Y Intercept Hong Kong Ltd Purchases New Shares in Donegal Group, Inc. $DGICA

Y Intercept Hong Kong Ltd purchased a new position in Donegal Group, Inc. (NASDAQ:DGICA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,635 shares of the insurance provider’s stock, valued at approximately $313,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Donegal Group by 78.0% during the 1st quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock valued at $101,000 after buying an additional 2,263 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Donegal Group by 47.4% during the 1st quarter. Russell Investments Group Ltd. now owns 5,225 shares of the insurance provider’s stock valued at $103,000 after acquiring an additional 1,681 shares during the period. Deutsche Bank AG boosted its stake in Donegal Group by 566.5% during the first quarter. Deutsche Bank AG now owns 12,863 shares of the insurance provider’s stock worth $253,000 after acquiring an additional 10,933 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Donegal Group by 5.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,578 shares of the insurance provider’s stock worth $282,000 after acquiring an additional 703 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in Donegal Group by 56.8% in the first quarter. XTX Topco Ltd now owns 16,387 shares of the insurance provider’s stock worth $322,000 after purchasing an additional 5,935 shares during the period. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Insider Activity

In other news, major shareholder Mutual Insurance Co Donegal acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was bought at an average price of $17.84 per share, with a total value of $356,800.00. Following the completion of the acquisition, the insider directly owned 13,500,977 shares of the company’s stock, valued at approximately $240,857,429.68. The trade was a 0.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders acquired 228,958 shares of company stock valued at $4,268,466. Company insiders own 6.63% of the company’s stock.

Wall Street Analysts Forecast Growth

DGICA has been the subject of several recent research reports. Janney Montgomery Scott raised Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, October 8th. Zacks Research raised Donegal Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen downgraded Donegal Group from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Donegal Group presently has a consensus rating of “Buy” and an average price target of $18.00.

Donegal Group Stock Up 1.1%

DGICA stock opened at $19.24 on Friday. The stock has a market capitalization of $702.43 million, a P/E ratio of 8.08 and a beta of 0.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.40 and a quick ratio of 0.40. Donegal Group, Inc. has a 1-year low of $14.17 and a 1-year high of $21.12. The business has a fifty day moving average price of $19.13 and a 200-day moving average price of $18.93.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%.The business had revenue of $245.55 million during the quarter, compared to analyst estimates of $244.19 million. Equities analysts forecast that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be issued a dividend of $0.1825 per share. This represents a $0.73 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, November 3rd. Donegal Group’s dividend payout ratio is presently 30.17%.

About Donegal Group

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.