Donegal Group Inc. (NASDAQ:DGICA) – Investment analysts at Boenning Scattergood cut their Q2 2019 earnings per share (EPS) estimates for shares of Donegal Group in a report issued on Tuesday, April 30th, Zacks Investment Research reports. Boenning Scattergood analyst R. Farnam now expects that the insurance provider will post earnings of $0.05 per share for the quarter, down from their prior estimate of $0.06. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Donegal Group’s Q4 2019 earnings at $0.29 EPS, Q1 2020 earnings at $0.16 EPS, Q2 2020 earnings at $0.18 EPS and Q4 2020 earnings at $0.41 EPS.
A number of other equities research analysts have also recently issued reports on DGICA. ValuEngine cut Donegal Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. BidaskClub cut Donegal Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Finally, Zacks Investment Research cut Donegal Group from a “hold” rating to a “strong sell” rating in a research note on Friday, February 22nd.
Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Monday, April 29th. The insurance provider reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.23. The firm had revenue of $196.21 million during the quarter, compared to the consensus estimate of $194.80 million. Donegal Group had a net margin of 1.06% and a negative return on equity of 0.58%.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.145 dividend. The ex-dividend date was Tuesday, April 30th. This is a boost from Donegal Group’s previous quarterly dividend of $0.14. This represents a $0.58 annualized dividend and a yield of 3.91%. Donegal Group’s payout ratio is -58.00%.
In other Donegal Group news, Director Jack Lee Hess purchased 2,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of $13.92 per share, for a total transaction of $27,840.00. Following the completion of the transaction, the director now owns 24,473 shares in the company, valued at $340,664.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.79% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its stake in Donegal Group by 434.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,987 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 1,615 shares in the last quarter. Legal & General Group Plc grew its stake in Donegal Group by 110.1% during the 4th quarter. Legal & General Group Plc now owns 2,464 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 1,291 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Donegal Group by 1,342.8% during the 4th quarter. Great West Life Assurance Co. Can now owns 4,213 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 3,921 shares in the last quarter. Ramsey Quantitative Systems grew its stake in Donegal Group by 29.9% during the 4th quarter. Ramsey Quantitative Systems now owns 10,030 shares of the insurance provider’s stock valued at $137,000 after acquiring an additional 2,310 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in Donegal Group during the 4th quarter valued at about $174,000. 30.99% of the stock is currently owned by hedge funds and other institutional investors.
Donegal Group Company Profile
Donegal Group Inc, an insurance holding company, provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, Commercial Lines of Insurance, and Investment in DFSC.
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