Donegal Group (NASDAQ:DGICA) Director Jon Marshall Mahan Sells 4,500 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) Director Jon Marshall Mahan sold 4,500 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $19.07, for a total value of $85,815.00. Following the transaction, the director owned 9,488 shares of the company’s stock, valued at approximately $180,936.16. This represents a 32.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Donegal Group Trading Up 2.3%

DGICA opened at $19.26 on Thursday. Donegal Group, Inc. has a 52 week low of $14.17 and a 52 week high of $21.12. The business has a fifty day simple moving average of $19.08 and a 200-day simple moving average of $18.92. The firm has a market cap of $703.16 million and a P/E ratio of 8.09. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. The firm had revenue of $245.55 million during the quarter, compared to analyst estimates of $244.19 million. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%. On average, equities analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be issued a $0.1825 dividend. The ex-dividend date is Monday, November 3rd. This represents a $0.73 dividend on an annualized basis and a yield of 3.8%. Donegal Group’s dividend payout ratio (DPR) is 30.17%.

Hedge Funds Weigh In On Donegal Group

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Donegal Group by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 946,432 shares of the insurance provider’s stock valued at $18,578,000 after purchasing an additional 19,174 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Donegal Group by 6.6% during the 2nd quarter. Geode Capital Management LLC now owns 409,082 shares of the insurance provider’s stock worth $8,193,000 after acquiring an additional 25,259 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Donegal Group by 33.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider’s stock valued at $7,132,000 after buying an additional 88,462 shares in the last quarter. ProShare Advisors LLC lifted its stake in Donegal Group by 5.0% in the 3rd quarter. ProShare Advisors LLC now owns 332,503 shares of the insurance provider’s stock valued at $6,447,000 after buying an additional 15,765 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Donegal Group by 9.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 208,922 shares of the insurance provider’s stock valued at $4,051,000 after buying an additional 17,546 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DGICA. Janney Montgomery Scott upgraded Donegal Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, October 8th. Wall Street Zen cut Donegal Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Zacks Research upgraded Donegal Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $18.00.

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.