Insider Selling: Donegal Group Inc. (NASDAQ:DGICA) EVP Sells 12,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) EVP William Daniel Delamater sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $17.77, for a total transaction of $213,240.00. Following the completion of the transaction, the executive vice president now directly owns 1,495 shares of the company’s stock, valued at $26,566.15. This represents a 88.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Donegal Group Trading Up 0.7 %

Donegal Group stock opened at $17.94 on Thursday. The company has a 50 day moving average price of $15.32 and a 200 day moving average price of $15.35. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $18.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market capitalization of $608.09 million, a price-to-earnings ratio of 11.80 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.39. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. The company had revenue of $249.70 million during the quarter, compared to the consensus estimate of $250.61 million. Research analysts forecast that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were given a $0.1725 dividend. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 4th. This represents a $0.69 dividend on an annualized basis and a yield of 3.85%. Donegal Group’s dividend payout ratio is presently 45.39%.

Institutional Investors Weigh In On Donegal Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Donegal Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock worth $5,371,000 after buying an additional 4,933 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Donegal Group by 39.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock valued at $896,000 after purchasing an additional 17,125 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Donegal Group by 82.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock valued at $1,551,000 after purchasing an additional 47,447 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Donegal Group during the 4th quarter valued at $128,000. Finally, Bleakley Financial Group LLC bought a new position in shares of Donegal Group during the 4th quarter valued at $244,000. Hedge funds and other institutional investors own 27.96% of the company’s stock.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides 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.