Donegal Group (NASDAQ:DGICA) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Donegal Group, Inc. (NASDAQ:DGICA) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $19.03 and traded as high as $19.41. Donegal Group shares last traded at $18.98, with a volume of 124,258 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DGICA shares. Keefe, Bruyette & Woods lifted their price objective on Donegal Group from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Tuesday, January 6th. Zacks Research cut Donegal Group from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Donegal Group Trading Down 0.9%

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market capitalization of $695.43 million, a PE ratio of 7.84 and a beta of 0.04. The business’s 50-day moving average price is $19.61 and its 200-day moving average price is $19.03.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd will be given a $0.1825 dividend. The ex-dividend date is Tuesday, February 3rd. This represents a $0.73 dividend on an annualized basis and a yield of 3.8%. Donegal Group’s dividend payout ratio (DPR) is presently 30.17%.

Insiders Place Their Bets

In related news, Director Kevin Michael Sr Kraft, Sr. sold 4,500 shares of Donegal Group stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $20.02, for a total transaction of $90,090.00. Following the sale, the director owned 13,436 shares of the company’s stock, valued at $268,988.72. The trade was a 25.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Mutual Insurance Co Donegal acquired 22,819 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was purchased at an average cost of $20.05 per share, with a total value of $457,520.95. Following the completion of the transaction, the insider owned 13,913,704 shares in the company, valued at $278,969,765.20. The trade was a 0.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 247,529 shares of company stock valued at $4,796,693 and have sold 22,574 shares valued at $453,249. 6.63% of the stock is owned by corporate insiders.

Institutional Trading of Donegal Group

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its stake in Donegal Group by 139.8% during the 1st 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 period. Goldman Sachs Group Inc. lifted its position in Donegal Group by 7.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock worth $2,155,000 after buying an additional 8,004 shares in the last quarter. Empowered Funds LLC boosted 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 valued at $1,802,000 after buying an additional 1,696 shares during the period. Jane Street Group LLC purchased a new position in shares of Donegal Group during the 1st quarter valued at $689,000. Finally, CWM LLC increased its stake in shares of Donegal Group by 21.9% in the second quarter. CWM LLC now owns 6,293 shares of the insurance provider’s stock worth $126,000 after acquiring an additional 1,130 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.

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.