Donegal Group, Inc. (NASDAQ:DGICA) to Issue $0.19 Quarterly Dividend

Donegal Group, Inc. (NASDAQ:DGICA) announced a quarterly dividend on Thursday, July 16th. Investors of record on Friday, July 31st will be paid a dividend of 0.1925 per share by the insurance provider on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, July 31st.

Donegal Group has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 5 years. Donegal Group has a dividend payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Donegal Group to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.77 annual dividend with an expected future payout ratio of 40.5%.

Donegal Group Trading Up 3.3%

Shares of NASDAQ DGICA opened at $18.62 on Friday. Donegal Group has a 1-year low of $16.11 and a 1-year high of $21.06. The business has a fifty day moving average price of $17.79 and a 200 day moving average price of $17.95. The stock has a market capitalization of $689.87 million and a P/E ratio of 10.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The firm had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million. Equities research analysts expect that Donegal Group will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal acquired 9,682 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $17.62 per share, with a total value of $170,596.84. Following the acquisition, the insider directly owned 14,136,691 shares of the company’s stock, valued at approximately $249,088,495.42. The trade was a 0.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have purchased 139,487 shares of company stock worth $2,392,488. Insiders own 2.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in Donegal Group by 576.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 2,341 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Donegal Group by 422.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 2,975 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Donegal Group by 31.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 896 shares during the last quarter. IFP Advisors Inc grew its position in Donegal Group by 1,377.6% during the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after purchasing an additional 3,513 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Donegal Group by 443.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after purchasing an additional 4,022 shares during the period. Hedge funds and other institutional investors 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.