Adeia Inc. (ADEA) Q1 2026 Earnings Call Transcript
Adeia Inc. (ADEA) Q1 2026 Earnings Call Transcript
seekingalpha.com
DGICA(DGICA)
DGICA
Next earnings: Jul 23, 2026 · Before open
Signal
Leaning Bullish1↑
PRICE
Prev Close
16.41
Open
16.35
Day Range16.11 – 16.67
16.11
16.67
52W Range16.11 – 21.12
16.11
21.12
4% of range
VOLUME & SIZE
Avg Volume
121.9K
FUNDAMENTALS
P/E Ratio
9.2x
Value territory
EPS (TTM)
—
Div Yield
0.04%
Beta
0.33
Low vol
Performance
1D
-0.55%5D
-8.67%1M
-5.34%3M
-13.79%6M
-13.33%YTD
-18.32%1Y↓
-18.40%Worst: 1Y (-18.40%)
Quick Read
Trend—Insufficient MA data
Momentum
NEUTRAL
rev -2% · 29% gross marginValuation
CHEAP
P/E 9x vs ~20x sectorHealth
MODERATE
CR 0.0 (low) · FCF $1.93/shBullish
Key MetricsTTM
Market Cap$598.10M
Revenue TTM$969.21M
Net Income TTM$65.65M
Free Cash Flow$70.20M
Gross Margin29.0%
Net Margin6.8%
Operating Margin8.3%
Return on Equity10.4%
Return on Assets2.7%
Debt / Equity0.05
Current Ratio0.00
EPS TTM$1.80
Alpha SignalsFull Analysis →
What Moves This Stock
Quarterly combined ratio performance - target sub-95% indicates profitable underwriting
Catastrophic weather events impacting Mid-Atlantic/Southern regions (hurricanes, severe convective storms)
Premium rate increases in commercial lines and personal auto segments
Investment portfolio yield expansion as fixed-income securities reprice at higher rates
Macro Sensitivity
Economic Cycle
moderate - Commercial lines exposure creates cyclical sensitivity as small business formation, construction activity, and employment levels drive premium volumes. Personal auto premiums correlate with vehicle miles traveled and employment. However, insurance is non-discretionary spending, providing revenue stability during recessions. Loss frequency may decline in downturns (fewer miles driven) but severity can increase (delayed vehicle maintenance, litigation trends).
Interest Rates
Rising rates are highly positive for P&C insurers. Donegal's investment portfolio (estimated $800M+ in fixed income) reprices at higher yields as bonds mature and reinvest, directly increasing investment income. Higher rates also increase discount rates applied to loss reserves, potentially releasing capital. However, rising rates can pressure equity valuations through higher discount rates on future earnings. The net effect is positive for earnings power but mixed for valuation multiples.
Key Risks
Climate change increasing frequency/severity of catastrophic weather events in operating footprint, particularly coastal exposure in Virginia/North Carolina and severe convective storms in Mid-Atlantic
Direct-to-consumer digital insurers (Lemonade, Root) disrupting traditional agent distribution model in personal lines, though commercial lines remain relationship-driven
Regulatory pressure on rate adequacy in personal auto following industry-wide underwriting losses in 2022-2023
Investor Profile
value - Stock trades at 0.9x book value despite 14.6% ROE, suggesting market skepticism about earnings quality or growth prospects. Attracts value investors seeking regional P&C insurers with improving combined ratios and rising investment yields. Dividend yield (estimated 3-4%) appeals to income-focused investors. Limited institutional ownership typical of sub-$1B market cap insurers.
Watch on Earnings
10-Year Treasury yield (GS10) - drives investment portfolio repricing and discount ratesPersonal auto loss cost inflation trends - medical costs, auto repair costs, litigation severityCommercial property rate change momentum - indicates pricing power sustainabilityCatastrophic weather event frequency in Pennsylvania, Virginia, North Carolina operating regions
Health Radar
3 strong1 watch2 concern
56/100Liquidity
0.00Concern
Leverage
0.05Strong
Coverage
59.6xStrong
ROE
10.4%Watch
ROIC
184.9%Strong
Cash
$27MConcern
ANALYST COVERAGE2 analysts
BUY
Stock Health
Composite Score
2 of 5 signals bullish
3/10
Technicals
●
✓RSI RangeRSI 55 — Bullish momentum
Volume
●
✗Volume FlowDistribution — institutional selling
Fundamentals
●
✗Last EarningsMissed estimates
●
✓Analyst ConsensusBuy
●
✗LiquidityCurrent Ratio 0.00 — liquidity risk
Upcoming Events
EEarnings ReportMay 6, 2026
Tomorrow
DEx-Dividend DateAug 3, 2026
In 90 days
PDividend PaymentAug 27, 2026
In 114 days
FinancialsFull statements →
Technicals
Technical SetupBEARISH
Technicals →Trend
▼ DowntrendDeath Cross · 50D trails 200D by 6.2%
-6.5% vs SMA 50 · -12.2% vs SMA 200
Momentum
RSI55.2Positive momentum, not extended
MACD-0.38Below zero — bearish pulse · compressing
Market Position
Price Levels
52W High
$21.12+29.4%
EMA 50
$19.61+20.2%
EMA 200
$18.71+14.6%
Current
$16.32
52W Low
$16.11-1.3%
52-Week RangeNear 52-week low
$16.114th %ile$21.12
Squeeze SetupVolume-based
Distribution PressureDistribution pattern detected. More selling days than accumulation over the past 20 sessions. Not a conducive environment for a squeeze.
