Donegal Group (NASDAQ:DGICA) Director Michael Kevin Callahan Sells 3,000 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) Director Michael Kevin Callahan sold 3,000 shares of the stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $19.01, for a total transaction of $57,030.00. Following the transaction, the director owned 17,708 shares in the company, valued at approximately $336,629.08. This trade represents a 14.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Donegal Group Stock Up 0.5%

Shares of DGICA stock traded up $0.10 on Friday, hitting $19.06. The company’s stock had a trading volume of 121,251 shares, compared to its average volume of 112,779. The stock has a market capitalization of $713.23 million, a price-to-earnings ratio of 10.19 and a beta of -0.03. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The firm’s fifty day moving average price is $18.66 and its 200-day moving average price is $18.15. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.40 and a quick ratio of 0.39.

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

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be issued a dividend of $0.1925 per share. The ex-dividend date of this dividend is Monday, November 2nd. 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 41.18%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership increased its position in shares of Donegal Group by 41.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after purchasing an additional 80,614 shares during the period. Renaissance Technologies LLC raised its stake in shares of Donegal Group by 5.8% in the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock valued at $6,747,000 after purchasing an additional 21,500 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Donegal Group in the second quarter worth $344,000. First Trust Advisors LP lifted its position in Donegal Group by 31.7% in the third quarter. First Trust Advisors LP now owns 74,434 shares of the insurance provider’s stock worth $1,324,000 after purchasing an additional 17,915 shares during the period. Finally, Entropy Technologies LP bought a new position in Donegal Group in the third quarter worth $301,000. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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