Donegal Group (NASDAQ:DGICA) Stock: Insider Jon Marshall Mahan Sells 4,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA) Director Jon Mahan sold 4,500 shares of Donegal Group stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $19.39, for a total transaction of $87,255.00. Following the transaction, the director owned 10,688 shares in the company, valued at approximately $207,240.32. This trade represents a 29.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Donegal Group Trading Down 1.0%

NASDAQ DGICA traded down $0.19 on Thursday, reaching $18.91. The company had a trading volume of 109,959 shares, compared to its average volume of 124,239. The firm has a market cap of $701.92 million, a price-to-earnings ratio of 10.11 and a beta of -0.03. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The business has a 50 day moving average of $18.70 and a two-hundred day moving average of $18.15. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, October 29th. The insurance provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.44 by $0.06. Donegal Group had a return on equity of 10.49% and a net margin of 7.24%. The firm had revenue of $237.66 million for the quarter, compared to the consensus estimate of $214.12 million. Analysts forecast that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be paid a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, November 2nd. Donegal Group’s payout ratio is currently 41.18%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DGICA. Nisa Investment Advisors LLC boosted its position in shares of Donegal Group by 214.4% during 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 in the last quarter. IFP Advisors Inc increased its holdings in Donegal Group by 27.8% in the second quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock worth $174,000 after purchasing an additional 2,004 shares in the last quarter. State of Wyoming bought a new stake in Donegal Group in the third quarter worth approximately $177,000. Amundi acquired a new position in Donegal Group in the first quarter valued at approximately $206,000. Finally, Allianz Asset Management GmbH acquired a new position in Donegal Group in the second quarter valued at approximately $220,000. 27.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on DGICA. Zacks Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 16th. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. 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.com, Donegal Group currently has a consensus rating of “Hold” and a consensus price target of $20.00.

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.