Insider Selling: Donegal Group (NASDAQ:DGICA) CAO Sells $160,525.28 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) CAO David Bawel sold 8,326 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $19.28, for a total value of $160,525.28. Following the transaction, the chief accounting officer owned 22,331 shares in the company, valued at $430,541.68. The trade was a 27.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Donegal Group Price Performance

Shares of DGICA stock opened at $19.36 on Monday. Donegal Group, Inc. has a twelve month low of $16.11 and a twelve month high of $21.06. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 10.03 and a beta of -0.01. The stock has a fifty day simple moving average of $19.00 and a two-hundred day simple moving average of $17.97. 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 (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.42 by $0.11. The firm had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. On average, analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.1925 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.77 dividend on an annualized basis and a yield of 4.0%. Donegal Group’s dividend payout ratio (DPR) is 39.90%.

Hedge Funds Weigh In On Donegal Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in shares of Donegal Group by 576.6% during the fourth 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 boosted its position in shares of Donegal Group by 422.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 2,975 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Donegal Group by 31.6% during the 4th 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 last quarter. IFP Advisors Inc grew its stake in Donegal Group by 1,377.6% during the 4th 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 during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Donegal Group by 443.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after buying an additional 4,022 shares in the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.00.

About Donegal Group

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of independent insurance agents. The company operates through regional insurance subsidiaries affiliated with Donegal Mutual Insurance Company and serves individuals, families, farms, and businesses.

Its personal insurance products generally include automobile, homeowners, dwelling fire, renters, and farmowners coverage. Donegal Group also offers commercial insurance, including businessowners policies, commercial automobile, commercial package, workers’ compensation, general liability, and related coverages.