Donegal (DGICA)
Market Price (12/24/2025): $20.15 | Market Cap: $728.7 MilSector: Financials | Industry: Property & Casualty Insurance
Donegal (DGICA)
Market Price (12/24/2025): $20.15Market Cap: $728.7 MilSector: FinancialsIndustry: Property & Casualty Insurance
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, Dividend Yield is 3.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 12% | Trading close to highsDist 52W High is -3.8%, Dist 3Y High is -3.8% | Weak revenue growthRev Chg QQuarterly Revenue Change % is -2.3% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -66% | Weak multi-year price returns3Y Excs Rtn is -14% | Key risksDGICA key risks include [1] a persistently high expense ratio significantly above the sector average and [2] potential volatility in its historically favorable reserve development and investment returns. |
| Low stock price volatilityVol 12M is 25% |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, Dividend Yield is 3.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 12% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -66% |
| Low stock price volatilityVol 12M is 25% |
| Trading close to highsDist 52W High is -3.8%, Dist 3Y High is -3.8% |
| Weak multi-year price returns3Y Excs Rtn is -14% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -2.3% |
| Key risksDGICA key risks include [1] a persistently high expense ratio significantly above the sector average and [2] potential volatility in its historically favorable reserve development and investment returns. |
Why The Stock Moved
Qualitative Assessment
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Here are the key points for the movement of Donegal (DGICA) stock for the approximate time period from August 31, 2025, to December 24, 2025:1. Strong Q3 2025 Earnings Performance: Donegal Group Inc. reported adjusted earnings per share (EPS) of $0.52 for the third quarter of 2025, which significantly surpassed analysts' expectations of $0.4408 by 17.97%. This positive earnings surprise, along with a 20% year-over-year increase in net income to $20.1 million, contributed to favorable investor sentiment. A pre-market stock increase of 1.88% was noted following the earnings announcement.
2. Improved Underwriting Profitability: The company demonstrated enhanced operational efficiency by achieving an improved combined ratio of 95.9% for the third quarter of 2025. This metric is crucial for insurance companies, indicating a stronger underwriting performance and profitability, which is generally viewed positively by the market.
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Stock Movement Drivers
Fundamental Drivers
The 5.7% change in DGICA stock from 9/23/2025 to 12/23/2025 was primarily driven by a 4.6% change in the company's Net Income Margin (%).| 9232025 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 19.06 | 20.15 | 5.70% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 994.01 | 988.19 | -0.59% |
| Net Income Margin (%) | 8.33% | 8.72% | 4.63% |
| P/E Multiple | 8.34 | 8.46 | 1.37% |
| Shares Outstanding (Mil) | 36.26 | 36.16 | 0.25% |
| Cumulative Contribution | 5.70% |
Market Drivers
9/23/2025 to 12/23/2025| Return | Correlation | |
|---|---|---|
| DGICA | 5.7% | |
| Market (SPY) | 3.7% | 8.8% |
| Sector (XLF) | 3.1% | 31.1% |
Fundamental Drivers
The 6.3% change in DGICA stock from 6/24/2025 to 12/23/2025 was primarily driven by a 23.6% change in the company's Net Income Margin (%).| 6242025 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 18.96 | 20.15 | 6.29% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 993.64 | 988.19 | -0.55% |
| Net Income Margin (%) | 7.06% | 8.72% | 23.56% |
| P/E Multiple | 9.65 | 8.46 | -12.37% |
| Shares Outstanding (Mil) | 35.70 | 36.16 | -1.31% |
| Cumulative Contribution | 6.27% |
Market Drivers
6/24/2025 to 12/23/2025| Return | Correlation | |
|---|---|---|
| DGICA | 6.3% | |
| Market (SPY) | 13.7% | 19.6% |
| Sector (XLF) | 7.8% | 40.8% |
Fundamental Drivers
