Donegal Group (NASDAQ:DGICA) Announces Earnings Results, Beats Estimates By $0.39 EPS

Donegal Group (NASDAQ:DGICA) issued its quarterly earnings results on Thursday. The insurance provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.39, Zacks reports. The firm had revenue of $249.70 million for the quarter, compared to analyst estimates of $250.61 million. Donegal Group had a net margin of 2.54% and a return on equity of 3.95%.

Donegal Group Price Performance

DGICA stock traded up $0.16 during mid-day trading on Friday, reaching $15.74. The company’s stock had a trading volume of 16,861 shares, compared to its average volume of 85,455. The stock has a market cap of $533.42 million, a PE ratio of 20.73 and a beta of -0.02. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group has a fifty-two week low of $12.26 and a fifty-two week high of $17.00. The company’s 50 day moving average is $15.09 and its two-hundred day moving average is $15.17.

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were issued a $0.1725 dividend. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.69 dividend on an annualized basis and a yield of 4.39%. Donegal Group’s dividend payout ratio is presently 90.79%.

Insider Buying and Selling at Donegal Group

In other news, major shareholder Mutual Insurance Co Donegal purchased 270,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was acquired at an average price of $16.66 per share, for a total transaction of $4,498,200.00. Following the acquisition, the insider now directly owns 13,046,126 shares of the company’s stock, valued at approximately $217,348,459.16. This represents a 2.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Daniel Delamater sold 9,616 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $16.77, for a total transaction of $161,260.32. Following the sale, the executive vice president now owns 1,379 shares of the company’s stock, valued at $23,125.83. This represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders acquired 399,722 shares of company stock worth $6,643,696 and sold 289,064 shares worth $4,799,023. 6.63% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th.

Donegal Group Company Profile

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.