Donegal Group (NASDAQ:DGICA) Sets New 1-Year High – Here’s What Happened

Donegal Group Inc. (NASDAQ:DGICA) shares hit a new 52-week high on Wednesday . The company traded as high as $18.95 and last traded at $18.82, with a volume of 37493 shares traded. The stock had previously closed at $18.33.

Donegal Group Price Performance

The stock has a market capitalization of $668.41 million, a P/E ratio of 12.38 and a beta of -0.04. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The company’s 50-day simple moving average is $16.20 and its 200-day simple moving average is $15.67.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.39. The company had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. As a group, sell-side analysts expect that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Insider Transactions at Donegal Group

In other Donegal Group news, SVP David Wayne Sponic sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $17.99, for a total transaction of $107,940.00. Following the completion of the sale, the senior vice president now directly owns 2,006 shares in the company, valued at $36,087.94. This trade represents a 74.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Mutual Insurance Co Donegal bought 12,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was purchased at an average cost of $16.49 per share, for a total transaction of $197,880.00. Following the transaction, the insider now directly owns 13,164,372 shares of the company’s stock, valued at $217,080,494.28. The trade was a 0.09 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 105,908 shares of company stock worth $1,865,086 and sold 47,119 shares worth $845,651. 6.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Donegal Group

Several hedge funds have recently added to or reduced their stakes in DGICA. KLP Kapitalforvaltning AS acquired a new stake in shares of Donegal Group during the fourth quarter worth $68,000. SG Americas Securities LLC bought a new position in Donegal Group during the fourth quarter worth about $128,000. BNP Paribas Financial Markets raised its stake in Donegal Group by 117.2% in the 4th quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock worth $130,000 after purchasing an additional 4,544 shares in the last quarter. XTX Topco Ltd bought a new stake in Donegal Group in the 4th quarter valued at about $162,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Donegal Group during the 4th quarter worth approximately $173,000. 27.96% of the stock is owned by institutional investors and hedge funds.

About Donegal Group

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.