Donegal Group (NASDAQ:DGICA) Price Target Raised to $17.00

Donegal Group (NASDAQ:DGICA) had its price target hoisted by Keefe, Bruyette & Woods from $16.00 to $17.00 in a report released on Wednesday morning, Marketbeat Ratings reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

Donegal Group Stock Down 1.3 %

Shares of DGICA opened at $17.98 on Wednesday. The business’s 50 day simple moving average is $17.43 and its 200-day simple moving average is $16.05. Donegal Group has a one year low of $12.26 and a one year high of $19.87. The company has a market capitalization of $640.79 million, a P/E ratio of 11.83 and a beta of -0.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.39. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. The company had revenue of $249.70 million for the quarter, compared to analyst estimates of $250.61 million. As a group, sell-side analysts predict that Donegal Group will post 1.2 EPS for the current fiscal year.

Insider Buying and Selling at Donegal Group

In other news, major shareholder Mutual Insurance Co Donegal purchased 15,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $17.85 per share, with a total value of $267,750.00. Following the completion of the purchase, the insider now directly owns 13,219,273 shares of the company’s stock, valued at $235,964,023.05. The trade was a 0.11 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Daniel Delamater sold 12,000 shares of Donegal Group stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $17.77, for a total value of $213,240.00. Following the completion of the sale, the executive vice president now owns 1,495 shares of the company’s stock, valued at approximately $26,566.15. The trade was a 88.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 105,908 shares of company stock worth $1,865,086 and sold 47,119 shares worth $845,651. Corporate insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Donegal Group by 124.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider’s stock worth $3,647,000 after buying an additional 130,489 shares during the period. Renaissance Technologies LLC raised its position in shares of Donegal Group by 29.5% in the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock valued at $6,638,000 after acquiring an additional 97,795 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Donegal Group by 351.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider’s stock worth $1,670,000 after acquiring an additional 84,029 shares during the last quarter. Millennium Management LLC grew its holdings in Donegal Group by 170.8% during the fourth quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider’s stock valued at $1,598,000 after purchasing an additional 65,146 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in Donegal Group by 137.8% during the fourth quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider’s stock valued at $1,615,000 after purchasing an additional 60,491 shares during the period. 27.96% of the stock is owned by institutional investors and hedge funds.

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.