Donegal Group, Inc. (DGICA) To Go Ex-Dividend on November 2nd

Donegal Group, Inc. (NASDAQ:DGICA) announced a quarterly dividend on Thursday, October 15th. Shareholders of record on Monday, November 2nd will be paid a dividend of $0.1925 per share by the insurance provider on Monday, November 16th. This represents a $0.77 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, November 2nd.

Donegal Group has a payout ratio of 38.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Donegal Group to earn $1.85 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 41.6%.

Donegal Group Stock Down 0.6%

Donegal Group stock opened at $18.72 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $694.89 million, a PE ratio of 10.18 and a beta of -0.03. The business has a 50 day simple moving average of $18.71 and a 200-day simple moving average of $18.15. Donegal Group has a 12 month low of $16.11 and a 12 month high of $21.06.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $237.66 million for the quarter, compared to analysts’ expectations of $214.12 million. Donegal Group had a net margin of 7.24% and a return on equity of 10.49%. On average, analysts anticipate that Donegal Group will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO David Bawel sold 8,326 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $19.28, for a total value of $160,525.28. Following the completion of the sale, the chief accounting officer directly owned 22,331 shares in the company, valued at $430,541.68. This represents a 27.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kevin Burke sold 24,000 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $19.23, for a total value of $461,520.00. Following the completion of the sale, the insider directly owned 13,870 shares of the company’s stock, valued at approximately $266,720.10. This represents a 63.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders acquired 220,437 shares of company stock valued at $4,218,669 and sold 111,108 shares valued at $2,153,119. 2.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its holdings in Donegal Group by 214.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 4,016 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Donegal Group by 27.8% during the 2nd quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock worth $174,000 after buying an additional 2,004 shares during the last quarter. State of Wyoming purchased a new position in shares of Donegal Group during the 3rd quarter worth $177,000. Allianz Asset Management GmbH acquired a new stake in shares of Donegal Group during the 2nd quarter worth about $220,000. Finally, Amundi acquired a new stake in shares of Donegal Group during the 1st quarter worth about $206,000. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Donegal Group Company Profile

Donegal Group Inc (NASDAQ: DGICA) is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.

Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers’ compensation coverage, along with other specialized property and casualty policies.

Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.