Insider Selling: Donegal Group (NASDAQ:DGICA) Insider Sells $461,520.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) insider Kevin Burke sold 24,000 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $19.23, for a total value of $461,520.00. Following the completion of the sale, the insider owned 13,870 shares in the company, valued at $266,720.10. The trade was a 63.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Donegal Group Stock Up 0.1%

DGICA stock traded up $0.02 on Monday, reaching $19.38. 27,742 shares of the company traded hands, compared to its average volume of 125,350. The firm has a fifty day simple moving average of $19.00 and a 200-day simple moving average of $17.97. The company has a market cap of $1.28 billion, a P/E ratio of 10.04 and a beta of -0.01. Donegal Group, Inc. has a one year low of $16.11 and a one year 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.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, topping 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 business had revenue of $241.12 million for the quarter, compared to the consensus estimate of $231.53 million. Research analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Dividend Announcement

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

Analyst Upgrades and Downgrades

DGICA has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Donegal Group has an average rating of “Hold” and a consensus target price of $20.00.

Institutional Investors Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its holdings in shares of Donegal Group by 576.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after buying an additional 2,341 shares during the last quarter. EverSource Wealth Advisors LLC grew 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. CANADA LIFE ASSURANCE Co increased its stake in shares of Donegal Group by 31.6% in 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 in the last quarter. IFP Advisors Inc raised its holdings in Donegal Group by 1,377.6% in the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after purchasing an additional 3,513 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Donegal Group by 443.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after purchasing an additional 4,022 shares during the period. Hedge funds and other institutional investors own 27.96% of the company’s stock.

About Donegal Group

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.