Donegal Group (DGICA) Misses Q4 EPS by 6c

Donegal Group (NASDAQ: DGICA) reported Q4 EPS of $0.20, $0.06 worse than the analyst estimate of $0.26.

• Net income and operating income1 for the full year of 2016 increased by 46.7% and 47.8%, respectively, from comparable amounts for the full year of 2015, largely due to improved underwriting results in 2016
• Net income and operating income for the fourth quarter of 2016 increased over amounts for the fourth quarter of 2015, primarily due to expenses the Company incurred in the prior-year quarter that related to the premium it paid when it repurchased 2.0 million shares of Class A common stock
• Net premiums written increased 8.5% and 9.5% for the full year and fourth quarter of 2016, respectively, from comparable amounts for the prior-year periods, primarily reflecting growth in the Company's commercial lines of business
• Statutory combined ratio1 of 96.8% for the full year of 2016, improved from 97.4% for the prior year; statutory combined ratio of 100.4% for the fourth quarter of 2016, an increase from 98.9% for the prior-year fourth quarter
• Return on average equity of 7.3% for the full year of 2016, compared to 5.1% for the prior year
• Book value per share of $16.21 at December 31, 2016, compared to $15.66 at December 31, 2015

For earnings history and earnings-related data on Donegal Group (DGICA) click here.

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