Donegal Group Inc. (NASDAQ:DGICA) SVP David Wayne Sponic Sells 6,000 Shares

Donegal Group Inc. (NASDAQ:DGICA) SVP David Wayne Sponic sold 6,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $17.99, for a total value of $107,940.00. Following the completion of the transaction, the senior vice president now directly owns 2,006 shares in the company, valued at $36,087.94. This trade represents a 74.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Donegal Group Stock Up 0.2 %

Shares of NASDAQ:DGICA traded up $0.03 during trading hours on Friday, hitting $18.02. The company’s stock had a trading volume of 31,338 shares, compared to its average volume of 71,734. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The firm’s fifty day moving average price is $15.37 and its 200 day moving average price is $15.37. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $18.19. The company has a market capitalization of $610.81 million, a price-to-earnings ratio of 11.85 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.39. The company had revenue of $249.70 million during the quarter, compared to analyst estimates of $250.61 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. As a group, research analysts expect that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were paid a dividend of $0.1725 per share. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 3.83%. The ex-dividend date was Tuesday, February 4th. Donegal Group’s payout ratio is 45.39%.

Institutional Trading of Donegal Group

Several large investors have recently added to or reduced their stakes in DGICA. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Donegal Group by 124.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider’s stock worth $3,647,000 after purchasing an additional 130,489 shares during the period. Renaissance Technologies LLC increased its position in shares of Donegal Group by 29.5% during the fourth quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock valued at $6,638,000 after acquiring an additional 97,795 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Donegal Group by 351.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider’s stock valued at $1,670,000 after acquiring an additional 84,029 shares during the period. Millennium Management LLC boosted its position in shares of Donegal Group by 170.8% during the 4th quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider’s stock worth $1,598,000 after purchasing an additional 65,146 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in Donegal Group by 137.8% in the 4th quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider’s stock valued at $1,615,000 after purchasing an additional 60,491 shares during the last quarter. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

Donegal Group Company Profile

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.