Los Angeles Capital Management LLC Acquires 39,235 Shares of Donegal Group, Inc. $DGICA

Los Angeles Capital Management LLC boosted its holdings in shares of Donegal Group, Inc. (NASDAQ:DGICA) by 150.2% in the second quarter, HoldingsChannel reports. The firm owned 65,352 shares of the insurance provider’s stock after acquiring an additional 39,235 shares during the period. Los Angeles Capital Management LLC’s holdings in Donegal Group were worth $1,309,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of DGICA. Teacher Retirement System of Texas grew its holdings in shares of Donegal Group by 78.7% during the second quarter. Teacher Retirement System of Texas now owns 191,376 shares of the insurance provider’s stock worth $3,832,000 after purchasing an additional 84,263 shares during the last quarter. Informed Momentum Co LLC acquired a new position in Donegal Group during the 1st quarter worth about $1,039,000. Acadian Asset Management LLC grew its holdings in Donegal Group by 40.9% during the 1st quarter. Acadian Asset Management LLC now owns 158,823 shares of the insurance provider’s stock worth $3,115,000 after acquiring an additional 46,095 shares during the last quarter. Inspire Investing LLC bought a new stake in Donegal Group during the 1st quarter worth about $825,000. Finally, Trexquant Investment LP acquired a new stake in Donegal Group in the 1st quarter valued at about $797,000. Institutional investors and hedge funds own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Donegal Group Trading Up 0.3%

DGICA opened at $19.78 on Thursday. The firm has a 50 day simple moving average of $19.22 and a 200 day simple moving average of $18.94. Donegal Group, Inc. has a fifty-two week low of $14.17 and a fifty-two week high of $21.12. The company has a market cap of $722.15 million, a price-to-earnings ratio of 8.31 and a beta of 0.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.40 and a quick ratio of 0.40.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, October 30th. The insurance provider reported $0.52 EPS for the quarter, topping 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 net margin of 8.33% and a return on equity of 14.33%. On average, sell-side analysts anticipate that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be paid a dividend of $0.1825 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.7%. Donegal Group’s payout ratio is 30.17%.

Insiders Place Their Bets

In related news, Director Jon Marshall Mahan sold 4,500 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $19.07, for a total value of $85,815.00. Following the completion of the sale, the director owned 9,488 shares in the company, 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 SEC, which can be accessed through this link. Also, major shareholder Mutual Insurance Co Donegal bought 7,297 shares of Donegal Group stock in a transaction on Tuesday, November 11th. The shares were bought at an average price of $19.66 per share, for a total transaction of $143,459.02. Following the acquisition, the insider owned 13,701,876 shares of the company’s stock, valued at approximately $269,378,882.16. The trade was a 0.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 244,255 shares of company stock valued at $4,566,805. 6.63% of the stock is owned by insiders.

Donegal Group Profile

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.