Donegal Group Inc. (NASDAQ:DGICA) VP Sanjay Pandey Sells 12,982 Shares

Donegal Group Inc. (NASDAQ:DGICA) VP Sanjay Pandey sold 12,982 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $20.27, for a total value of $263,145.14. Following the sale, the vice president now owns 7,449 shares in the company, valued at approximately $150,991.23. This trade represents a 63.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Sanjay Pandey also recently made the following trade(s):

• On Thursday, March 13th, Sanjay Pandey sold 5,915 shares of Donegal Group stock. The stock was sold at an average price of $18.01, for a total value of $106,529.15.

Donegal Group Stock Performance

NASDAQ:DGICA opened at $20.86 on Tuesday. The stock has a market cap of $752.98 million, a P/E ratio of 13.72 and a beta of -0.05. 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 stock’s 50-day moving average is $18.97 and its 200-day moving average is $16.88. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $20.90.

Donegal Group (NASDAQ:DGICA) last announced 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 analysts’ expectations of $248.73 million. Equities research analysts anticipate that Donegal Group Inc. will post 1.2 earnings per share for the current year.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a $0.1825 dividend. The ex-dividend date was Thursday, May 1st. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 3.50%. Donegal Group’s dividend payout ratio is presently 35.61%.

Institutional Trading of Donegal Group

Institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Donegal Group by 124.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider’s stock valued at $3,647,000 after buying an additional 130,489 shares during the period. Renaissance Technologies LLC lifted its stake in Donegal Group by 29.5% in the fourth quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock valued at $6,638,000 after buying an additional 97,795 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Donegal Group by 351.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider’s stock valued at $1,670,000 after buying an additional 84,029 shares during the period. Millennium Management LLC lifted its stake in Donegal Group by 170.8% in the fourth quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider’s stock valued at $1,598,000 after buying an additional 65,146 shares during the period. Finally, Teacher Retirement System of Texas lifted its stake in Donegal Group by 137.8% in the fourth quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider’s stock valued at $1,615,000 after buying an additional 60,491 shares during the period. 27.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.