Donegal Group Inc
Donegal Group Inc operates as a multiline insurance provider, generating revenue through underwriting premiums and investment income from its fixed maturity and equity securities portfolio.
Business. Donegal Group Inc (DGICA) is an insurance company operating within the Financials sector. The firm is headquartered in the United States and is primarily listed on the Nasdaq stock exchange. Specific details regarding its operating segments and geographic revenue mix are not available. Consequently, the company is described at the industry level as an insurer without further operational breakdown.
Analyst recommendations
3 analysts · consensus Hold- DividendDividend USD 0.1925/sh2026-08-14
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
At a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
0Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- DividendDividend USD 0.1925/sh2026-08-14
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Donegal Group Inc (DGICA) is an insurance company operating within the Financials sector. The firm is headquartered in the United States and is primarily listed on the Nasdaq stock exchange. Specific details regarding its operating segments and geographic revenue mix are not available. Consequently, the company is described at the industry level as an insurer without further operational breakdown.
Donegal Group maintains a conservative capital structure characterized by zero reported debt, resulting in a debt-to-equity ratio of 0.0. Total assets stand at $2.45 billion, funded primarily by liabilities of $1.80 billion and total equity of $649.1 million. The balance sheet is heavily weighted toward fixed maturity securities, with $785.2 million in held-to-maturity instruments and $664.0 million in available-for-sale securities, providing a stable asset base to support insurance obligations. Operating cash flow for the first quarter of 2026 was $20.2 million, indicating positive cash generation from core operations.
Profitability metrics show a return on equity of 12.22% and a return on assets of 3.24% for the period. Net income reached $11.5 million on revenues of $236.0 million. The investment portfolio contributed to results with net realized gains of $69,000, though this was offset by net investment losses of $479,000 driven by gross unrealized losses on equity securities of $1.48 million and credit impairment charges on fixed maturities of $39,000. The company leverages its relationship with Donegal Mutual to enhance underwriting capacity and achieve operational synergies, supporting consistent underwriting discipline.
- Zero debt-to-equity ratio indicates a highly conservative capital structure with no leverage risk.
- Investment portfolio includes significant fixed maturity holdings ($1.45 billion total) providing stable yield but exposing the company to interest rate and credit risk.
- Net investment losses of $479,000 in Q1 2026 highlight sensitivity to equity market volatility and credit impairments.
- Analyst consensus is neutral-to-positive with a mean price target of $18.88, implying limited near-term upside.
- Strategic relationship with Donegal Mutual enhances underwriting capacity and operational synergies.
Bull / Bear case
Generated · model-assistedNet income surged with a 239% two-year CAGR from FY2023 to FY2025, demonstrating strong profitability growth.
Analysts project 2.4% upside to a mean price target of $18.88, suggesting modest valuation support.
Revenue grew 3.3% annually over two years, showing consistent top-line expansion despite market volatility.
The company maintains a zero debt-to-equity ratio, significantly below the cohort median of 0.17.
Cash conversion of 0.88 falls below the cohort median of 1.2, suggesting inferior cash generation efficiency.
Revenue growth slowed to just 1.2% year-over-year in FY2025, reflecting stagnating top-line momentum.
Analysts assign a 'hold' recommendation, indicating limited conviction for near-term price appreciation.
In focus — financials by report
Revenue $236.0M; Net margin 4.9%.
- ▍Revenue $236.0M
- ▍Net margin 4.9%
Revenue $737.9M; Net margin 8.4%.
- ▍Revenue $737.9M
- ▍Net margin 8.4%
Revenue $492.0M; Net margin 8.6%.
- ▍Revenue $492.0M
- ▍Net margin 8.6%
Revenue $978.0M; Net margin 8.1%.
- ▍Revenue $978.0M
- ▍Net margin 8.1%
Revenue $989.6M; Net margin 5.1%.
- ▍Revenue $989.6M
- ▍Net margin 5.1%
Revenue $989.6M; Net margin 5.1%.
- ▍Revenue $989.6M
- ▍Net margin 5.1%
Revenue $927.3M; Net margin 0.5%.
- ▍Revenue $927.3M
- ▍Net margin 0.5%
Revenue $927.3M; Net margin 0.5%.
