Jeffrey Dean Miller Sells 21,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) CFO Jeffrey Miller sold 21,000 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $19.23, for a total transaction of $403,830.00. Following the completion of the sale, the chief financial officer directly owned 27,176 shares in the company, valued at approximately $522,594.48. The trade was a 43.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Donegal Group Stock Performance

Donegal Group stock opened at $19.45 on Wednesday. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market capitalization of $1.28 billion, a P/E ratio of 10.08 and a beta of -0.01. The stock has a 50-day simple moving average of $19.01 and a 200 day simple moving average of $17.99.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.11. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The firm had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued 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 payout ratio is presently 39.90%.

Institutional Investors Weigh In On Donegal Group

Several institutional investors have recently made changes to their positions in DGICA. Royce & Associates LP grew its position in Donegal Group by 579.4% during the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after buying an additional 144,853 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Donegal Group by 41.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after acquiring an additional 80,614 shares in the last quarter. Los Angeles Capital Management LLC lifted its position 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 valued at $1,245,000 after acquiring an additional 40,078 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Donegal Group by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock valued at $29,846,000 after acquiring an additional 7,345 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Donegal Group by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock worth $2,862,000 after purchasing an additional 9,075 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. Keefe, Bruyette & Woods increased 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. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.00.

About Donegal Group

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of independent insurance agents. The company operates through regional insurance subsidiaries affiliated with Donegal Mutual Insurance Company and serves individuals, families, farms, and businesses.

Its personal insurance products generally include automobile, homeowners, dwelling fire, renters, and farmowners coverage. Donegal Group also offers commercial insurance, including businessowners policies, commercial automobile, commercial package, workers’ compensation, general liability, and related coverages.