David Benjamin Bawel Sells 9,000 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) CAO David Benjamin Bawel sold 9,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $19.83, for a total transaction of $178,470.00. Following the sale, the chief accounting officer now owns 20,417 shares in the company, valued at approximately $404,869.11. The trade was a 30.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Donegal Group Trading Down 0.3%

Shares of NASDAQ:DGICA opened at $19.73 on Thursday. 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 Inc. has a 1 year low of $12.26 and a 1 year high of $20.51. The company has a market cap of $703.16 million, a P/E ratio of 12.98 and a beta of -0.05. The stock’s fifty day moving average price is $18.79 and its 200-day moving average price is $16.75.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, April 24th. The insurance provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.38. The business had revenue of $245.57 million during the quarter, compared to analyst estimates of $248.73 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. Sell-side analysts expect that Donegal Group Inc. will post 1.2 earnings per share for the current year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $0.1825 per share. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.73 dividend on an annualized basis and a yield of 3.70%. Donegal Group’s dividend payout ratio is 35.61%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their price objective on 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 Investors Weigh In On Donegal Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in DGICA. Barclays PLC grew its stake in shares of Donegal Group by 38.7% during the 3rd quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock valued at $957,000 after purchasing an additional 18,132 shares during the period. SG Americas Securities LLC bought a new stake in Donegal Group during the fourth quarter valued at approximately $128,000. Bleakley Financial Group LLC purchased a new stake in Donegal Group during the fourth quarter valued at approximately $244,000. Private Advisor Group LLC bought a new position in Donegal Group in the fourth quarter worth approximately $177,000. Finally, Bank of New York Mellon Corp raised its position in Donegal Group by 4.2% in the fourth quarter. Bank of New York Mellon Corp now owns 122,417 shares of the insurance provider’s stock worth $1,894,000 after acquiring an additional 4,967 shares during the period. Hedge funds and other 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.