Donegal Group (NASDAQ:DGICA) Director Sells $87,255.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) Director Jon Mahan sold 4,500 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $19.39, for a total transaction of $87,255.00. Following the completion of the transaction, the director directly owned 10,688 shares of the company’s stock, valued at $207,240.32. The trade was a 29.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Donegal Group Price Performance

Shares of DGICA opened at $18.73 on Friday. The company’s fifty day moving average price is $18.70 and its 200-day moving average price is $18.14. Donegal Group, Inc. has a 1-year low of $16.11 and a 1-year high of $21.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market capitalization of $695.26 million, a PE ratio of 10.02 and a beta of -0.03.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Donegal Group had a return on equity of 10.49% and a net margin of 7.24%. The business had revenue of $237.66 million for the quarter, compared to analyst estimates of $214.12 million. On average, equities research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, November 2nd. Donegal Group’s dividend payout ratio is 41.18%.

Hedge Funds Weigh In On Donegal Group

A number of large investors have recently added to or reduced their stakes in DGICA. Dimensional Fund Advisors LP raised its position in shares of Donegal Group by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock worth $29,846,000 after purchasing an additional 7,345 shares during the last quarter. Renaissance Technologies LLC boosted its position in Donegal Group by 5.8% during the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock worth $6,747,000 after acquiring an additional 21,500 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Donegal Group by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after acquiring an additional 80,614 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Donegal Group by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock valued at $2,862,000 after acquiring an additional 9,075 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in Donegal Group by 3.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider’s stock valued at $1,710,000 after acquiring an additional 3,264 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DGICA has been the subject of several recent research reports. Zacks Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.00.

About Donegal Group

Donegal Group Inc (NASDAQ: DGICA) is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.

Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers’ compensation coverage, along with other specialized property and casualty policies.

Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.