Donegal Group Inc. (NASDAQ:DGICA) saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 50,500 shares, a decrease of 18.7% from the June 30th total of 62,100 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 23,100 shares, the short-interest ratio is currently 2.2 days.
Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in Donegal Group by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,793,905 shares of the insurance provider’s stock valued at $24,478,000 after buying an additional 8,491 shares during the period. BlackRock Inc. lifted its stake in Donegal Group by 6.6% in the second quarter. BlackRock Inc. now owns 885,331 shares of the insurance provider’s stock valued at $13,518,000 after buying an additional 54,446 shares during the period. Kennedy Capital Management Inc. lifted its stake in Donegal Group by 8.8% in the first quarter. Kennedy Capital Management Inc. now owns 875,012 shares of the insurance provider’s stock valued at $11,769,000 after buying an additional 70,726 shares during the period. OLD Republic International Corp lifted its stake in Donegal Group by 7.9% in the second quarter. OLD Republic International Corp now owns 664,500 shares of the insurance provider’s stock valued at $10,147,000 after buying an additional 48,400 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Donegal Group by 6.2% during the second quarter. Renaissance Technologies LLC now owns 530,209 shares of the insurance provider’s stock worth $8,096,000 after purchasing an additional 31,000 shares during the period. 30.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of DGICA traded up $0.13 during trading hours on Thursday, hitting $14.92. 19,424 shares of the stock traded hands, compared to its average volume of 20,308. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.09. Donegal Group has a 1-year low of $12.42 and a 1-year high of $15.43. The firm has a market capitalization of $415.84 million, a PE ratio of -14.92 and a beta of 0.29. The business has a fifty day moving average of $14.66 and a 200-day moving average of $13.99.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, July 31st. Donegal Group’s dividend payout ratio (DPR) is presently -58.00%.
Several analysts have recently commented on DGICA shares. Boenning Scattergood restated a “hold” rating on shares of Donegal Group in a report on Tuesday, July 30th. TheStreet upgraded Donegal Group from a “c+” rating to a “b-” rating in a report on Friday, May 24th. ValuEngine cut Donegal Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. BidaskClub upgraded Donegal Group from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Donegal Group from a “strong sell” rating to a “hold” rating and set a $16.00 target price on the stock in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Donegal Group presently has an average rating of “Hold” and a consensus target price 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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