The 37.0% change in DGICA stock from 12/23/2024 to 12/23/2025 was primarily driven by a 243.0% change in the company's Net Income Margin (%).| 12232024 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 14.70 | 20.15 | 37.03% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 979.12 | 988.19 | 0.93% |
| Net Income Margin (%) | 2.54% | 8.72% | 242.96% |
| P/E Multiple | 19.77 | 8.46 | -57.21% |
| Shares Outstanding (Mil) | 33.46 | 36.16 | -8.09% |
| Cumulative Contribution | 36.13% |
Market Drivers
12/23/2024 to 12/23/2025| Return | Correlation | |
|---|---|---|
| DGICA | 37.0% | |
| Market (SPY) | 16.7% | 21.9% |
| Sector (XLF) | 15.7% | 38.9% |
Fundamental Drivers
The 60.5% change in DGICA stock from 12/24/2022 to 12/23/2025 was primarily driven by a 51.5% change in the company's P/S Multiple.| 12242022 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 12.56 | 20.15 | 60.47% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 835.02 | 988.19 | 18.34% |
| P/S Multiple | 0.49 | 0.74 | 51.54% |
| Shares Outstanding (Mil) | 32.36 | 36.16 | -11.76% |
| Cumulative Contribution | 58.25% |
Market Drivers
12/24/2023 to 12/23/2025| Return | Correlation | |
|---|---|---|
| DGICA | 55.9% | |
| Market (SPY) | 48.4% | 18.0% |
| Sector (XLF) | 52.3% | 36.6% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DGICA Return | -1% | 6% | 4% | 3% | 16% | 36% | 78% |
| Peers Return | 10% | 12% | 13% | 10% | 24% | -2% | 86% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 114% |
Monthly Win Rates [3] | |||||||
| DGICA Win Rate | 42% | 33% | 58% | 67% | 50% | 58% | |
| Peers Win Rate | 67% | 53% | 55% | 50% | 60% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| DGICA Max Drawdown | -21% | -2% | -7% | 0% | -9% | -8% | |
| Peers Max Drawdown | -34% | -10% | -12% | -10% | -4% | -19% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: CINF, THG, ERIE, SIGI, RLI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/23/2025 (YTD)
How Low Can It Go
| Event | DGICA | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -23.2% | -25.4% |
| % Gain to Breakeven | 30.2% | 34.1% |
| Time to Breakeven | 874 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -21.9% | -33.9% |
| % Gain to Breakeven | 28.0% | 51.3% |
| Time to Breakeven | 6 days | 148 days |
| 2018 Correction | ||
| % Loss | -31.3% | -19.8% |
| % Gain to Breakeven | 45.6% | 24.7% |
| Time to Breakeven | 2,161 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -38.5% | -56.8% |
| % Gain to Breakeven | 62.6% | 131.3% |
| Time to Breakeven | 6,017 days | 1,480 days |
Compare to HIG, FNF, PGR, CB, TRV
In The Past
Donegal's stock fell -23.2% during the 2022 Inflation Shock from a high on 7/1/2022. A -23.2% loss requires a 30.2% gain to breakeven.
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Donegal Group Inc., an insurance holding company, provides personal and commercial lines of property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property. It also offers commercial automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents and protection against loss from damage to automobiles owned by the insured; commercial multi-peril policies that provide protection to businesses against combining liability and physical damage coverages; and workers' compensation policies, which provide benefits to employees for injuries sustained during employment. The company markets its insurance products primarily to Mid-Atlantic, Midwestern, New England, Southern, and Southwestern regions through approximately 2,300 independent insurance agencies. Donegal Group Inc. was incorporated in 1986 and is headquartered in Marietta, Pennsylvania.
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A regional Allstate or Travelers for property and casualty insurance.
Like a smaller, regional version of Progressive or Nationwide for home and business insurance.
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- Private Passenger Automobile Insurance: Provides coverage for liability and physical damage to personal vehicles.
- Homeowners Insurance: Offers protection against property damage to homes and personal belongings, along with liability coverage.
- Commercial Automobile Insurance: Covers liability and physical damage for vehicles used in business operations.
