Donegal Group, Inc. Forecasted to Earn Q1 2018 Earnings of $0.02 Per Share (DGICA)

Donegal Group, Inc. (NASDAQ:DGICA) – Investment analysts at Boenning Scattergood dropped their Q1 2018 EPS estimates for Donegal Group in a research note issued to investors on Wednesday, April 11th. Boenning Scattergood analyst R. Farnam now expects that the insurance provider will post earnings per share of $0.02 for the quarter, down from their previous estimate of $0.28. Boenning Scattergood currently has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for Donegal Group’s Q3 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.42 EPS, Q1 2019 earnings at $0.39 EPS, Q2 2019 earnings at $0.27 EPS, Q3 2019 earnings at $0.27 EPS, Q4 2019 earnings at $0.48 EPS and FY2019 earnings at $1.40 EPS.

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Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Friday, February 23rd. The insurance provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.35). Donegal Group had a net margin of 0.96% and a return on equity of 1.82%. The business had revenue of $188.55 million for the quarter, compared to analysts’ expectations of $190.40 million.

DGICA has been the subject of several other reports. Keefe, Bruyette & Woods set a $19.00 price objective on shares of Donegal Group and gave the company a “buy” rating in a research note on Friday, February 23rd. TheStreet downgraded shares of Donegal Group from a “b” rating to a “c+” rating in a research note on Friday, February 23rd. Zacks Investment Research downgraded shares of Donegal Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Finally, BidaskClub downgraded shares of Donegal Group from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Donegal Group currently has an average rating of “Hold” and a consensus price target of $19.33.

NASDAQ DGICA opened at $15.26 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.14. Donegal Group has a 12-month low of $14.51 and a 12-month high of $18.25. The stock has a market cap of $431.45, a price-to-earnings ratio of 50.87 and a beta of 0.42.

Several large investors have recently modified their holdings of DGICA. Millennium Management LLC raised its stake in Donegal Group by 169.4% in the fourth quarter. Millennium Management LLC now owns 125,698 shares of the insurance provider’s stock worth $2,175,000 after buying an additional 79,035 shares in the last quarter. Stone Ridge Asset Management LLC bought a new position in Donegal Group in the fourth quarter worth about $630,000. Deutsche Bank AG raised its stake in Donegal Group by 93.0% in the fourth quarter. Deutsche Bank AG now owns 85,808 shares of the insurance provider’s stock worth $1,481,000 after buying an additional 41,337 shares in the last quarter. Renaissance Technologies LLC raised its stake in Donegal Group by 20.0% in the fourth quarter. Renaissance Technologies LLC now owns 456,500 shares of the insurance provider’s stock worth $7,897,000 after buying an additional 76,200 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its stake in Donegal Group by 7.9% in the fourth quarter. CWA Asset Management Group LLC now owns 200,988 shares of the insurance provider’s stock worth $3,477,000 after buying an additional 14,738 shares in the last quarter. 31.06% of the stock is owned by hedge funds and other institutional investors.

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About Donegal Group

Donegal Group Inc, an insurance holding company, provides 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.

Earnings History and Estimates for Donegal Group (NASDAQ:DGICA)

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