Insider Selling: Donegal Group (NASDAQ:DGICA) CAO Sells $13,742.86 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) CAO David Benjamin Bawel sold 674 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $20.39, for a total transaction of $13,742.86. Following the completion of the sale, the chief accounting officer directly owned 21,336 shares of the company’s stock, valued at $435,041.04. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Donegal Group Stock Performance

NASDAQ DGICA opened at $20.71 on Thursday. The company has a 50-day simple moving average of $19.57 and a two-hundred day simple moving average of $18.95. Donegal Group, Inc. has a 12-month low of $14.17 and a 12-month high of $21.12. The firm has a market cap of $758.81 million, a price-to-earnings ratio of 8.56 and a beta of 0.04. The company has a quick ratio of 0.39, a current ratio of 0.39 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 for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. The company had revenue of $245.92 million during the quarter, compared to analyst estimates of $244.19 million. Donegal Group had a return on equity of 14.28% and a net margin of 8.72%. On average, equities analysts forecast that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were paid a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, November 3rd. Donegal Group’s dividend payout ratio is 30.17%.

Institutional Trading of Donegal Group

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Donegal Group by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider’s stock worth $19,549,000 after purchasing an additional 39,181 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Donegal Group by 6.6% in the second quarter. Geode Capital Management LLC now owns 409,082 shares of the insurance provider’s stock worth $8,193,000 after buying an additional 25,259 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Donegal Group by 33.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider’s stock worth $7,132,000 after buying an additional 88,462 shares during the period. ProShare Advisors LLC boosted its position in Donegal Group by 5.0% during the 3rd quarter. ProShare Advisors LLC now owns 332,503 shares of the insurance provider’s stock valued at $6,447,000 after acquiring an additional 15,765 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of Donegal Group by 9.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 208,922 shares of the insurance provider’s stock worth $4,051,000 after acquiring an additional 17,546 shares during the period. Institutional investors own 27.96% of the company’s stock.

Analysts Set New Price Targets

DGICA has been the topic of several analyst reports. Janney Montgomery Scott raised shares of Donegal Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Donegal Group in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Donegal Group currently has a consensus rating of “Buy” and an average target price 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.