- Commercial Multi-Peril (CMP) Insurance: Delivers comprehensive package policies for businesses, combining property, general liability, and other coverages.
- Workers' Compensation Insurance: Provides benefits to employees for work-related injuries or illnesses, including medical expenses and lost wages.
- Other Personal and Commercial Lines Insurance: Includes various specialized policies like dwelling fire, boat, personal and commercial umbrella, general liability, and professional liability.
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Donegal Group Inc. (symbol: DGICA) is a regional property and casualty insurance company that underwrites and markets personal and commercial lines of insurance through a network of independent insurance agents.
Due to the nature of its business as a diversified insurer serving a broad market, Donegal Group Inc. does not have a few specific "major customer companies" that represent a significant portion of its revenue. Instead, its customer base is highly fragmented and diversified across many policyholders.
The company primarily sells insurance policies to a wide range of individuals and businesses. Its customers can be categorized as follows:
- Individuals and Households: These customers purchase personal lines of insurance such as private passenger automobile, homeowners, and personal umbrella policies to protect their personal assets and liabilities.
- Small to Medium-sized Commercial Businesses: This broad category includes businesses across various industries (e.g., retail, service, contractors, light manufacturing) that purchase commercial lines of insurance such as commercial automobile, general liability, commercial property, and workers' compensation policies.
- Farm Owners and Agricultural Businesses: Donegal also provides specialized insurance products tailored to the unique needs of the agricultural sector, including farm owners' policies and related coverages for farming operations and agribusinesses.
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Here is an overview of the management team members for Donegal (symbol: DGICA):Kevin G. Burke President and Chief Executive Officer
Kevin G. Burke has served as President and Chief Executive Officer of Donegal Group Inc. since 2015 and has held the same position for Donegal Mutual Insurance Company since 2018. He previously served as Executive Vice President and Chief Operating Officer of Donegal Group Inc. from 2014 to 2015, and held the same position for Donegal Mutual during that period. His career at Donegal also includes roles as Senior Vice President of Human Resources for Donegal Mutual and Donegal Group Inc. from 2005 to 2014, and Vice President of Human Resources for Donegal Mutual from 2001 to 2005, among other earlier positions from 2000 to 2001.Jeffrey D. Miller Executive Vice President and Chief Financial Officer
Jeffrey D. Miller was named Executive Vice President and Chief Financial Officer of Donegal Mutual Insurance Company and Donegal Group Inc. in 2014. Prior to this, he served as Senior Vice President and Chief Financial Officer from 2005 to 2014, and as Vice President and Controller from 2000 to 2005. Mr. Miller has held various other positions within Donegal Mutual and Donegal Group Inc. since 1993. He also previously worked as Chief Financial Officer and Senior Vice President at Le Mars Insurance Co., which was acquired by Donegal Group Inc. in 2004.W. Daniel DeLamater Executive Vice President and Chief Operating Officer
W. Daniel DeLamater was appointed Executive Vice President and Chief Operating Officer in 2024. Before this, he served as Senior Vice President and Head of Field Operations & National Accounts for Donegal Mutual Insurance Company and Senior Vice President of Donegal Group Inc. since 2022. He was also the Senior Vice President of National Accounts for Donegal Mutual Insurance Company from 2020 to 2022. DeLamater has additionally served as the President of Southern Mutual Insurance Company, a member of the Donegal Insurance Group, since 2016, and held other positions at Southern Mutual from 2000 to 2015.Jeffery T. Hay Executive Vice President and Chief Underwriting Officer
Jeffery T. Hay was named Executive Vice President and Chief Underwriting Officer of Donegal Mutual Insurance Company and Executive Vice President of Donegal Group Inc. in 2025. He previously served as Senior Vice President and Chief Underwriting Officer of Donegal Mutual Insurance Company and Senior Vice President of Donegal Group Inc. from 2021 to 2024. Mr. Hay brings over 25 years of experience in personal and commercial lines, including expertise in underwriting, ratemaking, product management, and data analytics. His career includes leadership roles at Nationwide, The Hartford, and Willis Towers Watson, where he was a Senior Director in the Insurance Consulting and Technology division.Sanjay Pandey Executive Vice President and Chief Information Officer
Sanjay Pandey was named Executive Vice President and Chief Information Officer of Donegal Mutual Insurance Company and Donegal Group Inc. in 2025. He served as Senior Vice President and Chief Information Officer from 2013 to 2024, and as Vice President and Chief Information Officer from 2009 to 2013. Mr. Pandey has held various other positions with Donegal Mutual Insurance Company since 2000.AI Analysis | Feedback
Here are the key risks to Donegal's business:- High Expense Ratio: Donegal Group faces a persistent challenge with its high expense ratio, which is significantly above the property and casualty sector average. This operational inefficiency is a major factor impacting the company's profitability, with improvements largely dependent on reducing this ratio.
