Donegal Group Inc. (NASDAQ:DGICA) issued its earnings results on Wednesday. The insurance provider reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.23. Donegal Group had a net margin of 4.89% and a return on equity of 7.16%. The firm had revenue of $175.05 million during the quarter.
Shares of Donegal Group (NASDAQ:DGICA) traded down 0.26% during midday trading on Friday, hitting $15.57. 32,418 shares of the stock traded hands. Donegal Group has a 1-year low of $14.49 and a 1-year high of $18.55. The company has a market capitalization of $424.91 million, a P/E ratio of 17.84 and a beta of 0.04. The stock has a 50 day moving average of $16.74 and a 200 day moving average of $16.68.
The company also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 1st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Thursday, April 27th. This is an increase from Donegal Group’s previous quarterly dividend of $0.14. Donegal Group’s payout ratio is currently 44.35%.
In related news, Director Robert S. Bolinger sold 12,000 shares of the firm’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $16.67, for a total value of $200,040.00. Following the transaction, the director now owns 9,185 shares in the company, valued at $153,113.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.38% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allianz Asset Management AG acquired a new position in Donegal Group during the fourth quarter worth about $585,000. Dimensional Fund Advisors LP boosted its position in Donegal Group by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,580,912 shares of the insurance provider’s stock worth $27,634,000 after buying an additional 28,649 shares in the last quarter. Philadelphia Trust Co. boosted its position in Donegal Group by 13.8% in the fourth quarter. Philadelphia Trust Co. now owns 484,113 shares of the insurance provider’s stock worth $8,462,000 after buying an additional 58,579 shares in the last quarter. Renaissance Technologies LLC boosted its position in Donegal Group by 22.2% in the fourth quarter. Renaissance Technologies LLC now owns 333,000 shares of the insurance provider’s stock worth $5,821,000 after buying an additional 60,443 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Donegal Group by 6.4% in the first quarter. Janney Montgomery Scott LLC now owns 71,959 shares of the insurance provider’s stock worth $1,268,000 after buying an additional 4,332 shares in the last quarter. Hedge funds and other institutional investors own 26.24% of the company’s stock.
About Donegal Group
Donegal Group Inc (DGI) is an insurance holding company whose insurance subsidiaries offer personal and commercial lines of property and casualty insurance. The Company offered its insurance business to various businesses and individuals in 21 Mid-Atlantic, Midwestern, New England and Southern states, as of December 31, 2016.
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