Insider Buying: Donegal Group Inc. (DGICA) Director Acquires 3,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) Director Jack Lee Hess purchased 3,000 shares of the business’s stock in a transaction dated Thursday, November 8th. The shares were acquired at an average price of $13.71 per share, for a total transaction of $41,130.00. Following the acquisition, the director now owns 11,963 shares of the company’s stock, valued at approximately $164,012.73. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NASDAQ:DGICA opened at $13.82 on Friday. The firm has a market cap of $388.43 million, a PE ratio of 46.07 and a beta of 0.39. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.15. Donegal Group Inc. has a 52 week low of $13.02 and a 52 week high of $18.25.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Tuesday, October 30th. The insurance provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). The business had revenue of $196.44 million for the quarter, compared to analyst estimates of $195.80 million. Donegal Group had a negative return on equity of 4.16% and a negative net margin of 2.65%. Equities analysts anticipate that Donegal Group Inc. will post -0.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be issued a $0.1425 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $0.57 annualized dividend and a yield of 4.12%. Donegal Group’s payout ratio is 190.00%.

A number of equities analysts have recently commented on DGICA shares. BidaskClub lowered shares of Donegal Group from a “hold” rating to a “sell” rating in a report on Thursday, July 19th. Boenning Scattergood reiterated a “hold” rating on shares of Donegal Group in a report on Tuesday, July 31st. Zacks Investment Research upgraded shares of Donegal Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 18th. Finally, ValuEngine upgraded shares of Donegal Group from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $18.00.

Hedge funds have recently added to or reduced their stakes in the stock. Ramsey Quantitative Systems lifted its holdings in Donegal Group by 115.0% in the third quarter. Ramsey Quantitative Systems now owns 7,720 shares of the insurance provider’s stock valued at $110,000 after buying an additional 4,129 shares during the period. Citadel Advisors LLC acquired a new position in Donegal Group in the second quarter valued at $213,000. Allianz Asset Management GmbH lifted its holdings in Donegal Group by 104.8% in the first quarter. Allianz Asset Management GmbH now owns 150,687 shares of the insurance provider’s stock valued at $2,381,000 after buying an additional 77,097 shares during the period. TCW Group Inc. lifted its holdings in Donegal Group by 9.6% in the second quarter. TCW Group Inc. now owns 180,998 shares of the insurance provider’s stock valued at $2,463,000 after buying an additional 15,881 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its holdings in Donegal Group by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 290,172 shares of the insurance provider’s stock valued at $3,949,000 after buying an additional 4,112 shares during the period. Institutional investors and hedge funds own 31.25% of the company’s stock.

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Donegal Group Company Profile

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, Commercial Lines of Insurance, and Investment in DFSC.

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