Donegal Group (DGICA) Projected to Post Quarterly Earnings on Thursday

Key Points

• Donegal Group is projected to announce its quarterly earnings on October 30th, expected to report earnings of $0.37 per share and revenue of $244.19 million.
• The company recently declared a quarterly dividend of $0.1825, with a dividend yield of 3.8%, set to be paid on November 17th.
• Significant institutional buying was noted, with EverSource Wealth Advisors increasing its stake in Donegal Group by 422.6% during the second quarter.

Donegal Group (NASDAQ:DGICA - Get Free Report) is projected to post its results before the market opens on Thursday, October 30th. Analysts expect Donegal Group to post earnings of $0.37 per share and revenue of $244.1880 million for the quarter.

Donegal Group (NASDAQ:DGICA - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.07. The company had revenue of $233.81 million during the quarter, compared to analyst estimates of $247.21 million. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. On average, analysts expect Donegal Group to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Donegal Group Stock Up 0.2%

DGICA stock opened at $19.34 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06. The company's 50 day moving average is $18.79 and its 200 day moving average is $18.85. The stock has a market cap of $706.10 million and a price-to-earnings ratio of 8.13. Donegal Group has a 1-year low of $14.17 and a 1-year high of $21.12.

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be given a $0.1825 dividend. This represents a $0.73 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, November 3rd. Donegal Group's dividend payout ratio is 30.67%.

Insider Buying and Selling

In related news, major shareholder Mutual Insurance Co Donegal acquired 20,000 shares of the company's stock in a transaction dated Friday, August 29th. The stock was purchased at an average price of $17.84 per share, with a total value of $356,800.00. Following the completion of the purchase, the insider owned 13,500,977 shares in the company, valued at $240,857,429.68. This trade represents a 0.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 212,958 shares of company stock worth $3,965,746 in the last quarter. 6.63% of the stock is owned by company insiders.

Institutional Trading of Donegal Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its stake 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 worth $74,000 after acquiring an additional 2,975 shares during the period. Tower Research Capital LLC TRC lifted its stake in Donegal Group by 443.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider's stock worth $99,000 after acquiring an additional 4,022 shares during the period. Raymond James Financial Inc. purchased a new stake in Donegal Group in the second quarter worth $101,000. Osaic Holdings Inc. lifted its stake in Donegal Group by 444.7% in the second quarter. Osaic Holdings Inc. now owns 7,195 shares of the insurance provider's stock worth $144,000 after acquiring an additional 5,874 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Donegal Group by 23.9% in the second quarter. BNP Paribas Financial Markets now owns 9,073 shares of the insurance provider's stock worth $182,000 after acquiring an additional 1,748 shares during the period. Hedge funds and other institutional investors own 27.96% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on DGICA. Wall Street Zen cut shares of Donegal Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Zacks Research upgraded shares of Donegal Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Janney Montgomery Scott upgraded shares of Donegal Group from a "neutral" rating to a "buy" rating in a research report on Tuesday, September 2nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Donegal Group in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $18.00.

Donegal Group Company Profile

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.

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