Donegal Group (NASDAQ:DGICA) VP Christina Marie Hoffman Sells 18,000 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) VP Christina Marie Hoffman sold 18,000 shares of Donegal Group stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $19.67, for a total value of $354,060.00. Following the sale, the vice president directly owned 4,655 shares of the company’s stock, valued at $91,563.85. This represents a 79.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Donegal Group Stock Down 1.5%

Shares of NASDAQ DGICA opened at $19.24 on Friday. The business has a 50-day moving average of $18.40 and a 200-day moving average of $17.90. The firm has a market capitalization of $712.84 million, a price-to-earnings ratio of 9.97 and a beta of -0.01. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06.

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

Donegal Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid 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 4.0%. Donegal Group’s dividend payout ratio (DPR) is 39.90%.

Wall Street Analyst Weigh In

Several research firms recently commented on DGICA. Weiss Ratings raised shares of Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods upped their price target 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. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Hedge Funds Weigh In On Donegal Group

Several hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its holdings in Donegal Group by 576.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 2,341 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Donegal Group by 422.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after buying an additional 2,975 shares during the period. IFP Advisors Inc raised its stake in Donegal Group by 1,377.6% in the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after buying an additional 3,513 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Donegal Group by 31.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after buying an additional 896 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Donegal Group by 443.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after buying an additional 4,022 shares during the period. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.