect Donegal Group to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Donegal Group Stock Down 2.2%

Shares of NASDAQ DGICA opened at $18.17 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. Donegal Group has a 52 week low of $16.11 and a 52 week high of $21.06. The stock has a market capitalization of $673.20 million and a P/E ratio of 10.15. The stock's fifty day moving average is $17.91 and its 200 day moving average is $17.91.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.1925 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.77 annualized dividend and a yield of 4.2%. Donegal Group's dividend payout ratio is currently 43.02%.

Insiders Place Their Bets

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal bought 9,682 shares of the firm's stock in a transaction on Friday, June 12th. The shares were purchased at an average price of $17.62 per share, for a total transaction of $170,596.84. Following the completion of the transaction, the insider directly owned 14,136,691 shares in the company, valued at approximately $249,088,495.42. The trade was a 0.07% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders bought 139,487 shares of company stock valued at $2,392,488 over the last quarter. Company insiders own 2.75% of the company's stock.

Institutional Investors Weigh In On Donegal Group

A number of hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its position in Donegal Group by 576.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider's stock worth $55,000 after purchasing an additional 2,341 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Donegal Group by 422.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider's stock valued at $74,000 after buying an additional 2,975 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Donegal Group by 31.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider's stock worth $75,000 after buying an additional 896 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Donegal Group by 443.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider's stock worth $99,000 after buying an additional 4,022 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Donegal Group during the second quarter worth $101,000. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Donegal Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods increased their price target on shares of Donegal Group from $18.00 to $20.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $20.00.

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.

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