Donegal Group (NASDAQ:DGICA) Stock Rating Lowered by Wall Street Zen

Key Points

• Donegal Group has been downgraded from a "strong-buy" to a "buy" rating by analysts at Wall Street Zen.
• Keefe, Bruyette & Woods increased their target price for Donegal Group from $17.00 to $18.00, maintaining a "market perform" rating.
• Insider trading activity shows Kevin Gerard Burke sold 27,000 shares while Mutual Insurance Co Donegal purchased 71,000 shares, reflecting varying sentiments among insiders.

Donegal Group (NASDAQ:DGICA - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Donegal Group from $17.00 to $18.00 and gave the company a "market perform" rating in a report on Friday, April 25th.

Donegal Group Stock Down 1.6%

Shares of NASDAQ:DGICA traded down $0.28 during trading on Friday, hitting $17.44. The company's stock had a trading volume of 192,550 shares, compared to its average volume of 145,312. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. The business has a 50 day moving average price of $19.13 and a two-hundred day moving average price of $18.05. The company has a market capitalization of $629.58 million, a PE ratio of 7.33 and a beta of 0.01. Donegal Group has a fifty-two week low of $13.35 and a fifty-two week high of $21.12.

Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its earnings results 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 business had revenue of $233.81 million during the quarter, compared to analysts' expectations of $247.21 million. Donegal Group had a net margin of 8.33% and a return on equity of 14.70%. As a group, research analysts expect that Donegal Group will post 1.2 EPS for the current fiscal year.

Insider Buying and Selling at Donegal Group

In other news, VP William Albert Folmar sold 18,000 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $20.67, for a total value of $372,060.00. Following the completion of the transaction, the vice president owned 950 shares in the company, valued at approximately $19,636.50. This represents a 94.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Vincent Anthony Viozzi sold 19,173 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $20.24, for a total transaction of $388,061.52. Following the sale, the vice president owned 8,143 shares of the company's stock, valued at $164,814.32. This trade represents a 70.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,536 shares of company stock valued at $3,265,365 over the last three months. 3.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its stake in Donegal Group by 24.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,875 shares of the insurance provider's stock valued at $272,000 after buying an additional 2,695 shares in the last quarter. GAMMA Investing LLC lifted its position in Donegal Group by 4,607.4% during the first quarter. GAMMA Investing LLC now owns 14,075 shares of the insurance provider's stock worth $276,000 after purchasing an additional 13,776 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Donegal Group by 87.6% in the fourth quarter. Two Sigma Investments LP now owns 89,437 shares of the insurance provider's stock worth $1,384,000 after acquiring an additional 41,763 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Donegal Group by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,492 shares of the insurance provider's stock valued at $688,000 after buying an additional 1,773 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Donegal Group during the 4th quarter worth approximately $704,000. Institutional investors own 27.96% of the company's stock.

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.