Noland Rone Deas, Jr. Sells 24,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) SVP Noland Rone Deas, Jr. sold 24,000 shares of Donegal Group stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.47, for a total transaction of $467,280.00. Following the transaction, the senior vice president directly owned 3,523 shares in the company, valued at approximately $68,592.81. This represents a 87.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Donegal Group Price Performance

DGICA opened at $19.53 on Friday. The stock has a market cap of $723.59 million, a P/E ratio of 10.12 and a beta of -0.01. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $18.35 and a 200 day simple moving average of $17.89.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, topping 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. On average, research analysts expect 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 Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.1925 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 3.9%. Donegal Group’s dividend payout ratio is currently 39.90%.

Institutional Trading of Donegal Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its position in Donegal Group by 139.8% during the first quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock valued at $774,000 after purchasing an additional 22,978 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Donegal Group by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock worth $2,155,000 after purchasing an additional 8,004 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Donegal Group by 1.9% during the 1st quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock worth $1,802,000 after purchasing an additional 1,696 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Donegal Group during the 1st quarter worth approximately $689,000. Finally, Rhumbline Advisers boosted its holdings in shares of Donegal Group by 22.3% in the 2nd quarter. Rhumbline Advisers now owns 32,824 shares of the insurance provider’s stock valued at $657,000 after buying an additional 5,981 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Donegal Group has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Donegal Group Company Profile

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.