Donegal Group Inc. (NASDAQ:DGICA) VP Sells $372,060.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) VP William Albert Folmar sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $20.67, for a total value of $372,060.00. Following the completion of the transaction, the vice president now owns 950 shares of the company’s stock, valued at $19,636.50. This represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

William Albert Folmar also recently made the following trade(s):

• On Wednesday, May 14th, William Albert Folmar sold 4,274 shares of Donegal Group stock. The stock was sold at an average price of $19.82, for a total transaction of $84,710.68.
• On Tuesday, May 13th, William Albert Folmar sold 12,576 shares of Donegal Group stock. The shares were sold at an average price of $19.90, for a total value of $250,262.40.
• On Monday, March 10th, William Albert Folmar sold 6,017 shares of Donegal Group stock. The shares were sold at an average price of $17.97, for a total transaction of $108,125.49.

Donegal Group Trading Down 2.7%

DGICA stock opened at $19.88 on Friday. The stock has a market cap of $717.61 million, a price-to-earnings ratio of 13.08 and a beta of -0.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The company has a fifty day moving average price of $19.09 and a two-hundred day moving average price of $16.96. Donegal Group Inc. has a one year low of $12.26 and a one year high of $21.12.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Equities analysts anticipate that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a dividend of $0.1825 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $0.73 dividend on an annualized basis and a yield of 3.67%. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is currently 35.61%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DGICA. Dimensional Fund Advisors LP raised its position in shares of Donegal Group by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,804,968 shares of the insurance provider’s stock valued at $27,923,000 after buying an additional 27,213 shares in the last quarter. Vanguard Group Inc. increased its stake in Donegal Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 946,432 shares of the insurance provider’s stock valued at $18,578,000 after acquiring an additional 19,174 shares during the last quarter. Renaissance Technologies LLC increased its stake in Donegal Group by 29.5% in the fourth quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock valued at $6,638,000 after acquiring an additional 97,795 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Donegal Group by 13.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 267,692 shares of the insurance provider’s stock valued at $5,255,000 after purchasing an additional 31,946 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Donegal Group by 0.4% during the fourth quarter. Wells Fargo & Company MN now owns 223,593 shares of the insurance provider’s stock valued at $3,459,000 after purchasing an additional 897 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their price target on Donegal Group from $17.00 to $18.00 and gave the stock a “market perform” rating in a research report 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.