CSM Advisors LLC Acquires Shares of 184,745 Donegal Group, Inc. $DGICA

CSM Advisors LLC bought a new position in shares of Donegal Group, Inc. (NASDAQ:DGICA) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 184,745 shares of the insurance provider’s stock, valued at approximately $3,699,000. CSM Advisors LLC owned 0.51% of Donegal Group at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DGICA. Hsbc Holdings PLC boosted its position in shares of Donegal Group by 21.4% during the 1st quarter. Hsbc Holdings PLC now owns 47,551 shares of the insurance provider’s stock worth $936,000 after purchasing an additional 8,394 shares in the last quarter. CWM LLC lifted its stake in shares of Donegal Group by 21.9% in the second quarter. CWM LLC now owns 6,293 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 1,130 shares during the period. XTX Topco Ltd lifted its stake in shares of Donegal Group by 56.8% in the first quarter. XTX Topco Ltd now owns 16,387 shares of the insurance provider’s stock valued at $322,000 after purchasing an additional 5,935 shares during the period. Inspire Investing LLC purchased a new stake in Donegal Group during the first quarter worth about $825,000. Finally, Russell Investments Group Ltd. grew its position in Donegal Group by 47.4% during the first 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 period. 27.96% of the stock is owned by institutional investors and hedge funds.

Donegal Group Trading Up 1.1%

Shares of Donegal Group stock opened at $19.24 on Monday. Donegal Group, Inc. has a 1 year low of $14.17 and a 1 year high of $21.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50 day moving average price of $19.13 and a 200 day moving average price of $18.93. The company has a market capitalization of $702.43 million, a P/E ratio of 8.08 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.15. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%.The company had revenue of $245.55 million during the quarter, compared to the consensus estimate of $244.19 million. Sell-side analysts anticipate that Donegal Group, Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be given a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, November 3rd. Donegal Group’s dividend payout ratio (DPR) is currently 30.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Wall Street Zen downgraded Donegal Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Janney Montgomery Scott upgraded Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Donegal Group in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Donegal Group presently has a consensus rating of “Buy” and a consensus price target of $18.00.

Insiders Place Their Bets

In other news, major shareholder Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock in a transaction on Friday, August 29th. The shares were bought at an average cost of $17.84 per share, for a total transaction of $356,800.00. Following the acquisition, the insider owned 13,500,977 shares in the company, valued at approximately $240,857,429.68. This trade represents a 0.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have bought 228,958 shares of company stock valued at $4,268,466. Insiders own 6.63% of the company’s stock.

Donegal Group 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.