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

Donegal Group (NASDAQ:DGICA - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Sunday.

Separately, Keefe, Bruyette & Woods raised their target price on 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 Donegal Group stock traded down $0.31 during midday trading on Friday, hitting $19.03. The company's stock had a trading volume of 170,635 shares, compared to its average volume of 98,462. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06. Donegal Group has a 1-year low of $12.65 and a 1-year high of $21.12. The stock has a 50-day simple moving average of $19.67 and a 200-day simple moving average of $17.70. The firm has a market capitalization of $686.98 million, a P/E ratio of 9.28 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.38. Donegal Group had a return on equity of 12.82% and a net margin of 7.06%. The business had revenue of $245.57 million during the quarter, compared to analyst estimates of $248.73 million. As a group, sell-side analysts expect that Donegal Group will post 1.2 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jeffrey Dean Miller sold 24,000 shares of Donegal Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $19.83, for a total transaction of $475,920.00. Following the sale, the chief financial officer directly owned 23,980 shares of the company's stock, valued at $475,523.40. This trade represents a 50.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin Gerard Burke sold 27,000 shares of Donegal Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $19.83, for a total value of $535,410.00. Following the sale, the insider directly owned 11,672 shares in the company, valued at approximately $231,455.76. This trade represents a 69.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,724 shares of company stock valued at $3,269,040 in the last ninety days. Company insiders own 3.48% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Jump Financial LLC raised its position in shares of Donegal Group by 3.1% during the 1st quarter. Jump Financial LLC now owns 17,952 shares of the insurance provider's stock valued at $352,000 after acquiring an additional 533 shares during the last quarter. Bank of America Corp DE raised its position in shares of Donegal Group by 3.0% during the 4th quarter. Bank of America Corp DE now owns 29,572 shares of the insurance provider's stock valued at $457,000 after acquiring an additional 871 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Donegal Group by 0.4% during the 4th quarter. Wells Fargo & Company MN now owns 223,593 shares of the insurance provider's stock valued at $3,459,000 after acquiring an additional 897 shares during the last quarter. Corton Capital Inc. raised its position in shares of Donegal Group by 7.4% during the 4th quarter. Corton Capital Inc. now owns 16,101 shares of the insurance provider's stock valued at $249,000 after acquiring an additional 1,108 shares during the last quarter. Finally, Martingale Asset Management L P increased its position in shares of Donegal Group by 4.2% in the 1st quarter. Martingale Asset Management L P now owns 28,509 shares of the insurance provider's stock valued at $560,000 after buying an additional 1,156 shares in the last quarter. 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.