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.
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.
TRADEMARK VIOLATION WARNING: “Donegal Group, Inc. Forecasted to Earn Q1 2018 Earnings of $0.02 Per Share (DGICA)” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://ledgergazette.com/2018/04/13/donegal-group-inc-forecasted-to-earn-q1-2018-earnings-of-0-02-per-share-dgica.html.
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.
Receive News & Ratings for Donegal Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Donegal Group and related companies with MarketBeat.com's FREE daily email newsletter.