Donegal Group (NASDAQ:DGICA) Stock: Insider Michael Kevin Callahan Sells 3,000 Shares

Donegal Group, Inc. (NASDAQ:DGICA) Director Michael Kevin Callahan sold 3,000 shares of the business’s stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $19.01, for a total transaction of $57,030.00. Following the completion of the sale, the director directly owned 17,708 shares of the company’s stock, valued at $336,629.08. This represents a 14.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Donegal Group Stock Performance

Shares of NASDAQ:DGICA traded up $0.10 on Friday, reaching $19.06. 121,251 shares of the company’s stock were exchanged, compared to its average volume of 112,779. Donegal Group, Inc. has a twelve month low of $16.11 and a twelve month high of $21.06. The company has a fifty day moving average of $18.66 and a 200-day moving average of $18.15. The company has a market capitalization of $713.23 million, a price-to-earnings ratio of 10.19 and a beta of -0.03. The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The company had revenue of $237.66 million during the quarter, compared to the consensus estimate of $214.12 million. Donegal Group had a net margin of 7.24% and a return on equity of 10.45%. On average, research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Monday, November 2nd. Donegal Group’s dividend payout ratio (DPR) is 41.18%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DGICA shares. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. Zacks Research raised Donegal Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.00.

Hedge Funds Weigh In On Donegal Group

Several hedge funds have recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in shares of Donegal Group in the 3rd quarter valued at approximately $301,000. First Trust Advisors LP raised its position in Donegal Group by 31.7% during the third quarter. First Trust Advisors LP now owns 74,434 shares of the insurance provider’s stock valued at $1,324,000 after purchasing an additional 17,915 shares in the last quarter. Virtus Advisers LLC lifted its position in shares of Donegal Group by 16.8% during the 3rd quarter. Virtus Advisers LLC now owns 9,866 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,417 shares during the last quarter. Russell Investments Group Ltd. grew its position in Donegal Group by 68.7% in the third quarter. Russell Investments Group Ltd. now owns 22,747 shares of the insurance provider’s stock valued at $405,000 after acquiring an additional 9,266 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Donegal Group by 6.7% during the third quarter. Commonwealth Equity Services LLC now owns 21,290 shares of the insurance provider’s stock worth $379,000 after acquiring an additional 1,336 shares in the last quarter. 27.96% of the stock is owned by institutional investors.

Donegal Group Company Profile

Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.