Insider Selling: Donegal Group (NASDAQ:DGICA) VP Sells $44,499.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) VP Vincent Viozzi sold 2,282 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $19.50, for a total value of $44,499.00. Following the completion of the sale, the vice president owned 5,861 shares of the company’s stock, valued at $114,289.50. This represents a 28.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Donegal Group Price Performance

Shares of NASDAQ:DGICA opened at $19.45 on Monday. The firm has a market capitalization of $1.28 billion, a PE ratio of 10.08 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 1-year low of $16.11 and a 1-year high of $21.06. The business’s 50 day moving average is $18.99 and its 200-day moving average is $17.92.

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

Donegal Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DGICA. Keefe, Bruyette & Woods upped their target price 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 Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Institutional Investors Weigh In On Donegal Group

Institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in Donegal Group by 1,721.1% in the second quarter. California State Teachers Retirement System now owns 278,204 shares of the insurance provider’s stock valued at $5,247,000 after buying an additional 262,927 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Donegal Group by 579.4% during the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after buying an additional 144,853 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Donegal Group by 117.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock worth $4,718,000 after buying an additional 127,470 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Donegal Group by 139.8% in the third quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock valued at $2,956,000 after acquiring an additional 88,878 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Donegal Group by 41.2% in the first 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 during the last quarter. Institutional investors and hedge funds 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.