Donegal Group Inc. (NASDAQ:DGICA) Short Interest Up 10.1% in March

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 189,400 shares, a growth of 10.1% from the February 29th total of 172,100 shares. Based on an average trading volume of 59,500 shares, the short-interest ratio is presently 3.2 days. Currently, 1.2% of the shares of the stock are short sold.

Donegal Group Stock Down 1.2 %

DGICA traded down $0.16 during midday trading on Tuesday, reaching $13.72. 46,539 shares of the company were exchanged, compared to its average volume of 60,294. 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 company's fifty day moving average price is $14.23 and its 200 day moving average price is $14.27. The company has a market cap of $458.11 million, a price-to-earnings ratio of 98.00 and a beta of -0.07. Donegal Group has a one year low of $13.10 and a one year high of $15.76.

Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its earnings results on Thursday, February 22nd. The insurance provider reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.34). Donegal Group had a return on equity of 0.40% and a net margin of 0.48%. The business had revenue of $239.47 million during the quarter, compared to analysts' expectations of $234.10 million. During the same quarter in the previous year, the firm earned $0.09 EPS. As a group, analysts expect that Donegal Group will post 0.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com cut Donegal Group from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. Janney Montgomery Scott began coverage on Donegal Group in a research report on Wednesday, December 20th. They set a "neutral" rating and a $15.00 target price for the company.

Hedge Funds Weigh In On Donegal Group

Institutional investors have recently bought and sold shares of the company. CWM LLC lifted its stake in Donegal Group by 170.9% in the fourth quarter. CWM LLC now owns 1,796 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 1,133 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Donegal Group by 58.1% in the first quarter. Great West Life Assurance Co. Can now owns 1,924 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 707 shares during the last quarter. FMR LLC lifted its stake in Donegal Group by 15,473.7% in the second quarter. FMR LLC now owns 2,959 shares of the insurance provider's stock valued at $50,000 after purchasing an additional 2,940 shares during the last quarter. Ensign Peak Advisors Inc bought a new stake in Donegal Group during the 3rd quarter valued at $44,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Donegal Group by 29.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,325 shares of the insurance provider's stock valued at $47,000 after acquiring an additional 757 shares during the period. Hedge funds and other institutional investors own 27.96% of the company's stock.

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.

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