Jeffrey Dean Miller Sells 21,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) CFO Jeffrey Miller sold 21,000 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $19.23, for a total value of $403,830.00. Following the transaction, the chief financial officer owned 27,176 shares of the company’s stock, valued at approximately $522,594.48. This represents a 43.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Donegal Group Stock Performance

DGICA traded up $0.02 during trading hours on Monday, hitting $19.38. The company’s stock had a trading volume of 27,742 shares, compared to its average volume of 125,350. The company has a 50-day simple moving average of $19.00 and a 200 day simple moving average of $17.97. 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 firm has a market capitalization of $1.28 billion, a PE ratio of 10.04 and a beta of -0.01. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The company had revenue of $241.12 million during the quarter, compared to analyst estimates of $231.53 million. As a group, sell-side analysts expect that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.1925 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.77 annualized dividend and a yield of 4.0%. Donegal Group’s dividend payout ratio is presently 39.90%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Keefe, Bruyette & Woods upped their price target on shares of Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Institutional Trading of Donegal Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP boosted its stake in Donegal Group by 579.4% during the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock valued at $3,394,000 after buying an additional 144,853 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Donegal Group by 41.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock worth $4,746,000 after acquiring an additional 80,614 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Donegal Group by 145.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 67,726 shares of the insurance provider’s stock valued at $1,245,000 after acquiring an additional 40,078 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Donegal Group by 443.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after purchasing an additional 4,022 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Donegal Group by 31.6% during the 4th 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 in the last quarter. Institutional investors own 27.96% of the company’s stock.

Donegal Group Company Profile

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of independent insurance agents. The company operates through regional insurance subsidiaries affiliated with Donegal Mutual Insurance Company and serves individuals, families, farms, and businesses.

Its personal insurance products generally include automobile, homeowners, dwelling fire, renters, and farmowners coverage. Donegal Group also offers commercial insurance, including businessowners policies, commercial automobile, commercial package, workers’ compensation, general liability, and related coverages.