Donegal Group, Inc. (DGICA) To Go Ex-Dividend on November 2nd

Donegal Group, Inc. (NASDAQ:DGICA) declared a quarterly dividend on Thursday, October 15th. Investors of record on Monday, November 2nd will be given a dividend of $0.1925 per share by the insurance provider on Monday, November 16th. This represents a $0.77 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Monday, November 2nd.

Donegal Group has a dividend payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Donegal Group to earn $1.85 per share next year, which means the company should continue to be able to cover its $0.77 annual dividend with an expected future payout ratio of 41.6%.

Donegal Group Stock Performance

Shares of NASDAQ DGICA traded up $0.17 during midday trading on Friday, hitting $18.68. 61,842 shares of the company’s stock were exchanged, compared to its average volume of 116,866. Donegal Group has a 12 month low of $16.11 and a 12 month high of $21.06. The firm has a market capitalization of $693.40 million, a PE ratio of 9.68 and a beta of -0.03. The company’s 50 day moving average price is $18.70 and its 200 day moving average price is $18.17. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICA) last announced its earnings results 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. The firm had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. As a group, analysts predict that Donegal Group will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Donegal Group news, SVP Noland Rone Deas, Jr. sold 24,000 shares of Donegal Group stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $19.47, for a total transaction of $467,280.00. Following the completion of the transaction, the senior vice president owned 3,523 shares of the company’s stock, valued at $68,592.81. The trade was a 87.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Mutual Insurance Co Donegal bought 54,725 shares of the stock in a transaction on Friday, September 11th. The stock was purchased at an average price of $19.23 per share, for a total transaction of $1,052,361.75. Following the completion of the purchase, the insider directly owned 14,387,128 shares in the company, valued at approximately $276,664,471.44. This represents a 0.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 220,437 shares of company stock valued at $4,218,669 and have sold 111,108 shares valued at $2,153,119. Company insiders own 2.75% of the company’s stock.

Institutional Investors Weigh In On Donegal Group

Hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in Donegal Group by 27.8% in the second quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock worth $174,000 after buying an additional 2,004 shares in the last quarter. Allianz Asset Management GmbH bought a new position in Donegal Group during the 2nd quarter valued at approximately $220,000. Amundi purchased a new position in Donegal Group in the first quarter worth about $206,000. QRG Capital Management Inc. purchased a new position in shares of Donegal Group in the first quarter worth $223,000. Finally, Ancora Advisors LLC bought a new position in Donegal Group during the 2nd quarter valued at about $273,000. Institutional investors own 27.96% of the company’s stock.

About Donegal Group

Donegal Group Inc is an insurance holding company that provides property and casualty insurance products to individuals and businesses in the United States. The company operates primarily through its insurance subsidiaries and markets its policies through a network of independent insurance agents.

Its personal insurance offerings include automobile, homeowners, renters, and other residential coverage. Donegal Group also provides commercial products such as commercial automobile, workers’ compensation, businessowners, commercial package, and other property and liability insurance policies.