David Benjamin Bawel Sells 8,326 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) CAO David Bawel sold 8,326 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $19.28, for a total transaction of $160,525.28. Following the completion of the sale, the chief accounting officer owned 22,331 shares of the company’s stock, valued at approximately $430,541.68. The trade was a 27.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Donegal Group Trading Up 0.5%

Donegal Group stock opened at $19.36 on Friday. The company’s fifty day simple moving average is $19.00 and its 200-day simple moving average is $17.96. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The stock has a market cap of $1.28 billion, a P/E ratio of 10.03 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.11. The business had revenue of $241.12 million during the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. As a group, sell-side analysts forecast that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, July 31st. Donegal Group’s payout ratio is currently 39.90%.

Institutional Trading of Donegal Group

Large investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co lifted its position in shares of Donegal Group by 31.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after purchasing an additional 896 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Donegal Group by 8.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock valued at $237,000 after buying an additional 1,000 shares during the last quarter. Qube Research & Technologies Ltd increased its position in Donegal Group by 1.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider’s stock worth $2,576,000 after buying an additional 1,274 shares during the period. Mariner LLC increased its position in Donegal Group by 9.9% in the 4th quarter. Mariner LLC now owns 14,874 shares of the insurance provider’s stock worth $297,000 after buying an additional 1,342 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Donegal Group by 3.3% during the second quarter. Invesco Ltd. now owns 42,361 shares of the insurance provider’s stock worth $848,000 after buying an additional 1,362 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. Keefe, Bruyette & Woods boosted their target price on shares of Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Donegal Group currently has an average rating of “Hold” and an average target price of $20.00.

Donegal Group Company Profile

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of independent insurance agents. The company operates through regional insurance subsidiaries affiliated with Donegal Mutual Insurance Company and serves individuals, families, farms, and businesses.

Its personal insurance products generally include automobile, homeowners, dwelling fire, renters, and farmowners coverage. Donegal Group also offers commercial insurance, including businessowners policies, commercial automobile, commercial package, workers’ compensation, general liability, and related coverages.