Donegal Group (NASDAQ:DGICA) Director Sells $87,435.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) Director Barry Craig Huber sold 4,500 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $19.43, for a total value of $87,435.00. Following the sale, the director directly owned 16,567 shares in the company, valued at approximately $321,896.81. This represents a 21.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Donegal Group Stock Performance

NASDAQ:DGICA opened at $19.45 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The business’s 50-day simple moving average is $18.99 and its 200-day simple moving average is $17.92. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The stock has a market capitalization of $1.28 billion, a PE ratio of 10.08 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. The business had revenue of $241.12 million during the quarter, compared to analysts’ expectations of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. Sell-side analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.1925 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. Donegal Group’s dividend payout ratio is currently 39.90%.

Institutional Investors Weigh In On Donegal Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP grew its holdings in shares of Donegal Group by 579.4% in the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock valued at $3,394,000 after acquiring an additional 144,853 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Donegal Group by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock worth $4,746,000 after purchasing an additional 80,614 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Donegal Group by 145.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 67,726 shares of the insurance provider’s stock worth $1,245,000 after purchasing an additional 40,078 shares in the last quarter. Strs Ohio boosted its holdings in shares of Donegal Group by 3.7% in the 4th quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock valued at $565,000 after buying an additional 1,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Donegal Group by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock worth $29,846,000 after buying an additional 7,345 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Donegal Group has a consensus rating of “Hold” and a consensus target price of $20.00.

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.