Sowell Financial Services LLC Acquires 667 Shares of Donegal Group Inc. (NASDAQ:DGICA)

Sowell Financial Services LLC raised its holdings in shares of Donegal Group Inc. (NASDAQ:DGICA) by 35.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,565 shares of the insurance provider’s stock after purchasing an additional 667 shares during the period. Sowell Financial Services LLC’s holdings in Donegal Group were worth $39,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DGICA. Fieldpoint Private Securities LLC bought a new position in Donegal Group in the 1st quarter worth about $80,000. Engineers Gate Manager LP bought a new position in shares of Donegal Group in the fourth quarter worth approximately $146,000. Credit Suisse AG grew its holdings in shares of Donegal Group by 40.6% during the fourth quarter. Credit Suisse AG now owns 14,065 shares of the insurance provider’s stock valued at $198,000 after buying an additional 4,062 shares during the last quarter. Ancora Advisors LLC increased its position in shares of Donegal Group by 15.9% during the fourth quarter. Ancora Advisors LLC now owns 16,779 shares of the insurance provider’s stock valued at $236,000 after acquiring an additional 2,300 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Donegal Group by 15.5% in the 4th quarter. Rhumbline Advisers now owns 17,564 shares of the insurance provider’s stock valued at $247,000 after acquiring an additional 2,361 shares in the last quarter. Hedge funds and other institutional investors own 31.09% of the company’s stock.

DGICA opened at $15.21 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.08. The company has a market cap of $469.44 million, a PE ratio of 7.46 and a beta of 0.07. The company’s 50-day moving average is $15.39. Donegal Group Inc. has a 52-week low of $12.99 and a 52-week high of $16.48.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Sunday, April 25th. The insurance provider reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.06). Donegal Group had a net margin of 7.54% and a return on equity of 9.22%. The company had revenue of $195.39 million for the quarter, compared to the consensus estimate of $196.70 million. Research analysts forecast that Donegal Group Inc. will post 0.95 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 17th. Stockholders of record on Monday, May 3rd were paid a $0.16 dividend. This is an increase from Donegal Group’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Friday, April 30th. Donegal Group’s dividend payout ratio (DPR) is 36.36%.

In other Donegal Group news, VP Francis Joseph Haefner, Jr. sold 23,992 shares of the stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $15.20, for a total value of $364,678.40. Following the transaction, the vice president now directly owns 16,303 shares in the company, valued at $247,805.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard D. Wampler II sold 12,000 shares of Donegal Group stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $15.51, for a total transaction of $186,120.00. Following the transaction, the director now owns 20,602 shares in the company, valued at approximately $319,537.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,230 shares of company stock valued at $842,725. 10.03% of the stock is owned by company insiders.

Separately, Zacks Investment Research upgraded Donegal Group from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research note on Thursday, April 15th.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides personal and commercial lines of 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, and Commercial Lines of Insurance.

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Institutional Ownership by Quarter for Donegal Group (NASDAQ:DGICA)

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