Kennedy Capital Management Inc. Boosts Holdings in Donegal Group, Inc. (DGICA)

Kennedy Capital Management Inc. lifted its stake in Donegal Group, Inc. (NASDAQ:DGICA) by 31.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 579,157 shares of the insurance provider’s stock after purchasing an additional 139,027 shares during the period. Kennedy Capital Management Inc. owned 2.12% of Donegal Group worth $9,209,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in shares of Donegal Group by 2.2% in the first quarter. Wells Fargo & Company MN now owns 380,908 shares of the insurance provider’s stock valued at $6,711,000 after purchasing an additional 8,217 shares in the last quarter. OLD Republic International Corp increased its holdings in shares of Donegal Group by 37.6% in the second quarter. OLD Republic International Corp now owns 234,000 shares of the insurance provider’s stock valued at $3,721,000 after purchasing an additional 64,000 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Donegal Group by 12.6% in the fourth quarter. Teachers Advisors LLC now owns 13,833 shares of the insurance provider’s stock valued at $242,000 after purchasing an additional 1,549 shares in the last quarter. TFS Capital LLC acquired a new stake in shares of Donegal Group in the first quarter valued at approximately $238,000. Finally, First Eagle Investment Management LLC increased its holdings in shares of Donegal Group by 2.5% in the second quarter. First Eagle Investment Management LLC now owns 50,703 shares of the insurance provider’s stock valued at $806,000 after purchasing an additional 1,240 shares in the last quarter. 29.48% of the stock is owned by institutional investors and hedge funds.

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Donegal Group, Inc. (DGICA) opened at 15.31 on Friday. The stock’s 50 day moving average is $15.26 and its 200-day moving average is $16.03. The company has a market capitalization of $418.30 million, a PE ratio of 32.44 and a beta of 0.29. Donegal Group, Inc. has a 12 month low of $14.49 and a 12 month high of $18.55.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Wednesday, July 19th. The insurance provider reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.04). Donegal Group had a return on equity of 2.24% and a net margin of 1.84%. The firm had revenue of $182.48 million for the quarter, compared to analyst estimates of $185.20 million. On average, analysts expect that Donegal Group, Inc. will post $0.63 EPS for the current year.

A number of analysts have commented on the stock. Boenning Scattergood reaffirmed a “hold” rating on shares of Donegal Group in a report on Friday, July 14th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $19.00 target price on shares of Donegal Group in a report on Friday, July 14th. TheStreet lowered shares of Donegal Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. BidaskClub lowered shares of Donegal Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research lowered shares of Donegal Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $18.00.

Donegal Group Company Profile

Donegal Group Inc (DGI) is an insurance holding company whose insurance subsidiaries offer personal and commercial lines of property and casualty insurance. The Company offered its insurance business to various businesses and individuals in 21 Mid-Atlantic, Midwestern, New England and Southern states, as of December 31, 2016.

Institutional Ownership by Quarter for Donegal Group (NASDAQ:DGICA)

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