Panagora Asset Management Inc. acquired a new stake in shares of Donegal Group Inc. (NASDAQ:DGICA) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 20,442 shares of the insurance provider’s stock, valued at approximately $312,000. Panagora Asset Management Inc. owned approximately 0.07% of Donegal Group as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of Donegal Group by 10.4% during the fourth quarter. Bank of America Corp DE now owns 53,181 shares of the insurance provider’s stock valued at $725,000 after purchasing an additional 4,998 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Donegal Group by 0.5% during 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 purchasing an additional 8,491 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Donegal Group by 434.1% during the first quarter. BNP Paribas Arbitrage SA now owns 1,987 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 1,615 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Donegal Group by 1.0% during the first quarter. Janney Montgomery Scott LLC now owns 111,366 shares of the insurance provider’s stock valued at $1,498,000 after purchasing an additional 1,153 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Donegal Group by 13.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 14,708 shares of the insurance provider’s stock valued at $198,000 after purchasing an additional 1,719 shares during the last quarter. 30.63% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on DGICA shares. TheStreet lowered shares of Donegal Group from a “b-” rating to a “c” rating in a report on Tuesday, August 27th. Boenning Scattergood reiterated a “hold” rating on shares of Donegal Group in a report on Tuesday, July 30th. BidaskClub upgraded shares of Donegal Group from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Finally, ValuEngine lowered shares of Donegal Group from a “buy” rating to a “hold” rating in a report on Saturday, August 31st. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $16.00.

NASDAQ DGICA traded down $0.13 during mid-day trading on Friday, reaching $14.53. The stock had a trading volume of 2,295 shares, compared to its average volume of 13,284. Donegal Group Inc. has a 1 year low of $12.42 and a 1 year high of $15.43. The stock has a market cap of $416.27 million, a PE ratio of -14.53 and a beta of 0.28. The company has a fifty day moving average price of $14.49 and a 200 day moving average price of $14.13. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.44 and a quick ratio of 0.44.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Monday, July 29th. The insurance provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. Donegal Group had a net margin of 1.75% and a return on equity of 0.39%. The company had revenue of $197.22 million during the quarter, compared to analyst estimates of $196.30 million. As a group, equities research analysts expect that Donegal Group Inc. will post 0.8 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.145 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.58 dividend on an annualized basis and a yield of 3.99%. Donegal Group’s payout ratio is currently -58.00%.

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

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