Donegal Group (NASDAQ:DGICA) Director Sells $57,030.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) Director Michael Kevin Callahan sold 3,000 shares of the business’s stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $19.01, for a total transaction of $57,030.00. Following the sale, the director directly owned 17,708 shares of the company’s stock, valued at approximately $336,629.08. The trade was a 14.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Donegal Group Stock Performance

Shares of NASDAQ:DGICA traded up $0.10 during midday trading on Friday, hitting $19.06. The company had a trading volume of 40,492 shares, compared to its average volume of 123,208. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.40 and a quick ratio of 0.39. The company has a market cap of $707.51 million, a price-to-earnings ratio of 10.19 and a beta of -0.03. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The company has a fifty day moving average of $18.67 and a two-hundred day moving average of $18.15.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. Donegal Group had a return on equity of 10.45% and a net margin of 7.24%. The company had revenue of $237.66 million for the quarter, compared to the consensus estimate of $214.12 million. On average, equities research analysts expect that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a $0.1925 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. Donegal Group’s dividend payout ratio (DPR) is 41.18%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. First Trust Advisors LP raised its holdings in Donegal Group by 31.7% during the third quarter. First Trust Advisors LP now owns 74,434 shares of the insurance provider’s stock valued at $1,324,000 after acquiring an additional 17,915 shares during the period. Virtus Advisers LLC boosted its stake in shares of Donegal Group by 16.8% in the third quarter. Virtus Advisers LLC now owns 9,866 shares of the insurance provider’s stock worth $176,000 after acquiring an additional 1,417 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Donegal Group by 68.7% in the third quarter. Russell Investments Group Ltd. now owns 22,747 shares of the insurance provider’s stock worth $405,000 after acquiring an additional 9,266 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Donegal Group by 6.7% during the third quarter. Commonwealth Equity Services LLC now owns 21,290 shares of the insurance provider’s stock worth $379,000 after purchasing an additional 1,336 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Donegal Group during the third quarter worth about $177,000. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DGICA. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. Zacks Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.00.

Donegal Group Company Profile

Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.