Kristi Spencer Altshuler Sells 15,239 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) VP Kristi Spencer Altshuler sold 15,239 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $19.38, for a total transaction of $295,331.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Donegal Group Stock Performance

Shares of DGICA opened at $19.83 on Wednesday. The firm has a market cap of $706.72 million, a price-to-earnings ratio of 13.05 and a beta of -0.05. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $18.57 and its two-hundred day moving average is $16.56. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $20.51.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.38. The firm had revenue of $245.57 million for the quarter, compared to analysts’ expectations of $248.73 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. Analysts forecast that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a $0.1825 dividend. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 3.68%. The ex-dividend date is Thursday, May 1st. Donegal Group’s payout ratio is currently 35.61%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their price objective on shares of Donegal Group from $17.00 to $18.00 and gave the company a “market perform” rating in a research report on Friday, April 25th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Pinnacle Associates Ltd. acquired a new position in Donegal Group during the 1st quarter valued at approximately $714,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Donegal Group during the first quarter valued at $489,000. CWM LLC lifted its position in Donegal Group by 78.0% in the 1st quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 2,263 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Donegal Group by 2.6% during the first quarter. Teacher Retirement System of Texas now owns 107,113 shares of the insurance provider’s stock worth $2,103,000 after buying an additional 2,721 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Donegal Group by 24.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,875 shares of the insurance provider’s stock valued at $272,000 after buying an additional 2,695 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.

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.