Insider Selling: Donegal Group (NASDAQ:DGICA) VP Sells $114,060.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) VP Kristi Altshuler sold 6,000 shares of Donegal Group stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $19.01, for a total transaction of $114,060.00. Following the completion of the sale, the vice president directly owned 6,000 shares in the company, valued at $114,060. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Donegal Group Stock Performance

Donegal Group stock traded up $0.10 during trading on Friday, hitting $19.06. The stock had a trading volume of 121,251 shares, compared to its average volume of 112,779. The stock’s 50 day moving average is $18.66 and its two-hundred day moving average is $18.15. Donegal Group, Inc. has a 1 year low of $16.11 and a 1 year high of $21.06. The stock has a market cap of $713.23 million, a price-to-earnings ratio of 10.19 and a beta of -0.03. The company has a quick ratio of 0.39, a current ratio of 0.40 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $237.66 million during the quarter, compared to the consensus estimate of $214.12 million. Donegal Group had a return on equity of 10.45% and a net margin of 7.24%. As a group, analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be paid a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Monday, November 2nd. Donegal Group’s payout ratio is currently 41.18%.

Institutional Trading of Donegal Group

Institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its stake in Donegal Group by 214.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 4,016 shares during the period. IFP Advisors Inc increased its position in shares of Donegal Group by 27.8% during the second quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock valued at $174,000 after buying an additional 2,004 shares during the period. Virtus Advisers LLC increased its position in shares of Donegal Group by 16.8% during the third quarter. Virtus Advisers LLC now owns 9,866 shares of the insurance provider’s stock valued at $176,000 after buying an additional 1,417 shares during the period. State of Wyoming bought a new stake in shares of Donegal Group during the third quarter valued at about $177,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Donegal Group in the second quarter worth about $220,000. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DGICA shares. Zacks Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. Weiss Ratings upgraded shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.00.

Donegal Group Company Profile

Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.