Donegal Group (NASDAQ:DGICA) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Donegal Group (NASDAQ:DGICA) posted its quarterly earnings data on Thursday. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06, FiscalAI reports. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. The firm had revenue of $237.66 million for the quarter, compared to the consensus estimate of $214.12 million.

Donegal Group Stock Performance

Donegal Group stock traded up $0.20 during midday trading on Thursday, hitting $18.83. 154,167 shares of the company’s stock were exchanged, compared to its average volume of 123,657. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market cap of $698.97 million, a price-to-earnings ratio of 9.76 and a beta of -0.03. Donegal Group has a 12-month low of $16.11 and a 12-month high of $21.06. The firm’s 50 day simple moving average is $18.70 and its 200 day simple moving average is $18.16.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be paid a dividend of $0.1925 per share. The ex-dividend date is Monday, November 2nd. This represents a $0.77 dividend on an annualized basis and a yield of 4.1%. Donegal Group’s dividend payout ratio is currently 39.90%.

Insider Activity at Donegal Group

In other news, 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 value of $403,830.00. Following the completion of the sale, the chief financial officer owned 27,176 shares of the company’s stock, valued at $522,594.48. This represents a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin Burke sold 24,000 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $19.23, for a total value of $461,520.00. Following the completion of the transaction, the insider directly owned 13,870 shares in the company, valued at $266,720.10. This trade represents a 63.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders acquired 220,437 shares of company stock valued at $4,218,669 and sold 111,108 shares valued at $2,153,119. Insiders own 2.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of Donegal Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. Keefe, Bruyette & Woods increased their target price on Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Donegal Group has a consensus rating of “Hold” and a consensus price target of $20.00.

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.