Donegal Group Inc. (NASDAQ:DGICA) EVP Sells $172,006.88 in Stock

Donegal Group Inc. (NASDAQ:DGICA) EVP William Daniel Delamater sold 8,696 shares of Donegal Group stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $19.78, for a total value of $172,006.88. Following the completion of the transaction, the executive vice president now owns 1,495 shares in the company, valued at approximately $29,571.10. This represents a 85.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

William Daniel Delamater also recently made the following trade(s):

• On Wednesday, May 21st, William Daniel Delamater sold 304 shares of Donegal Group stock. The shares were sold at an average price of $20.50, for a total value of $6,232.00.
• On Tuesday, March 4th, William Daniel Delamater sold 12,000 shares of Donegal Group stock. The shares were sold at an average price of $17.77, for a total value of $213,240.00.

Donegal Group Stock Performance

Shares of DGICA stock opened at $20.01 on Thursday. The business’s 50-day moving average price is $19.22 and its 200-day moving average price is $17.08. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $21.12. The firm has a market capitalization of $722.30 million, a price-to-earnings ratio of 13.16 and a beta of -0.05. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

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

Donegal Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.65%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, May 1st. Donegal Group’s dividend payout ratio (DPR) is presently 35.61%.

Wall Street Analyst Weigh In

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

Institutional Trading of Donegal Group

A number of hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in shares of Donegal Group by 40.9% during the first quarter. Acadian Asset Management LLC now owns 158,823 shares of the insurance provider’s stock valued at $3,115,000 after purchasing an additional 46,095 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Donegal Group during the first quarter valued at about $689,000. Empowered Funds LLC lifted its stake 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 worth $1,802,000 after acquiring an additional 1,696 shares during the period. Ascent Group LLC acquired a new position in shares of Donegal Group in the first quarter worth approximately $424,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Donegal Group by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock worth $2,155,000 after acquiring an additional 8,004 shares during the period. 27.96% of the stock is owned by institutional investors and hedge funds.

Donegal Group Company Profile

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.