Donegal Group (NASDAQ:DGICA) CFO Sells $403,830.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) CFO Jeffrey Miller sold 21,000 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $19.23, for a total value of $403,830.00. Following the transaction, the chief financial officer directly owned 27,176 shares in the company, valued at $522,594.48. This trade represents a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Donegal Group Stock Performance

Shares of DGICA stock opened at $19.00 on Thursday. The firm has a market capitalization of $705.28 million, a price-to-earnings ratio of 9.84 and a beta of -0.01. The stock has a fifty day moving average of $19.01 and a 200 day moving average of $18.00. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. 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 issued its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The business had revenue of $241.12 million for the quarter, compared to the consensus estimate of $231.53 million. As a group, research analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.1925 per share. The ex-dividend date was Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 4.1%. Donegal Group’s payout ratio is currently 39.90%.

Hedge Funds Weigh In On Donegal Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings 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 valued at $29,846,000 after buying an additional 7,345 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Donegal Group by 5.8% in the 1st 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 in the last quarter. Arrowstreet Capital Limited Partnership lifted its position 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 during the period. Royce & Associates LP lifted its position in Donegal Group by 579.4% during the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock valued at $3,394,000 after acquiring an additional 144,853 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Donegal Group by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock worth $2,862,000 after acquiring an additional 9,075 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Wall Street Analyst Weigh In

DGICA has been the subject of a number of research reports. 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. Keefe, Bruyette & Woods upped their target price on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Donegal Group presently has a consensus rating of “Hold” and an average target price 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.