Christina Marie Hoffman Sells 18,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) VP Christina Marie Hoffman sold 18,000 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $19.67, for a total value of $354,060.00. Following the completion of the sale, the vice president directly owned 4,655 shares in the company, valued at $91,563.85. This trade represents a 79.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Donegal Group Stock Performance

NASDAQ DGICA traded down $0.10 during trading hours on Friday, hitting $19.43. The company’s stock had a trading volume of 2,555 shares, compared to its average volume of 127,137. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The company’s 50 day simple moving average is $18.35 and its two-hundred day simple moving average is $17.89. The company has a market cap of $719.70 million, a P/E ratio of 10.09 and a beta of -0.01.

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

Donegal Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.1925 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.77 dividend on an annualized basis and a yield of 4.0%. Donegal Group’s payout ratio is presently 39.90%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DGICA. Smartleaf Asset Management LLC lifted its position in Donegal Group by 576.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 2,341 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Donegal Group by 422.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 2,975 shares during the period. IFP Advisors Inc grew its holdings in shares of Donegal Group by 1,377.6% during the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after buying an additional 3,513 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Donegal Group by 31.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after buying an additional 896 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of 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 during the period. Institutional investors own 27.96% of the company’s stock.

Analyst Upgrades and Downgrades

DGICA has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings raised Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Donegal Group currently has an average rating of “Moderate Buy” and an average price target of $20.00.

Donegal Group Company 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.