Donegal Group Inc. (NASDAQ:DGICA) CAO Sells $178,470.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) CAO David Benjamin Bawel sold 9,000 shares of Donegal Group stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $19.83, for a total value of $178,470.00. Following the completion of the sale, the chief accounting officer now directly owns 20,417 shares in the company, valued at $404,869.11. This represents a 30.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Donegal Group Price Performance

Shares of NASDAQ:DGICA opened at $19.78 on Wednesday. The business’s 50 day simple moving average is $18.76 and its 200-day simple moving average is $16.72. The firm has a market capitalization of $704.94 million, a price-to-earnings ratio of 13.01 and a beta of -0.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $20.51.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.34 by $0.38. The business had revenue of $245.57 million for the quarter, compared to analyst estimates of $248.73 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. As a group, equities analysts forecast that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a $0.1825 dividend. The ex-dividend date is Thursday, May 1st. This represents a $0.73 dividend on an annualized basis and a yield of 3.69%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is presently 35.61%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their price target on Donegal Group from $17.00 to $18.00 and gave the stock a “market perform” rating in a research note on Friday, April 25th.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in Donegal Group by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,804,968 shares of the insurance provider’s stock valued at $27,923,000 after acquiring an additional 27,213 shares during the last quarter. Vanguard Group Inc. raised its holdings in Donegal Group by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 946,432 shares of the insurance provider’s stock valued at $18,578,000 after acquiring an additional 19,174 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Donegal Group by 29.5% in the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock valued at $6,638,000 after acquiring an additional 97,795 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Donegal Group by 13.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 267,692 shares of the insurance provider’s stock valued at $5,255,000 after acquiring an additional 31,946 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Donegal Group by 0.4% in the 4th quarter. Wells Fargo & Company MN now owns 223,593 shares of the insurance provider’s stock valued at $3,459,000 after acquiring an additional 897 shares during the last quarter. 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.