Donegal Group (NASDAQ:DGICA) CAO David Benjamin Bawel Sells 8,326 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) CAO David Bawel sold 8,326 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $19.28, for a total transaction of $160,525.28. Following the completion of the transaction, the chief accounting officer directly owned 22,331 shares of the company’s stock, valued at approximately $430,541.68. The trade was a 27.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Donegal Group Trading Up 0.5%

Shares of DGICA stock opened at $19.36 on Friday. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The company has a 50 day moving average price of $19.00 and a 200 day moving average price of $17.96. The stock has a market capitalization of $1.28 billion, a P/E ratio of 10.03 and a beta of -0.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last released 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. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The company had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Equities research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Announces Dividend

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 dividend on an annualized basis and a dividend yield of 4.0%. Donegal Group’s dividend payout ratio is currently 39.90%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DGICA. Smartleaf Asset Management LLC increased 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 valued at $55,000 after purchasing an additional 2,341 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Donegal Group by 422.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 2,975 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Donegal Group by 1,377.6% during the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after purchasing an additional 3,513 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Donegal Group by 31.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after buying an additional 896 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Donegal Group by 443.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after buying an additional 4,022 shares during the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DGICA. Keefe, Bruyette & Woods lifted their target price on Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a 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 equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.