Donegal Group Inc. (NASDAQ:DGICA) Short Interest Up 20.6% in September

Donegal Group Inc. (NASDAQ:DGICA) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 91,400 shares, an increase of 20.6% from the August 30th total of 75,800 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 20,700 shares, the days-to-cover ratio is currently 4.4 days.

A number of institutional investors have recently modified their holdings of DGICA. Russell Investments Group Ltd. boosted its holdings in shares of Donegal Group by 36.1% in the second quarter. Russell Investments Group Ltd. now owns 3,812 shares of the insurance provider’s stock valued at $58,000 after acquiring an additional 1,012 shares in the last quarter. Atwater Malick LLC boosted its holdings in shares of Donegal Group by 7.1% in the second quarter. Atwater Malick LLC now owns 16,064 shares of the insurance provider’s stock valued at $245,000 after acquiring an additional 1,064 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Donegal Group by 434.1% in the first quarter. BNP Paribas Arbitrage SA now owns 1,987 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 1,615 shares in the last quarter. Carroll Financial Associates Inc. boosted its holdings in shares of Donegal Group by 195.0% in the second quarter. Carroll Financial Associates Inc. now owns 5,330 shares of the insurance provider’s stock valued at $81,000 after acquiring an additional 3,523 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Donegal Group by 5.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 68,669 shares of the insurance provider’s stock valued at $1,049,000 after acquiring an additional 3,736 shares in the last quarter. 30.63% of the stock is currently owned by institutional investors.

Shares of NASDAQ DGICA traded down $0.03 during mid-day trading on Friday, reaching $14.20. The company had a trading volume of 14,000 shares, compared to its average volume of 23,583. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.09. The firm has a 50 day simple moving average of $14.42 and a two-hundred day simple moving average of $14.28. The stock has a market cap of $406.58 million, a P/E ratio of -14.20 and a beta of 0.28. Donegal Group has a 52-week low of $12.42 and a 52-week high of $15.43.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Monday, July 29th. The insurance provider reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.08. The firm had revenue of $197.22 million for the quarter, compared to the consensus estimate of $196.30 million. Donegal Group had a net margin of 1.75% and a return on equity of 0.39%. On average, equities analysts expect that Donegal Group will post 0.8 EPS for the current year.

DGICA has been the topic of a number of research reports. ValuEngine lowered shares of Donegal Group from a “buy” rating to a “hold” rating in a report on Saturday, August 31st. Zacks Investment Research upgraded shares of Donegal Group from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, October 2nd. Boenning Scattergood reiterated a “hold” rating on shares of Donegal Group in a report on Tuesday, July 30th. TheStreet lowered shares of Donegal Group from a “b-” rating to a “c” rating in a report on Tuesday, August 27th. Finally, BidaskClub upgraded shares of Donegal Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $16.00.

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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