Donegal Group Inc. (NASDAQ:DGICA) Insider Kevin Gerard Burke Sells 27,000 Shares

Donegal Group Inc. (NASDAQ:DGICA) insider Kevin Gerard Burke sold 27,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $19.83, for a total transaction of $535,410.00. Following the completion of the sale, the insider now directly owns 11,672 shares of the company’s stock, valued at approximately $231,455.76. This trade represents a 69.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Donegal Group Stock Performance

DGICA opened at $19.78 on Wednesday. The stock has a market capitalization of $704.94 million, a price-to-earnings ratio of 13.01 and a beta of -0.05. The company has a fifty day moving average of $18.76 and a 200 day moving average of $16.72. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, April 24th. The insurance provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.38. The company had revenue of $245.57 million during the quarter, compared to analysts’ expectations of $248.73 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. As a group, sell-side analysts forecast that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a dividend of $0.1825 per share. This represents a $0.73 annualized dividend and a yield of 3.69%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, May 1st. Donegal Group’s dividend payout ratio (DPR) is presently 35.61%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Donegal Group from $17.00 to $18.00 and gave the stock a “market perform” rating in a research note on Friday, April 25th.

Hedge Funds Weigh In On Donegal Group

Institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. lifted its holdings in shares of Donegal Group by 46.0% in the 1st quarter. American Century Companies Inc. now owns 37,964 shares of the insurance provider’s stock valued at $745,000 after acquiring an additional 11,958 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Donegal Group by 47.4% in the 1st quarter. Russell Investments Group Ltd. now owns 5,225 shares of the insurance provider’s stock valued at $103,000 after purchasing an additional 1,681 shares during the last quarter. Informed Momentum Co LLC purchased a new position in shares of Donegal Group in the 1st quarter worth approximately $1,039,000. Nuveen LLC bought a new position in shares of Donegal Group during the 1st quarter valued at approximately $556,000. Finally, Invesco Ltd. raised its holdings in Donegal Group by 18.4% during the 1st quarter. Invesco Ltd. now owns 40,999 shares of the insurance provider’s stock valued at $805,000 after buying an additional 6,377 shares during the period. 27.96% of the stock is owned by hedge funds and other institutional investors.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.