- Exposure to Severe Weather Events and Catastrophe Losses: As a property and casualty insurer, Donegal is inherently vulnerable to substantial losses resulting from severe weather events and natural catastrophes. These events directly impact the company's financial results, despite ongoing efforts to diversify geographic risk and utilize reinsurance to mitigate their effects.
- Volatility of Reserve Development and Investment Returns: Donegal's earnings have historically benefited from favorable reserve development and investment returns. However, both of these factors are volatile by nature, creating a risk that deteriorating claims trends or a shift from reserve releases to charges could undermine underwriting profits and overall financial performance.
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The rise of insurtech companies represents a clear emerging threat. These digital-first insurers leverage advanced technology, artificial intelligence, and direct-to-consumer models to offer a simplified, faster, and often more personalized insurance experience. Companies like Lemonade, Hippo, and Root are directly challenging the traditional insurance distribution model that Donegal Group relies on, which is primarily through independent agencies. This technological disruption and shift in consumer preference toward digital channels could erode Donegal's market share, particularly among younger, tech-savvy customers seeking convenience and efficiency in purchasing and managing their insurance policies.
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Donegal (symbol: DGICA) operates as an insurance holding company, providing personal and commercial lines of property and casualty insurance to businesses and individuals primarily across the Mid-Atlantic, Midwestern, New England, and Southern states of the United States.
Addressable Markets for Donegal's Main Products and Services (U.S. Region)
-
U.S. Personal Lines Insurance Market:
The U.S. personal lines insurance market, which includes homeowners, farmowners, and private auto insurance, reached approximately $534.92 billion in direct annual premiums in 2024.
- Specifically, private auto direct premiums written totaled approximately $358.77 billion in 2024.
- Homeowners direct premiums written climbed to approximately $169.55 billion in 2024.
-
U.S. Commercial Lines Insurance Market:
The U.S. commercial insurance market was valued at approximately $294.6 billion in 2024. This market is projected to reach approximately $489.1 billion by 2033, demonstrating a compound annual growth rate (CAGR) of 5.20% from 2025 to 2033.
- For context, commercial auto direct premiums written were approximately $70.94 billion in 2024.
- Workers' compensation direct premiums written were approximately $55.42 billion in 2024.
- A combination of commercial property lines (allied lines, fire, and commercial multi-peril non-liability) reached approximately $103.97 billion in direct premiums in 2024.
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Here are 3-5 expected drivers of future revenue growth for Donegal (symbol: DGICA) over the next 2-3 years:- Growth in Commercial Lines Premiums: Donegal Group is strategically emphasizing and growing its commercial lines business. In the third quarter of 2025, commercial lines net premiums written increased by 3.4%, aligning with the company's long-term strategy to expand this segment.
- Implementation of Premium Rate Increases: The company has been successful in implementing premium rate increases across its insurance products. For instance, commercial lines renewal premium increases averaged 11.0% (excluding workers' compensation), which helps to offset other factors like lower new business volume and planned attrition, directly contributing to higher net premiums earned.
- Enhanced Investment Income: While not a direct driver of insurance premiums, significant growth in net investment income contributes substantially to Donegal's overall financial strength and profitability. In Q3 2025, net investment income increased by 28.8% due to higher average investment yields. This strong investment performance can support underwriting capacity and reinvestment into growth initiatives.
