Kevin Gerard Burke Sells 27,000 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) insider Kevin Gerard Burke sold 27,000 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $19.83, for a total value of $535,410.00. Following the sale, the insider now directly owns 11,672 shares of the company’s stock, valued at approximately $231,455.76. This trade represents a 69.82% 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%

NASDAQ DGICA opened at $19.73 on Thursday. The firm has a market capitalization of $703.16 million, a price-to-earnings ratio of 12.98 and a beta of -0.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. Donegal Group Inc. has a one year low of $12.26 and a one year high of $20.51. The company’s 50 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 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.38. The business had revenue of $245.57 million for the quarter, compared to the consensus estimate of $248.73 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. On average, sell-side analysts predict that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a $0.1825 dividend. The ex-dividend date of this dividend is Thursday, May 1st. 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 3.70%. Donegal Group’s dividend payout ratio (DPR) is 35.61%.

Institutional Investors Weigh In On Donegal Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Jump Financial LLC boosted its stake in shares of Donegal Group by 3.1% in the first quarter. Jump Financial LLC now owns 17,952 shares of the insurance provider’s stock valued at $352,000 after purchasing an additional 533 shares during the period. Martingale Asset Management L P lifted its holdings in Donegal Group by 4.2% in the 1st quarter. Martingale Asset Management L P now owns 28,509 shares of the insurance provider’s stock worth $560,000 after buying an additional 1,156 shares in the last quarter. Hsbc Holdings PLC boosted its position in Donegal Group by 21.4% in the 1st quarter. Hsbc Holdings PLC now owns 47,551 shares of the insurance provider’s stock valued at $936,000 after buying an additional 8,394 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Donegal Group by 46.0% during the first quarter. American Century Companies Inc. now owns 37,964 shares of the insurance provider’s stock valued at $745,000 after acquiring an additional 11,958 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Donegal Group by 47.4% during the first quarter. Russell Investments Group Ltd. now owns 5,225 shares of the insurance provider’s stock valued at $103,000 after acquiring an additional 1,681 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their price objective on Donegal Group from $17.00 to $18.00 and gave the stock a “market perform” rating in a report on Friday, April 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.