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

Donegal Group (NASDAQ:DGICA) is anticipated to issue its results before the market opens on Thursday, October 29th. Analysts expect Donegal Group to announce earnings of $0.43 per share and revenue of $214.12 million for the quarter.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.42 by $0.11. The business had revenue of $241.12 million for the quarter, compared to analysts’ expectations of $231.53 million. On average, analysts expect Donegal Group to post $1.75 EPS for the current fiscal year and $1.85 EPS for the next fiscal year.

Donegal Group Stock Performance

Shares of DGICA opened at $18.84 on Wednesday. Donegal Group has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The firm has a 50 day moving average price of $18.70 and a 200-day moving average price of $18.17.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a dividend of $0.1925 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.77 annualized dividend and a dividend yield of 4.1%.

Wall Street Analyst Weigh In

Several analysts have weighed in on DGICA shares. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Keefe, Bruyette & Woods upped their price target on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Finally, Zacks Research raised Donegal Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.00.

Insider Buying and Selling

In related news, SVP Noland Deas, Jr. sold 24,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $19.47, for a total transaction of $467,280.00. Following the completion of the sale, the senior vice president directly owned 3,523 shares in the company, valued at $68,592.81. This represents a 87.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jeffrey Miller sold 21,000 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $19.23, for a total transaction of $403,830.00. Following the sale, the chief financial officer directly owned 27,176 shares of the company’s stock, valued at $522,594.48. The trade was a 43.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders bought 220,437 shares of company stock valued at $4,218,669 and sold 111,108 shares valued at $2,153,119. Corporate insiders own 2.75% of the company’s stock.

Donegal Group Company Profile

Donegal Group Inc (NASDAQ: DGICA) is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.

Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers’ compensation coverage, along with other specialized property and casualty policies.

Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.