- Operational Modernization and Data Analytics: Donegal is strategically modernizing its operations and processes, including implementing new systems to streamline business workflows and enhance data analytics. These improvements are expected to lead to better risk selection, more efficient pricing, and ultimately support profitable growth in premium volume by making the company more competitive and operationally efficient. The expense impact of this modernization is projected to decline, further supporting profitability.
- Expansion within Existing Markets: The company is focused on capitalizing on opportunities to grow profitably and continuing its expansion within its existing markets through its established network of independent insurance agents. This strategy aims to increase market penetration and customer acquisition in its current operating regions.
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Inbound Investments
- Donegal Mutual Insurance Company, the parent company, has consistently made large-scale purchases of Donegal Group's Class A common stock, demonstrating aggressive stake expansion and strategic decision-making at the parent company level.
- These purchases began on July 30, 2024, and continued almost daily into 2025.
- Notable single-day purchases by Donegal Mutual include 150,432 shares for $2.32 million on October 31, 2024, and 270,000 shares for $4.46 million on December 6, 2024.
- More recently, on November 4, 2025, Donegal Mutual Insurance Co. acquired 8,000 shares of Class A Common Stock for approximately $149,704.
Capital Expenditures
- Capital expenditures by Donegal Group Inc. were reported as immaterial or very low in recent years.
- The company recorded capital expenditures of -$0 million in 2024, -$0.04 million in 2022, and -$0.09 million in 2020.
- As of September 30, 2021, the company had no material commitments for capital expenditures.
Trade Ideas
Select ideas related to DGICA. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 12.4% | 12.4% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.8% | 0.8% | -0.5% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -5.4% | -5.4% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 7.1% | 7.1% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -11.5% | -11.5% | -12.1% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Donegal
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 125.41 |
| Mkt Cap | 6.3 |
| Rev LTM | 4,652 |
| Op Inc LTM | - |
| FCF LTM | 1,004 |
| FCF 3Y Avg | 711 |
| CFO LTM | 1,013 |
| CFO 3Y Avg | 722 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.2% |
| Rev Chg 3Y Avg | 10.7% |
| Rev Chg Q | 7.6% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 22.7% |
| CFO/Rev 3Y Avg | 21.5% |
| FCF/Rev LTM | 22.0% |
| FCF/Rev 3Y Avg | 20.9% |
Price Behavior
Price Behavior
| Market Price | $20.15 | |
| Market Cap ($ Bil) | 0.7 | |
| First Trading Date | 07/03/2003 | |
| Distance from 52W High | -3.8% | |
| 50 Days | 200 Days | |
| DMA Price | $19.62 | $18.75 |
| DMA Trend | up | up |
| Distance from DMA | 2.7% | 7.4% |
| 3M | 1YR | |
| Volatility | 19.6% | 24.9% |
| Downside Capture | -31.66 | 15.44 |
| Upside Capture | 0.37 | 43.89 |
| Correlation (SPY) | 10.0% | 21.9% |
DGICA Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.37 | 0.21 | 0.41 | 0.55 | 0.31 | 0.32 |
| Up Beta | 0.39 | 0.51 | 0.90 | 1.03 | 0.31 | 0.34 |
| Down Beta | -0.01 | 0.50 | 0.09 | 0.02 | 0.21 | 0.11 |
| Up Capture | 138% | 25% | 76% | 48% | 36% | 17% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 14 | 21 | 31 | 61 | 119 | 363 |
