Donegal Group (NASDAQ:DGICA) Director Sells 4,500 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) Director Barry Craig Huber sold 4,500 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $19.43, for a total value of $87,435.00. Following the completion of the transaction, the director directly owned 16,567 shares in the company, valued at approximately $321,896.81. The trade was a 21.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Donegal Group Stock Up 0.4%

DGICA opened at $19.42 on Friday. The company has a market capitalization of $720.87 million, a PE ratio of 10.06 and a beta of -0.01. 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, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The business has a 50-day moving average of $18.97 and a 200-day moving average of $17.91.

Donegal Group (NASDAQ:DGICA) last announced its quarterly 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. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The business had revenue of $241.12 million during the quarter, compared to analysts’ expectations of $231.53 million. Equities research analysts forecast that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s payout ratio is currently 39.90%.

Institutional Investors Weigh In On Donegal Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in Donegal Group by 139.8% in the 1st quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock worth $774,000 after purchasing an additional 22,978 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Donegal Group by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock valued at $2,155,000 after purchasing an additional 8,004 shares during the last quarter. Empowered Funds LLC raised its position in shares of Donegal Group by 1.9% in the first quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock valued at $1,802,000 after purchasing an additional 1,696 shares during the period. Jane Street Group LLC bought a new position in shares of Donegal Group in the first quarter valued at approximately $689,000. Finally, Rhumbline Advisers lifted its stake in shares of Donegal Group by 22.3% in the second quarter. Rhumbline Advisers now owns 32,824 shares of the insurance provider’s stock worth $657,000 after buying an additional 5,981 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Donegal Group Company Profile

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.