Donegal Group (NASDAQ:DGICA) SVP Sells $467,280.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) SVP Noland Rone Deas, Jr. sold 24,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.47, for a total value of $467,280.00. Following the completion of the sale, the senior vice president owned 3,523 shares in the company, valued at approximately $68,592.81. This trade represents a 87.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Donegal Group Stock Down 1.5%

NASDAQ:DGICA opened at $19.24 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market cap of $712.84 million, a PE ratio of 9.97 and a beta of -0.01. Donegal Group, Inc. has a 52-week low of $16.11 and a 52-week high of $21.06. The stock has a 50-day simple moving average of $18.40 and a 200 day simple moving average of $17.90.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.42 by $0.11. The firm had revenue of $241.12 million for the quarter, compared to analysts’ expectations of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. On average, sell-side analysts expect that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.1925 per share. The ex-dividend date is Friday, July 31st. This represents a $0.77 annualized dividend and a yield of 4.0%. Donegal Group’s dividend payout ratio is presently 39.90%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Royce & Associates LP boosted its position in Donegal Group by 579.4% during the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after purchasing an additional 144,853 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Donegal Group by 117.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock worth $4,718,000 after buying an additional 127,470 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of Donegal Group by 139.8% during the 3rd quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock worth $2,956,000 after buying an additional 88,878 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Donegal Group by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock worth $4,746,000 after buying an additional 80,614 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in Donegal Group by 157.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 131,574 shares of the insurance provider’s stock valued at $2,635,000 after buying an additional 80,395 shares during the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DGICA has been the topic of several analyst reports. Weiss Ratings raised shares of Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their target price on Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.00.

About Donegal Group

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.