| Down Capture | -15% | -20% | 12% | 72% | 36% | 62% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 5 | 20 | 31 | 62 | 125 | 369 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of DGICA With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| DGICA | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 33.3% | 18.1% | 18.8% | 72.9% | 9.0% | 3.7% | -11.4% |
| Annualized Volatility | 24.8% | 19.0% | 19.5% | 19.2% | 15.3% | 17.2% | 35.0% |
| Sharpe Ratio | 1.11 | 0.74 | 0.76 | 2.72 | 0.36 | 0.05 | -0.14 |
| Correlation With Other Assets | 38.3% | 21.5% | 1.5% | -5.4% | 37.8% | -1.4% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of DGICA With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| DGICA | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 11.9% | 16.2% | 14.8% | 18.9% | 11.8% | 4.7% | 35.5% |
| Annualized Volatility | 23.0% | 18.9% | 17.1% | 15.5% | 18.7% | 18.9% | 48.9% |
| Sharpe Ratio | 0.46 | 0.71 | 0.70 | 0.98 | 0.51 | 0.16 | 0.62 |
| Correlation With Other Assets | 36.4% | 24.5% | 0.2% | 1.1% | 29.8% | 6.3% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of DGICA With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| DGICA | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 8.6% | 13.1% | 14.8% | 15.1% | 6.8% | 5.4% | 69.1% |
| Annualized Volatility | 25.4% | 22.3% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.35 | 0.55 | 0.71 | 0.85 | 0.31 | 0.23 | 0.90 |
| Correlation With Other Assets | 45.4% | 40.5% | 2.8% | 10.4% | 40.1% | 8.6% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/24/2025 | -6.2% | -6.4% | -4.4% |
| 2/20/2025 | 2.7% | 12.0% | 21.3% |
| 10/24/2024 | 8.6% | 6.3% | 10.9% |
| 7/25/2024 | 5.6% | 5.0% | 5.4% |
| 2/22/2024 | -0.3% | -4.1% | -3.5% |
| 10/26/2023 | 1.7% | 0.7% | 2.5% |
| 7/27/2023 | 0.3% | 0.1% | -1.4% |
| 2/23/2023 | 0.7% | 3.0% | -3.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 13 | 13 |
| # Negative | 6 | 7 | 7 |
| Median Positive | 2.3% | 3.0% | 3.7% |
| Median Negative | -2.5% | -4.1% | -3.5% |
| Max Positive | 8.6% | 12.0% | 21.3% |
| Max Negative | -10.2% | -10.6% | -7.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11042025 | 10-Q 9/30/2025 |
| 6302025 | 8052025 | 10-Q 6/30/2025 |
| 3312025 | 5062025 | 10-Q 3/31/2025 |
| 12312024 | 3102025 | 10-K 12/31/2024 |
| 9302024 | 11062024 | 10-Q 9/30/2024 |
| 6302024 | 8072024 | 10-Q 6/30/2024 |
| 3312024 | 5032024 | 10-Q 3/31/2024 |
| 12312023 | 3062024 | 10-K 12/31/2023 |
| 9302023 | 11032023 | 10-Q 9/30/2023 |
| 6302023 | 8042023 | 10-Q 6/30/2023 |
| 3312023 | 5052023 | 10-Q 3/31/2023 |
| 12312022 | 3062023 | 10-K 12/31/2022 |
| 9302022 | 11042022 | 10-Q 9/30/2022 |
| 6302022 | 8052022 | 10-Q 6/30/2022 |
| 3312022 | 5052022 | 10-Q 3/31/2022 |
| 12312021 | 3072022 | 10-K 12/31/2021 |
Insider Activity
Expand for More| Owner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | DONEGAL MUTUAL INSURANCE CO | 11262025 | Buy | 19.77 | 8,000 | 158,130 | 272,622,566 | Form | |
| 1 | DONEGAL MUTUAL INSURANCE CO | 11242025 | Buy | 19.49 | 8,000 | 155,898 | 268,462,702 | Form | |
| 2 | DONEGAL MUTUAL INSURANCE CO | 11202025 | Buy | 19.84 | 7,104 | 140,953 | 273,031,645 | Form | |
| 3 | DONEGAL MUTUAL INSURANCE CO | 11182025 | Buy | 19.92 | 8,000 | 159,357 | 273,808,248 | Form | |
| 4 | DONEGAL MUTUAL INSURANCE CO | 11142025 | Buy | 19.74 | 6,794 | 134,107 | 270,595,437 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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