Christina Marie Hoffman Sells 11,000 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) VP Christina Marie Hoffman sold 11,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $19.83, for a total transaction of $218,130.00. Following the transaction, the vice president now owns 4,405 shares of the company’s stock, valued at approximately $87,351.15. The trade was a 71.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Donegal Group Price Performance

Shares of NASDAQ:DGICA opened at $19.78 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $704.94 million, a PE ratio of 13.01 and a beta of -0.05. Donegal Group Inc. has a twelve month low of $12.26 and a twelve month high of $20.51. The company has a 50-day moving average price of $18.76 and a two-hundred day moving average price of $16.72.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, April 24th. The insurance provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.38. The firm had revenue of $245.57 million during the quarter, compared to analyst estimates of $248.73 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. Equities analysts forecast that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Thursday, May 1st. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio (DPR) is currently 35.61%.

Hedge Funds Weigh In On Donegal Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS bought a new position in Donegal Group during the fourth quarter worth about $68,000. CWM LLC boosted its position in shares of Donegal Group by 78.0% in the first quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 2,263 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Donegal Group by 47.4% in the first quarter. Russell Investments Group Ltd. now owns 5,225 shares of the insurance provider’s stock valued at $103,000 after acquiring an additional 1,681 shares during the period. SG Americas Securities LLC bought a new position in shares of Donegal Group in the fourth quarter valued at approximately $128,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Donegal Group by 117.2% in the fourth quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock valued at $130,000 after acquiring an additional 4,544 shares during the period. Institutional investors own 27.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their price target on shares of Donegal Group from $17.00 to $18.00 and gave the company a “market perform” rating in a research report on Friday, April 25th.

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.