Donegal Group (NASDAQ:DGICA) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Donegal Group, Inc. (NASDAQ:DGICA) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.89 and traded as high as $19.06. Donegal Group shares last traded at $18.46, with a volume of 89,529 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Donegal Group Stock Performance

The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $18.64 and its 200 day simple moving average is $17.89. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 9.72 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.11. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The business had revenue of $241.12 million for the quarter, compared to analysts’ expectations of $231.53 million. As a group, analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.1925 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.77 dividend on an annualized basis and a yield of 4.2%. Donegal Group’s payout ratio is 39.90%.

Insider Buying and Selling

In related news, major shareholder Mutual Insurance Co Donegal bought 18,000 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was acquired at an average cost of $19.67 per share, with a total value of $354,060.00. Following the purchase, the insider directly owned 14,154,691 shares of the company’s stock, valued at $278,422,771.97. The trade was a 0.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Noland Rone Deas, Jr. sold 24,000 shares of Donegal Group stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.47, for a total value of $467,280.00. Following the transaction, the senior vice president owned 3,523 shares in the company, valued at approximately $68,592.81. This represents a 87.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have purchased 81,582 shares of company stock valued at $1,446,696 and have sold 51,000 shares valued at $995,310. 2.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Donegal Group

Institutional investors and hedge funds have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co raised its position in Donegal Group by 31.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 896 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Donegal Group by 8.9% during the third quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 1,000 shares in the last quarter. Strs Ohio boosted its position in shares of Donegal Group by 3.7% during the fourth quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock worth $565,000 after buying an additional 1,000 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of Donegal Group by 1.0% during the third quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider’s stock worth $2,576,000 after buying an additional 1,274 shares during the period. Finally, Mariner LLC grew its stake in shares of Donegal Group by 9.9% in the fourth quarter. Mariner LLC now owns 14,874 shares of the insurance provider’s stock valued at $297,000 after buying an additional 1,342 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Donegal Group Company Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.