20-Day Money Flow
Acc days:3
Dist days:5
Edge:+2 dist
Volume Context
Avg Vol (50D)151K
Recent Vol (5D)
105K-31%
Based on volume distribution analysis. Direct short interest data (short float %, days to cover) is not available in current data sources.
Earnings & Analysts
ANALYST ESTIMATES
Consensus of 2 analysts
Analyst revisions:EPS↑ Revised Up
Analyst consensus estimates · Actuals replace estimates as reported
| Year | Revenue Est. | Rev Gth | EPS Est. | EPS Gth | Range | Analysts |
|---|---|---|---|---|---|---|
FY2023 | $894.3M $894.1M–$894.5M | — | $0.39 | — | ±30% | Low2 |
FY2024 | $958.4M $952.9M–$964.0M | ▲ +7.2% | $1.00 | ▲ +153.5% | ±1% | Low1 |
FY2025 | $916.8M $911.5M–$922.1M | ▼ -4.3% | $2.20 | ▲ +120.0% | ±1% | Low1 |
Range confidence:Tight (high)ModerateWide (low)
Earnings HistoryDGICA
Last 8Q
+80.2%avg beat
Beat 6 of 8 quartersMissed 2↑ Estimates rising+57%
Q3'24
+360%
Q4'24
+130%
Q1'25
+100%
Q2'25
+19%
Q3'25
+2%
Q4'25
-7%
Q1'26
-20%
Q2'26
Beat
Miss
Estimate
Deeper color = bigger beat/miss
Insider Activity
SEC Filings →4 Buys/2 SellsNet Buying
Donegal Mutual Insu…10 Percent Own…
$159K
Mar 3
BUY
Delamater William D…EVP & Chief Op…
$159K
Mar 3
SELL
Bawel David BenjaminSVP & CHIEF AC…
$14K
Dec 11
SELL
Donegal Mutual Insu…10 Percent Own…
$457K
Dec 10
BUY
Donegal Mutual Insu…10 Percent Own…
$555K
Dec 9
BUY
Donegal Mutual Insu…10 Percent Own…
$538K
Dec 8
BUY
Financials
Dividends4.54% yield
+6.6% avg annual growthAnnual Yield4.54%
Quarterly Div.$0.1930
Est. Annual / Share$0.77
FrequencyQuarterly
Q3'24
Q4'24
Q1'25
Q2'25
Q3'25
Q4'25
Q1'26
Q2'26
Dividend per payment — last 8 periods
INSTITUTIONAL OWNERSHIP
1
OLD REPUBLIC INTERNATIONAL CORP
426K—2
ProShare Advisors LLC
356K▲3
TEACHER RETIREMENT SYSTEM OF TEXAS
135K▼4
PINNACLE ASSOCIATES LTD
91K▲5
Pinnacle Wealth Management Advisory Group, LLC
23K▲6
Nuveen, LLC
21K—7
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC
20K▼8
HSBC HOLDINGS PLC
18K▼News & Activity
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About
Donegal Group Inc. is an insurance holding company whose insurance subsidiaries and affiliates offer personal and commercial property and casualty lines of insurance in 24 Mid-Atlantic, Midwestern, New England, Southern and Southwestern states. Donegal Mutual Insurance Company and the insurance subsidiaries of Donegal Group Inc. conduct business together as the Donegal Insurance Group. The Donegal Insurance Group has an A.M. Best rating of A (Excellent). The Class A common stock and Class B common stock of Donegal Group Inc. trade on the NASDAQ Global Select Market under the symbols DGICA and DGICB, respectively. We are focused on several primary strategies, including achieving sustained excellent financial performance, strategically modernizing our operations and processes to transform our business, capitalizing on opportunities to grow profitably and delivering a superior experience to our agents and customers.
Sector
Industry
Direct Property and Casualty Insurance Carriers
Website
William Daniel DeLamaterExecutive Vice President & Chief Operating Officer
Christina Marie HoffmanSenior Vice President & Chief Risk Officer
Kristi Spencer AltshulerSenior Vice President & Chief Analytics Officer
Peers— Financial Services(7 companies)
Screen sector →| Symbol | Price | Day % | Mkt Cap↓ | P/E | Rev Grw | Margin | ELO |
|---|---|---|---|---|---|---|---|
| $16.32 | -0.55% | $598M | 9.1 | -117.1% | 811.2% | 1500 | |
| $307.65 | -1.54% | $829.7B | 14.6 | +330.7% | 2039.3% | 1502 | |
| $326.85 | -0.36% | $626.5B | 28.1 | +1134.0% | 5014.5% | 1498 | |
| $504.74 | +1.87% | $446.8B | 28.9 | +1641.6% | 4564.7% | 1488 | |
| $52.19 | -1.97% | $374.6B | 11.9 | -45.1% | 1592.6% | 1501 | |
| $188.03 | -1.13% | $298.6B | 16.2 | +1147.7% | 1466.4% | 1516 | |
| $903.27 | -2.21% | $268.0B | 15.2 | -138.4% | 1373.0% | 1515 | |
| Sector avg | — | -0.84% | — | 17.7 | +564.8% | 2408.8% | 1503 |