Foundry Partners LLC Sells 4,440 Shares of Donegal Group Inc. (NASDAQ:DGICA)

Foundry Partners LLC reduced its stake in Donegal Group Inc. (NASDAQ:DGICA) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 246,510 shares of the insurance provider’s stock after selling 4,440 shares during the period. Foundry Partners LLC owned about 0.74% of Donegal Group worth $3,449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mariner LLC boosted its holdings in shares of Donegal Group by 62.6% during the third quarter. Mariner LLC now owns 53,238 shares of the insurance provider’s stock worth $759,000 after purchasing an additional 20,499 shares during the period. Lewis Asset Management LLC purchased a new stake in Donegal Group in the 4th quarter worth approximately $194,000. Brandywine Global Investment Management LLC grew its position in shares of Donegal Group by 16.4% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 81,469 shares of the insurance provider’s stock worth $1,161,000 after buying an additional 11,473 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Donegal Group during the fourth quarter valued at approximately $124,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Donegal Group by 3.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 42,604 shares of the insurance provider’s stock valued at $607,000 after acquiring an additional 1,387 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.

Donegal Group Price Performance

DGICA stock opened at $13.83 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.40 and a quick ratio of 0.40. Donegal Group Inc. has a 1 year low of $13.10 and a 1 year high of $15.76. The firm has a 50-day moving average of $13.91 and a 200 day moving average of $14.16. The company has a market cap of $461.78 million, a P/E ratio of 98.79 and a beta of -0.07.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, February 22nd. The insurance provider reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.34). Donegal Group had a return on equity of 0.40% and a net margin of 0.48%. The firm had revenue of $239.47 million during the quarter, compared to the consensus estimate of $234.10 million. During the same period in the prior year, the company posted $0.09 EPS. On average, sell-side analysts forecast that Donegal Group Inc. will post 0.55 EPS for the current year.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a dividend of $0.172 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Tuesday, May 7th. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s payout ratio is 485.71%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Donegal Group from a “buy” rating to a “hold” rating in a report on Friday, February 23rd.

Donegal Group Profile

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.