Insider Selling: Donegal Group Inc. (NASDAQ:DGICA) Director Sells $70,650.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) Director Barry C. Huber sold 4,500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $15.70, for a total value of $70,650.00. Following the transaction, the director now owns 14,867 shares of the company’s stock, valued at $233,411.90. The trade was a 23.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Donegal Group Trading Down 0.3 %

Shares of DGICA stock opened at $15.84 on Friday. The stock has a market capitalization of $530.32 million, a price-to-earnings ratio of 20.84 and a beta of -0.06. The company’s fifty day simple moving average is $15.01 and its two-hundred day simple moving average is $14.12. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $16.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38.

Donegal Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.172 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 annualized dividend and a yield of 4.34%. Donegal Group’s dividend payout ratio is currently 90.79%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Donegal Group by 34.7% during the first quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock valued at $16,728,000 after buying an additional 304,477 shares during the period. Foundry Partners LLC boosted its position in shares of Donegal Group by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock valued at $3,605,000 after acquiring an additional 2,310 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Donegal Group by 4.4% during the second quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock worth $1,669,000 after purchasing an additional 5,416 shares in the last quarter. Empowered Funds LLC increased its position in shares of Donegal Group by 8.2% in the first quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock worth $1,573,000 after purchasing an additional 8,400 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Donegal Group by 82.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock valued at $1,551,000 after purchasing an additional 47,447 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a report on Friday, October 25th.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.