Donegal Group (NASDAQ:DGICA) Director David Charles King Sells 9,000 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) Director David Charles King sold 9,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.33, for a total value of $173,970.00. Following the completion of the transaction, the director owned 3,700 shares in the company, valued at $71,521. The trade was a 70.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Donegal Group Stock Performance

NASDAQ:DGICA opened at $19.64 on Thursday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The stock has a 50-day moving average price of $18.31 and a 200 day moving average price of $17.89. The stock has a market capitalization of $727.66 million, a P/E ratio of 10.18 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA) last issued 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. Donegal Group had a return on equity of 10.77% and a net margin of 7.38%.The company had revenue of $241.12 million for the quarter, compared to the consensus estimate of $231.53 million. Equities research analysts forecast 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 Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.1925 per share. The ex-dividend date is Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 3.9%. Donegal Group’s dividend payout ratio (DPR) is presently 39.90%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DGICA shares. Weiss Ratings upgraded shares of Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their price target on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.00.

Hedge Funds Weigh In On Donegal Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in Donegal Group by 576.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 2,341 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 2,975 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Donegal Group by 1,377.6% in the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 3,513 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position 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 worth $75,000 after purchasing an additional 896 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Donegal Group by 443.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after purchasing an additional 4,022 shares in the last quarter. 27.96% of the stock is owned by institutional investors.

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.