Donegal Group Inc. (NASDAQ:DGICA) CFO Sells $475,920.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) CFO Jeffrey Dean Miller sold 24,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $19.83, for a total value of $475,920.00. Following the completion of the transaction, the chief financial officer now directly owns 23,980 shares of the company’s stock, valued at $475,523.40. This represents a 50.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Donegal Group Stock Performance

Shares of DGICA opened at $20.44 on Friday. The business’s fifty day simple moving average is $18.85 and its two-hundred day simple moving average is $16.78. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $20.51. The company has a market cap of $728.46 million, a price-to-earnings ratio of 13.45 and a beta of -0.05.

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

Donegal Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $0.1825 dividend. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, May 1st. Donegal Group’s dividend payout ratio (DPR) is 35.61%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Donegal Group

Institutional investors and hedge funds have recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new position in shares of Donegal Group in the 4th quarter worth $68,000. CWM LLC boosted its stake in shares of Donegal Group by 78.0% in the 1st quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock worth $101,000 after buying an additional 2,263 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Donegal Group by 47.4% in the 1st quarter. Russell Investments Group Ltd. now owns 5,225 shares of the insurance provider’s stock worth $103,000 after buying an additional 1,681 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Donegal Group in the 4th quarter worth $128,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Donegal Group by 117.2% in the 4th quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock worth $130,000 after buying an additional 4,544 shares during the last quarter. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

Donegal Group Company Profile

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.