Donegal Group (NASDAQ:DGICA) EVP William Daniel Delamater Sells 9,000 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) EVP William Daniel Delamater sold 9,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $17.63, for a total value of $158,670.00. Following the completion of the transaction, the executive vice president owned 2,012 shares of the company’s stock, valued at $35,471.56. This trade represents a 81.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Donegal Group Trading Down 2.2%

Shares of DGICA stock traded down $0.38 during trading hours on Friday, hitting $17.21. 18,970 shares of the company were exchanged, compared to its average volume of 117,735. The firm has a fifty day moving average of $18.80 and a 200 day moving average of $19.12. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06. Donegal Group, Inc. has a 1 year low of $16.50 and a 1 year high of $21.12. The firm has a market cap of $630.57 million, a PE ratio of 7.86 and a beta of 0.05.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, February 19th. The insurance provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). The firm had revenue of $240.14 million during the quarter, compared to analysts’ expectations of $241.10 million. Donegal Group had a return on equity of 12.99% and a net margin of 8.11%. Analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Tuesday, February 3rd were paid a $0.1825 dividend. The ex-dividend date was Tuesday, February 3rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 4.2%. Donegal Group’s dividend payout ratio (DPR) is 33.33%.

Analyst Ratings Changes

DGICA has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods dropped their price target on shares of Donegal Group from $21.00 to $19.50 and set a “market perform” rating on the stock in a research note on Friday, February 20th. Finally, Zacks Research cut shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in Donegal Group during the third quarter worth $26,000. Smartleaf Asset Management LLC lifted its position in shares of Donegal Group by 576.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after buying an additional 2,341 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Donegal Group by 477.2% in the 2nd quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after buying an additional 2,448 shares during the period. Versant Capital Management Inc grew its position in shares of Donegal Group by 79.1% during the 3rd quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock valued at $58,000 after buying an additional 1,329 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after buying an additional 2,975 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors.

About Donegal Group

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.