Donegal Group Inc. (NASDAQ:DGICA) Stock Position Cut by Keeley Teton Advisors LLC

Keeley Teton Advisors LLC decreased its stake in shares of Donegal Group Inc. (NASDAQ:DGICA) by 30.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 94,725 shares of the insurance provider’s stock after selling 41,692 shares during the period. Keeley Teton Advisors LLC’s holdings in Donegal Group were worth $1,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DGICA. KLP Kapitalforvaltning AS purchased a new position in Donegal Group in the 4th quarter worth about $68,000. SG Americas Securities LLC purchased a new position in shares of Donegal Group in the fourth quarter worth approximately $128,000. XTX Topco Ltd acquired a new stake in shares of Donegal Group during the fourth quarter valued at approximately $162,000. Private Advisor Group LLC purchased a new stake in shares of Donegal Group in the 4th quarter valued at approximately $177,000. Finally, Townsquare Capital LLC acquired a new position in Donegal Group in the 4th quarter worth approximately $195,000. 27.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their target price on Donegal Group from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th.

Insider Transactions at Donegal Group

In other Donegal Group news, EVP William Daniel Delamater sold 12,000 shares of Donegal Group stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $17.77, for a total transaction of $213,240.00. Following the sale, the executive vice president now owns 1,495 shares in the company, valued at $26,566.15. The trade was a 88.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Mutual Insurance Co Donegal purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $17.85 per share, with a total value of $267,750.00. Following the transaction, the insider now directly owns 13,219,273 shares of the company’s stock, valued at approximately $235,964,023.05. This represents a 0.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 105,908 shares of company stock valued at $1,865,086 and sold 47,119 shares valued at $845,651. Company insiders own 6.63% of the company’s stock.

Donegal Group Stock Performance

DGICA stock opened at $18.15 on Wednesday. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $19.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market cap of $646.85 million, a P/E ratio of 11.94 and a beta of -0.05. The firm has a 50 day simple moving average of $17.55 and a 200 day simple moving average of $16.10.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.39. The business had revenue of $249.70 million for the quarter, compared to the consensus estimate of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. Research analysts anticipate that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group 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.