Donegal Group Inc. (NASDAQ:DGICA) Insider Kevin Gerard Burke Sells 27,000 Shares

Donegal Group Inc. (NASDAQ:DGICA) insider Kevin Gerard Burke sold 27,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $19.83, for a total transaction of $535,410.00. Following the transaction, the insider now owns 11,672 shares in the company, valued at approximately $231,455.76. This trade represents a 69.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Donegal Group Stock Down 0.2%

Shares of Donegal Group stock opened at $19.78 on Wednesday. The company has a market cap of $704.94 million, a price-to-earnings ratio of 13.01 and a beta of -0.05. The company’s 50 day moving average is $18.76 and its 200 day moving average is $16.72. Donegal Group Inc. has a twelve month low of $12.26 and a twelve month high of $20.51. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, April 24th. The insurance provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.38. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. The business had revenue of $245.57 million during the quarter, compared to analysts’ expectations of $248.73 million. Research analysts anticipate 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 issued a dividend of $0.1825 per share. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. 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. Donegal Group’s dividend payout ratio is currently 35.61%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their price objective 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.

Institutional Trading of Donegal Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DGICA. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Donegal Group by 124.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider’s stock valued at $3,647,000 after buying an additional 130,489 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Donegal Group by 29.5% in the fourth quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock worth $6,638,000 after purchasing an additional 97,795 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Donegal Group by 351.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider’s stock worth $1,670,000 after purchasing an additional 84,029 shares in the last quarter. Millennium Management LLC increased its stake in shares of Donegal Group by 170.8% in the fourth quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider’s stock worth $1,598,000 after purchasing an additional 65,146 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Donegal Group by 137.8% in the fourth quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider’s stock worth $1,615,000 after purchasing an additional 60,491 shares in the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

Donegal Group Company 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.