BidaskClub lowered shares of Donegal Group (NASDAQ:DGICA) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Several other analysts also recently issued reports on DGICA. Keefe, Bruyette & Woods set a $18.00 price target on shares of Donegal Group and gave the company a hold rating in a report on Thursday, August 17th. Zacks Investment Research raised shares of Donegal Group from a strong sell rating to a hold rating in a report on Tuesday, September 19th. TheStreet raised shares of Donegal Group from a c+ rating to a b- rating in a report on Friday, October 20th. Finally, Boenning Scattergood raised shares of Donegal Group from a neutral rating to an outperform rating and set a $19.00 price target on the stock in a report on Tuesday, October 31st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Donegal Group currently has a consensus rating of Buy and a consensus target price of $19.67.

Shares of Donegal Group (NASDAQ:DGICA) traded down $0.05 on Tuesday, reaching $17.17. 27,100 shares of the company’s stock traded hands, compared to its average volume of 31,317. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.16. Donegal Group has a one year low of $14.51 and a one year high of $18.55. The firm has a market capitalization of $472.35, a price-to-earnings ratio of 37.44 and a beta of 0.30.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Monday, October 30th. The insurance provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. Donegal Group had a net margin of 2.13% and a return on equity of 2.81%. The company had revenue of $185.72 million for the quarter, compared to analyst estimates of $187.60 million. sell-side analysts predict that Donegal Group will post 0.65 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Tuesday, October 31st. Donegal Group’s dividend payout ratio is currently 98.25%.

In other Donegal Group news, Director Patricia A. Gilmartin sold 5,333 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $17.17, for a total transaction of $91,567.61. Following the transaction, the director now owns 13,562 shares of the company’s stock, valued at $232,859.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jack Lee Hess purchased 2,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were bought at an average cost of $16.78 per share, for a total transaction of $33,560.00. Following the purchase, the director now owns 4,489 shares of the company’s stock, valued at $75,325.42. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 4,000 shares of company stock worth $68,040. 11.90% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. OLD Republic International Corp increased its position in shares of Donegal Group by 103.9% in the third quarter. OLD Republic International Corp now owns 477,100 shares of the insurance provider’s stock worth $7,696,000 after acquiring an additional 243,100 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Donegal Group by 5.9% in the second quarter. Wells Fargo & Company MN now owns 403,419 shares of the insurance provider’s stock worth $6,414,000 after acquiring an additional 22,511 shares in the last quarter. Kennedy Capital Management Inc. increased its position in shares of Donegal Group by 31.6% in the second quarter. Kennedy Capital Management Inc. now owns 579,157 shares of the insurance provider’s stock worth $9,209,000 after acquiring an additional 139,027 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Donegal Group by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,637,594 shares of the insurance provider’s stock worth $26,038,000 after acquiring an additional 33,628 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Donegal Group by 14.1% during the 2nd quarter. Northern Trust Corp now owns 135,447 shares of the insurance provider’s stock valued at $2,154,000 after purchasing an additional 16,696 shares in the last quarter. 29.27% of the stock is owned by institutional investors.

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About Donegal Group

Donegal Group Inc (DGI) is an insurance holding company whose insurance subsidiaries offer personal and commercial lines of property and casualty insurance. The Company offered its insurance business to various businesses and individuals in 21 Mid-Atlantic, Midwestern, New England and Southern states, as of December 31, 2016.

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