Donegal Group, Inc. (NASDAQ:DGICA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Donegal Group Inc. is a regional property-casualty insurance holding company doing business in Mid-Atlantic and Southern states through its insurance subsidiaries: Atlantic States Insurance Company, Southern Heritage Insurance Company, Southern Insurance Company of Virginia, Delaware Atlantic Insurance Company, Pioneer Insurance Company, Ohio and Pioneer Insurance Company, New York. “

DGICA has been the topic of several other research reports. Boenning Scattergood reissued a “hold” rating on shares of Donegal Group in a research note on Friday, July 14th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $19.00 price objective on shares of Donegal Group in a research note on Friday, July 14th. BidaskClub lowered shares of Donegal Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Finally, TheStreet lowered shares of Donegal Group from a “b-” rating to a “c+” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $19.50.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Donegal Group had a net margin of 2.13% and a return on equity of 2.82%. The firm had revenue of $185.72 million for the quarter, compared to analyst estimates of $187.60 million.

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Several hedge funds and other institutional investors have recently bought and sold shares of DGICA. Russell Investments Group Ltd. raised its holdings in shares of Donegal Group by 45.8% in the second quarter. Russell Investments Group Ltd. now owns 7,636 shares of the insurance provider’s stock valued at $121,000 after purchasing an additional 2,400 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Donegal Group by 0.4% in the second quarter. Rhumbline Advisers now owns 11,052 shares of the insurance provider’s stock valued at $176,000 after purchasing an additional 40 shares during the last quarter. Hancock Holding Co. raised its holdings in shares of Donegal Group by 4.4% in the second quarter. Hancock Holding Co. now owns 11,470 shares of the insurance provider’s stock valued at $182,000 after purchasing an additional 480 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Donegal Group by 78.7% in the second quarter. The Manufacturers Life Insurance Company now owns 11,817 shares of the insurance provider’s stock valued at $189,000 after purchasing an additional 5,203 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Donegal Group by 15.6% in the first quarter. Swiss National Bank now owns 15,600 shares of the insurance provider’s stock valued at $275,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors own 29.48% of the company’s stock.

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.

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