Insider Selling: Donegal Group (NASDAQ:DGICA) VP Sells 6,000 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) VP Kristi Altshuler sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $19.01, for a total value of $114,060.00. Following the transaction, the vice president directly owned 6,000 shares in the company, valued at approximately $114,060. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Donegal Group Stock Performance

Shares of DGICA stock opened at $18.95 on Thursday. The stock’s 50-day moving average price is $18.68 and its 200 day moving average price is $18.15. The company has a quick ratio of 0.39, a current ratio of 0.40 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $703.42 million, a PE ratio of 10.13 and a beta of -0.03. Donegal Group, Inc. has a 52-week low of $16.11 and a 52-week high of $21.06.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Donegal Group had a return on equity of 10.45% and a net margin of 7.24%. The company had revenue of $237.66 million during the quarter, compared to analysts’ expectations of $214.12 million. As a group, equities research analysts forecast that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Announces Dividend

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Donegal Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in DGICA. Nisa Investment Advisors LLC raised its stake in shares of Donegal Group by 214.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider’s stock worth $105,000 after buying an additional 4,016 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Donegal Group by 27.8% during the 2nd quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock worth $174,000 after purchasing an additional 2,004 shares in the last quarter. Virtus Advisers LLC boosted its position in shares of Donegal Group by 16.8% during the 3rd quarter. Virtus Advisers LLC now owns 9,866 shares of the insurance provider’s stock worth $176,000 after purchasing an additional 1,417 shares in the last quarter. State of Wyoming acquired a new position in shares of Donegal Group during the 3rd quarter worth $177,000. Finally, Amundi acquired a new position in shares of Donegal Group during the 1st quarter worth $206,000. Institutional investors and hedge funds 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 through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.