Donegal Group Inc. (NASDAQ:DGICA) Short Interest Update

Donegal Group Inc. (NASDAQ:DGICA) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 191,900 shares, a decline of 14.6% from the December 15th total of 224,800 shares. Based on an average daily trading volume, of 92,500 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.3% of the company’s shares are short sold.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, major shareholder Mutual Insurance Co Donegal acquired 4,137 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $15.20 per share, for a total transaction of $62,882.40. Following the acquisition, the insider now owns 12,514,232 shares of the company’s stock, valued at $190,216,326.40. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David Wayne Sponic sold 12,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $15.50, for a total transaction of $186,000.00. Following the completion of the sale, the senior vice president now owns 2,006 shares of the company’s stock, valued at $31,093. This trade represents a 85.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 616,809 shares of company stock valued at $10,026,700 and have sold 379,564 shares valued at $6,212,273. 5.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Donegal Group

A number of hedge funds have recently bought and sold shares of DGICA. SG Americas Securities LLC bought a new position in Donegal Group in the 4th quarter valued at approximately $128,000. Barclays PLC raised its stake in shares of Donegal Group by 38.7% in the third quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock worth $957,000 after purchasing an additional 18,132 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Donegal Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock valued at $5,371,000 after purchasing an additional 4,933 shares in the last quarter. Martingale Asset Management L P boosted its position in shares of Donegal Group by 4.2% during the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after buying an additional 902 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Donegal Group by 39.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock worth $896,000 after buying an additional 17,125 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.

Donegal Group Stock Down 0.2 %

NASDAQ:DGICA traded down $0.03 during trading hours on Friday, reaching $14.59. 119,141 shares of the company traded hands, compared to its average volume of 77,786. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $15.71 and its two-hundred day moving average price is $14.97. Donegal Group has a 1 year low of $12.26 and a 1 year high of $17.00. The stock has a market capitalization of $494.60 million, a P/E ratio of 19.20 and a beta of -0.01.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th will be given a $0.1725 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend is Tuesday, February 4th. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s payout ratio is currently 90.79%.

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.