- ▍Revenue $927.3M
- ▍Net margin 0.5%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 1,73 |
| Revenue | —no estimate | —no estimate | 951,6M USD |
| Operating income | —no estimate | —no estimate | —no estimate |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Derivative transactions
- EVP & Chief Oper Officer · Options → Class A Common StockDisposed 9 000 @ $14,39exercise · 2026-03-03
Actions
Ask Handelsavisen
- Market data
- Regulatory filings
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Cash Conversion Ratiooperating_cash_flow / net_income
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Return On Equitynet_income / total_equity
- Return On Assetsnet_income / total_assets
- DONEGAL GROUP INC company facts · 2026-07-31
- DONEGAL GROUP INC 10-Q 2026-05-07 · 2026-07-31
- DONEGAL GROUP INC 10-K 2026-03-06 · 2026-07-31
- DONEGAL GROUP INC 10-Q 2025-11-04 · 2026-07-31
- DONEGAL GROUP INC 10-Q 2025-08-05 · 2026-07-31
- 8-K (sec_8k_material) on DGICA · 2026-07-31
- Donegal Group Inc Market data — analyst estimates · 2026-07-31
- Donegal Group Inc Market data — ESG · 2026-07-31
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,00 %$7M
- Investment Managers · as of 2026-03-310,00 %$5M
- Investment Managers · as of 2026-03-310,00 %$3M
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$3M
- Investment Managers · as of 2026-03-310,00 %$10M
- Institutional Investor · as of 2026-03-310,00 %$3M
- Investment Managers · as of 2024-06-300,00 %$21M
- Investment Managers · as of 2026-03-310,00 %$2M
- Investment Managers · as of 2026-03-310,00 %$3M
- Investment Managers · as of 2026-03-310,00 %$3M
- Investment Managers · as of 2026-03-310,00 %$2M
- Brokerage Firms · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$7M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2024-12-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
- Funds · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2025-12-310,00 %$1M
- Institutional Investor · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Brokerage Firms · as of 2026-03-310,00 %$0M
Leadership
- David W. SponicSenior Vice President
Insider activity
- Sr. VP & Chief Risk Officer · Class A Common StockOther 81 @ $16,03$1K · 2026-07-01
- EVP & Chief Financial Officer · Class A Common StockOther 649 @ $16,03$10K · 2026-07-01
- Sr. VP & Chief Info Officer · Class A Common StockOther 405 @ $16,03$6K · 2026-07-01
- SVP & CHIEF ACCOUNTING OFFICER · Class A Common StockOther 515 @ $16,03$8K · 2026-07-01
- Director, President & Chief Exec Officer · Class A Common StockOther 324 @ $16,03$5K · 2026-07-01
- Senior Vice President · Class A Common StockOther 527 @ $16,03$8K · 2026-07-01
- EVP & Chief Oper Officer · Class A Common StockOther 324 @ $16,03$5K · 2026-07-01
- Sr. Vice President · Class A Common StockOther 16 @ $16,03$256 · 2026-07-01
- Senior Vice President · Class A Common StockOther 661 @ $16,03$11K · 2026-07-01
- 10% owner · Class A Common StockBought 9 682 @ $17,62$171K · 2026-06-12
- 10% owner · Class A Common StockBought 9 900 @ $17,56$174K · 2026-06-11
- 10% owner · Class A Common StockBought 10 000 @ $16,62$166K · 2026-06-03
- 10% owner · Class A Common StockBought 8 500 @ $17,03$145K · 2026-06-02
- 10% owner · Class A Common StockBought 8 500 @ $16,76$142K · 2026-06-01
- 10% owner · Class A Common StockBought 8 500 @ $17,10$145K · 2026-05-29
- 10% owner · Class A Common StockBought 8 500 @ $16,98$144K · 2026-05-28
- 10% owner · Class A Common StockBought 8 500 @ $17,15$146K · 2026-05-27
- 10% owner · Class A Common StockBought 8 500 @ $17,33$147K · 2026-05-26
- 10% owner · Class A Common StockBought 8 500 @ $17,40$148K · 2026-05-22
- 10% owner · Class A Common StockBought 8 500 @ $17,48$149K · 2026-05-21
- 10% owner · Class A Common StockBought 8 500 @ $17,43$148K · 2026-05-20
- 10% owner · Class A Common StockBought 8 328 @ $17,48$146K · 2026-05-19
- 10% owner · Class A Common StockBought 8 500 @ $17,33$147K · 2026-05-18
- Sr. VP & Chief Info Officer · Class A Common StockOther 318 @ $17,25$5K · 2026-05-15
- EVP & Chief Financial Officer · Class A Common StockOther 465 @ $17,25$8K · 2026-05-15
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Pre-tax income (annual): USD 97.59MUnknown
- Net income (annual): USD 79.34MUnknown
- Total liabilities (annual): USD 1.75BUnknown
- Total assets (annual): USD 2.39BUnknown
- Revenue (annual): USD 978.01MUnknown
- Interest expense (annual): USD 1.35MUnknown
- Shareholders' equity (annual): USD 640.42MUnknown
- Operating cash flow (annual): USD 70.2MUnknown
- Pre-tax income (annual): USD 62.34MUnknown
- Interest expense (annual): USD 946.02KUnknown
- Revenue (annual): USD 989.61MUnknown
- Operating cash flow (annual): USD 67.44MUnknown
- Net income (annual): USD 50.86MUnknown
- Total liabilities (annual): USD 1.79BUnknown
- Total assets (annual): USD 2.34BUnknown
- Shareholders' equity (annual): USD 545.78MUnknown