William Daniel Delamater Sells 8,696 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) EVP William Daniel Delamater sold 8,696 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $19.78, for a total transaction of $172,006.88. Following the transaction, the executive vice president now directly owns 1,495 shares of the company’s stock, valued at $29,571.10. The trade was a 85.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

William Daniel Delamater also recently made the following trade(s):

• On Wednesday, May 21st, William Daniel Delamater sold 304 shares of Donegal Group stock. The stock was sold at an average price of $20.50, for a total transaction of $6,232.00.
• On Tuesday, March 4th, William Daniel Delamater sold 12,000 shares of Donegal Group stock. The stock was sold at an average price of $17.77, for a total transaction of $213,240.00.

Donegal Group Price Performance

NASDAQ:DGICA opened at $20.29 on Wednesday. The company has a 50-day moving average of $19.18 and a 200-day moving average of $17.06. The company has a market capitalization of $732.41 million, a price-to-earnings ratio of 13.35 and a beta of -0.05. Donegal Group Inc. has a 52 week low of $12.26 and a 52 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 released its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.38. The company had revenue of $245.57 million during the quarter, compared to the consensus estimate of $248.73 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. As a group, equities research analysts anticipate that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The company also recently announced 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 was Thursday, May 1st. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.60%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio (DPR) is 35.61%.

Institutional Investors Weigh In On Donegal Group

Hedge funds have recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Donegal Group during the 4th quarter worth about $68,000. CWM LLC raised its stake 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 worth $101,000 after acquiring an additional 2,263 shares during the last quarter. Russell Investments Group Ltd. raised its stake 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 worth $103,000 after acquiring an additional 1,681 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Donegal Group in the fourth quarter worth about $128,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Donegal Group by 117.2% in the fourth quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock worth $130,000 after acquiring an additional 4,544 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

Analyst Ratings Changes

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 report on Friday, April 25th.

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.