41,188 Shares in Donegal Group, Inc. $DGICA Bought by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC bought a new position in shares of Donegal Group, Inc. (NASDAQ:DGICA) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 41,188 shares of the insurance provider’s stock, valued at approximately $799,000.

A number of other hedge funds also recently made changes to their positions in DGICA. State of Alaska Department of Revenue bought a new position in Donegal Group during the third quarter worth $26,000. Versant Capital Management Inc grew its position in shares of Donegal Group by 79.1% during the 3rd quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock worth $58,000 after buying an additional 1,329 shares during the period. Allworth Financial LP increased its stake in shares of Donegal Group by 477.2% in the 2nd quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 2,448 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 2,975 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Donegal Group by 443.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after acquiring an additional 4,022 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal acquired 22,819 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were acquired at an average price of $20.05 per share, with a total value of $457,520.95. Following the completion of the transaction, the insider owned 13,913,704 shares in the company, valued at approximately $278,969,765.20. This trade represents a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have bought 78,343 shares of company stock valued at $1,549,745. Company insiders own 3.48% of the company’s stock.

Donegal Group Stock Down 0.5%

DGICA stock opened at $17.62 on Monday. The firm has a market capitalization of $645.60 million, a PE ratio of 8.05 and a beta of 0.05. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06. Donegal Group, Inc. has a twelve month low of $16.50 and a twelve month high of $21.12. The stock’s 50 day moving average is $19.00 and its 200-day moving average is $19.14.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, February 19th. The insurance provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02). The company had revenue of $240.14 million for the quarter, compared to the consensus estimate of $241.10 million. Donegal Group had a net margin of 8.11% and a return on equity of 12.99%. Sell-side analysts expect that Donegal Group, Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 3rd were given a $0.1825 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, February 3rd. Donegal Group’s dividend payout ratio is presently 33.33%.

Analyst Upgrades and Downgrades

DGICA has been the topic of several research reports. Zacks Research lowered shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods reduced their price objective on Donegal Group from $21.00 to $19.50 and set a “market perform” rating for the company in a research note on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.50.

Donegal Group Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.