Kevin Gerard Burke Sells 24,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) insider Kevin Burke sold 24,000 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $19.23, for a total transaction of $461,520.00. Following the completion of the transaction, the insider owned 13,870 shares in the company, valued at approximately $266,720.10. This represents a 63.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Donegal Group Price Performance

Donegal Group stock opened at $19.45 on Wednesday. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a 50 day moving average price of $19.01 and a 200 day moving average price of $17.99. The company has a market capitalization of $1.28 billion, a PE ratio of 10.08 and a beta of -0.01.

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 analysts’ consensus estimates of $0.42 by $0.11. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The company had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Research analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Announces Dividend

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

Institutional Investors Weigh In On Donegal Group

Large investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its stake in shares of Donegal Group by 1,377.6% in the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock valued at $75,000 after buying an additional 3,513 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of Donegal Group during the fourth quarter worth approximately $204,000. Amundi acquired a new stake in Donegal Group in the first quarter valued at approximately $206,000. Allianz Asset Management GmbH purchased a new position in Donegal Group in the second quarter worth approximately $220,000. Finally, QRG Capital Management Inc. purchased a new position in Donegal Group in the first quarter worth approximately $223,000. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. Keefe, Bruyette & Woods boosted their price target on shares of Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Donegal Group currently has an average rating of “Hold” and a consensus target price of $20.00.

About Donegal Group

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of independent insurance agents. The company operates through regional insurance subsidiaries affiliated with Donegal Mutual Insurance Company and serves individuals, families, farms, and businesses.

Its personal insurance products generally include automobile, homeowners, dwelling fire, renters, and farmowners coverage. Donegal Group also offers commercial insurance, including businessowners policies, commercial automobile, commercial package, workers’ compensation, general liability, and related coverages.