Christina Marie Hoffman Sells 18,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) VP Christina Marie Hoffman sold 18,000 shares of Donegal Group stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $19.67, for a total value of $354,060.00. Following the completion of the sale, the vice president owned 4,655 shares of the company’s stock, valued at $91,563.85. The trade was a 79.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Donegal Group Stock Performance

Shares of NASDAQ:DGICA opened at $19.24 on Friday. The company has a market capitalization of $712.84 million, a price-to-earnings ratio of 9.97 and a beta of -0.01. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $18.40 and a 200 day moving average of $17.90.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.11. The business had revenue of $241.12 million for the quarter, compared to analysts’ expectations of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. On average, sell-side analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, July 31st. Donegal Group’s payout ratio is 39.90%.

Analysts Set New Price Targets

DGICA has been the topic of several analyst reports. Weiss Ratings raised shares of Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods increased their price objective on Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DGICA. Royce & Associates LP lifted its stake in shares of Donegal Group by 579.4% during the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after buying an additional 144,853 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Donegal Group by 41.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after acquiring an additional 80,614 shares during the period. Los Angeles Capital Management LLC raised its stake in Donegal Group by 145.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 67,726 shares of the insurance provider’s stock worth $1,245,000 after acquiring an additional 40,078 shares during the last quarter. QRG Capital Management Inc. purchased a new position in Donegal Group in the 1st quarter worth $223,000. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its position in Donegal Group by 14.7% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 23,406 shares of the insurance provider’s stock worth $402,000 after acquiring an additional 3,006 shares during the period. Institutional investors and hedge funds own 27.96% of the company’s stock.

About Donegal Group

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.