Donegal Group (NASDAQ:DGICA) Sets New 1-Year High – Here’s What Happened

Donegal Group Inc. (NASDAQ:DGICA) hit a new 52-week high during trading on Friday . The company traded as high as $20.85 and last traded at $20.60, with a volume of 50129 shares. The stock had previously closed at $20.44.

Analysts Set New Price Targets

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

Donegal Group Price Performance

The company has a market capitalization of $736.30 million, a price-to-earnings ratio of 13.59 and a beta of -0.05. The company has a fifty day simple moving average of $18.91 and a two-hundred day simple moving average of $16.82. 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 announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.38. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. The business had revenue of $245.57 million during the quarter, compared to the consensus estimate of $248.73 million. As a group, research analysts anticipate that Donegal Group Inc. will post 1.2 earnings per share for the current year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a dividend of $0.1825 per share. The ex-dividend date was Thursday, May 1st. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.53%. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is currently 35.61%.

Insider Transactions at Donegal Group

In other Donegal Group news, VP William Albert Folmar sold 4,274 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.82, for a total transaction of $84,710.68. Following the completion of the sale, the vice president now owns 950 shares of the company’s stock, valued at approximately $18,829. The trade was a 81.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO David Benjamin Bawel sold 9,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $19.83, for a total value of $178,470.00. Following the completion of the transaction, the chief accounting officer now owns 20,417 shares in the company, valued at approximately $404,869.11. This trade represents a 30.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 213,147 shares of company stock worth $3,975,328 and have sold 151,688 shares worth $2,913,186. Insiders own 6.63% of the company’s stock.

Institutional Trading of Donegal Group

A number of institutional investors have recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Donegal Group during the fourth quarter valued at approximately $68,000. CWM LLC grew its holdings in Donegal Group by 78.0% during the 1st quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 2,263 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Donegal Group by 47.4% during the 1st quarter. Russell Investments Group Ltd. now owns 5,225 shares of the insurance provider’s stock worth $103,000 after buying an additional 1,681 shares during the period. SG Americas Securities LLC acquired a new position in Donegal Group in the 4th quarter worth $128,000. Finally, BNP Paribas Financial Markets lifted its holdings in Donegal Group by 117.2% in the 4th quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock worth $130,000 after buying an additional 4,544 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Donegal Group Company Profile

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.