Donegal Group Inc. (NASDAQ:DGICA) Director Dennis Joseph Bixenman sold 8,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $14.81, for a total value of $118,480.00. Following the completion of the transaction, the director now directly owns 13,155 shares in the company, valued at $194,825.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of DGICA opened at $14.54 on Friday. The stock’s 50-day moving average price is $14.45 and its 200-day moving average price is $14.47. Donegal Group Inc. has a 52 week low of $12.42 and a 52 week high of $15.43. The company has a market capitalization of $424.01 million, a price-to-earnings ratio of -14.54 and a beta of 0.27. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.09.
Donegal Group (NASDAQ:DGICA) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. Donegal Group had a return on equity of 1.96% and a net margin of 2.25%. The business had revenue of $198.38 million during the quarter, compared to analysts’ expectations of $196.40 million. As a group, equities analysts anticipate that Donegal Group Inc. will post 0.9 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its holdings in shares of Donegal Group by 36.1% in the second quarter. Russell Investments Group Ltd. now owns 3,812 shares of the insurance provider’s stock valued at $58,000 after purchasing an additional 1,012 shares during the last quarter. Atwater Malick LLC increased its holdings in shares of Donegal Group by 7.1% in the second quarter. Atwater Malick LLC now owns 16,064 shares of the insurance provider’s stock valued at $245,000 after purchasing an additional 1,064 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Donegal Group by 10.4% in the third quarter. Rhumbline Advisers now owns 15,028 shares of the insurance provider’s stock valued at $220,000 after purchasing an additional 1,410 shares during the last quarter. Smithfield Trust Co. acquired a new stake in shares of Donegal Group in the third quarter valued at approximately $44,000. Finally, Carroll Financial Associates Inc. increased its holdings in shares of Donegal Group by 195.0% in the second quarter. Carroll Financial Associates Inc. now owns 5,330 shares of the insurance provider’s stock valued at $81,000 after purchasing an additional 3,523 shares during the last quarter. 30.60% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on DGICA. ValuEngine lowered Donegal Group from a “buy” rating to a “hold” rating in a report on Saturday, August 31st. Boenning Scattergood reissued a “hold” rating on shares of Donegal Group in a report on Tuesday, July 30th. BidaskClub raised Donegal Group from a “sell” rating to a “hold” rating in a report on Saturday, November 2nd. Zacks Investment Research raised Donegal Group from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Monday, November 4th. Finally, TheStreet raised Donegal Group from a “c” rating to a “b-” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $17.00.
About Donegal Group
Donegal Group Inc, an insurance holding company, provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, Commercial Lines of Insurance, and Investment in DFSC.
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