Donegal Group Inc. (NASDAQ:DGICA) VP Sanjay Pandey Sells 12,982 Shares

Donegal Group Inc. (NASDAQ:DGICA) VP Sanjay Pandey sold 12,982 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $20.27, for a total value of $263,145.14. Following the sale, the vice president now directly owns 7,449 shares in the company, valued at approximately $150,991.23. This trade represents a 63.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Sanjay Pandey also recently made the following trade(s):

• On Thursday, March 13th, Sanjay Pandey sold 5,915 shares of Donegal Group stock. The shares were sold at an average price of $18.01, for a total value of $106,529.15.

Donegal Group Stock Down 1.2%

DGICA opened at $20.61 on Wednesday. The company has a fifty day moving average of $19.02 and a two-hundred day moving average of $16.90. The stock has a market capitalization of $743.96 million, a price-to-earnings ratio of 13.56 and a beta of -0.05. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $21.12. 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 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 firm had revenue of $245.57 million during the quarter, compared to analyst estimates of $248.73 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. On average, research analysts expect that Donegal Group Inc. will post 1.2 earnings per share for the current year.

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a $0.1825 dividend. The ex-dividend date was Thursday, May 1st. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.54%. Donegal Group’s payout ratio is 35.61%.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised 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.

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.