Donegal Group (NASDAQ:DGICA) Insider Sells $461,520.00 in Stock

by · The Markets Daily

Donegal Group, Inc. (NASDAQ:DGICA – Get Free Report) insider Kevin Burke sold 24,000 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $19.23, for a total value of $461,520.00. Following the completion of the sale, the insider owned 13,870 shares in the company, valued at $266,720.10. This represents a 63.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Donegal Group Price Performance

NASDAQ:DGICA opened at $19.00 on Thursday. Donegal Group, Inc. has a one year low of $16.11 and a one year high of $21.06. The company has a market cap of $705.28 million, a P/E ratio of 9.84 and a beta of -0.01. The firm’s fifty day moving average price is $19.01 and its two-hundred day moving average price is $18.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.

Donegal Group (NASDAQ:DGICA – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.11. The company had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. Equities analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s dividend payout ratio is currently 39.90%.

Institutional Trading of Donegal Group

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Donegal Group by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock worth $29,846,000 after purchasing an additional 7,345 shares during the period. Renaissance Technologies LLC grew its stake in Donegal Group by 5.8% during the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock worth $6,747,000 after buying an additional 21,500 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Donegal Group by 41.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after buying an additional 80,614 shares during the period. Royce & Associates LP raised its position in shares of Donegal Group by 579.4% in the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock valued at $3,394,000 after buying an additional 144,853 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Donegal Group by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock valued at $2,862,000 after purchasing an additional 9,075 shares in the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. Keefe, Bruyette & Woods increased their target price on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.00.

Read Our Latest Stock Report on DGICA

Donegal Group Company Profile

(Get Free Report)

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of independent insurance agents. The company operates through regional insurance subsidiaries affiliated with Donegal Mutual Insurance Company and serves individuals, families, farms, and businesses.

Its personal insurance products generally include automobile, homeowners, dwelling fire, renters, and farmowners coverage. Donegal Group also offers commercial insurance, including businessowners policies, commercial automobile, commercial package, workers’ compensation, general liability, and related coverages.

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