Donegal Group (NASDAQ:DGICA) Stock: Insider Jon Marshall Mahan Sells 4,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA) Director Jon Mahan sold 4,500 shares of Donegal Group stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $19.39, for a total value of $87,255.00. Following the transaction, the director directly owned 10,688 shares of the company’s stock, valued at $207,240.32. This trade represents a 29.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Donegal Group Price Performance

NASDAQ DGICA opened at $18.73 on Friday. Donegal Group, Inc. has a 52-week low of $16.11 and a 52-week high of $21.06. The stock has a market cap of $695.26 million, a price-to-earnings ratio of 10.14 and a beta of -0.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The business has a 50 day simple moving average of $18.70 and a 200 day simple moving average of $18.14.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. Donegal Group had a return on equity of 10.49% and a net margin of 7.24%. The business had revenue of $237.66 million for the quarter, compared to analyst estimates of $214.12 million. Analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, November 2nd. Donegal Group’s payout ratio is currently 41.18%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Donegal Group by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock worth $29,846,000 after purchasing an additional 7,345 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Donegal Group by 5.8% in the 1st quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock worth $6,747,000 after acquiring an additional 21,500 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Donegal Group by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock worth $4,746,000 after buying an additional 80,614 shares during the period. Bank of New York Mellon Corp increased its position in Donegal Group by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock worth $2,862,000 after buying an additional 9,075 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in Donegal Group by 3.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider’s stock valued at $1,710,000 after buying an additional 3,264 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DGICA. Zacks Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Donegal Group Company Profile

Donegal Group Inc (NASDAQ: DGICA) is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.

Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers’ compensation coverage, along with other specialized property and casualty policies.

Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.