Insider Selling: Donegal Group Inc. (NASDAQ:DGICA) Director Sells $118,480.00 in Stock

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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.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.145 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.58 dividend on an annualized basis and a dividend yield of 3.99%. Donegal Group’s payout ratio is currently -58.00%.

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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