Donegal Group (NASDAQ:DGICA) Director Barry Craig Huber Sells 4,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA) Director Barry Craig Huber sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $19.43, for a total value of $87,435.00. Following the completion of the transaction, the director owned 16,567 shares in the company, valued at $321,896.81. This represents a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Donegal Group Trading Up 0.2%

Shares of Donegal Group stock opened at $19.45 on Friday. The stock has a 50 day moving average of $18.99 and a 200 day moving average of $17.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market capitalization of $721.96 million, a price-to-earnings ratio of 10.08 and a beta of -0.01. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. Donegal Group had a return on equity of 10.65% 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. As a group, research analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s dividend payout ratio (DPR) is presently 39.90%.

Analyst Upgrades and Downgrades

DGICA has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upped their target price on shares of 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 research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.00.

Institutional Investors Weigh In On Donegal Group

Hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP boosted its position in Donegal Group by 579.4% in the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock valued at $3,394,000 after buying an additional 144,853 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Donegal Group by 41.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after acquiring an additional 80,614 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Donegal Group by 145.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 67,726 shares of the insurance provider’s stock valued at $1,245,000 after acquiring an additional 40,078 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Donegal Group by 5.8% in the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock valued at $6,747,000 after purchasing an additional 21,500 shares during the period. Finally, Strs Ohio boosted its holdings in Donegal Group by 3.7% in the fourth quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock valued at $565,000 after purchasing an additional 1,000 shares during the period. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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.