Insider Selling: Donegal Group (NASDAQ:DGICA) VP Sells 2,282 Shares

Donegal Group, Inc. (NASDAQ:DGICA) VP Vincent Viozzi sold 2,282 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $19.50, for a total transaction of $44,499.00. Following the completion of the sale, the vice president directly owned 5,861 shares in the company, valued at approximately $114,289.50. This trade represents a 28.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Donegal Group Stock Performance

Shares of DGICA stock opened at $19.42 on Friday. The stock has a market capitalization of $720.87 million, a P/E ratio of 10.06 and a beta of -0.01. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $18.97 and its 200 day moving average is $17.91. Donegal Group, Inc. 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 data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The business had revenue of $241.12 million during the quarter, compared to analyst estimates of $231.53 million. On average, sell-side analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.1925 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. Donegal Group’s payout ratio is 39.90%.

Institutional Trading of Donegal Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew 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 acquiring an additional 2,341 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Donegal Group by 422.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after acquiring an additional 2,975 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Donegal Group by 1,377.6% in the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 3,513 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Donegal Group by 31.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 896 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Donegal Group by 443.9% in the 2nd 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. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Donegal Group has a consensus rating of “Hold” and an average target price of $20.00.

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.