Donegal Group, Inc. $DGICA Stock Position Raised by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its stake in Donegal Group, Inc. (NASDAQ:DGICA) by 145.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 67,726 shares of the insurance provider’s stock after acquiring an additional 40,078 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Donegal Group were worth $1,245,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in shares of Donegal Group by 139.8% during the first quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock valued at $774,000 after purchasing an additional 22,978 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Donegal Group by 7.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock worth $2,155,000 after purchasing an additional 8,004 shares in the last quarter. Empowered Funds LLC increased its stake in Donegal Group by 1.9% in the 1st quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock worth $1,802,000 after purchasing an additional 1,696 shares in the last quarter. Jane Street Group LLC acquired a new stake in Donegal Group during the 1st quarter worth about $689,000. Finally, Rhumbline Advisers raised its holdings in Donegal Group by 22.3% during the 2nd 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 period. 27.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average cost of $16.62 per share, with a total value of $166,200.00. Following the completion of the transaction, the insider directly owned 14,117,109 shares of the company’s stock, valued at $234,626,351.58. This trade represents a 0.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 119,905 shares of company stock valued at $2,048,047 over the last ninety days. 2.75% of the stock is owned by corporate insiders.

Donegal Group Stock Performance

Shares of Donegal Group stock opened at $17.48 on Thursday. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock has a market cap of $647.63 million, a PE ratio of 9.77 and a beta of 0.01. The business has a fifty day simple moving average of $17.24 and a 200-day simple moving average of $18.28.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.08). The business had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. On average, sell-side analysts anticipate that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a $0.1925 dividend. The ex-dividend date was Friday, May 1st. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.4%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.18. Donegal Group’s dividend payout ratio is currently 43.02%.

Wall Street Analyst Weigh In

DGICA has been the subject of a number of analyst reports. Weiss Ratings cut shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods cut their price target on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.00.

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.