Donegal Group Inc. (NASDAQ:DGICA) VP Sanjay Pandey Sells 12,982 Shares

Donegal Group Inc. (NASDAQ:DGICA) VP Sanjay Pandey sold 12,982 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $20.27, for a total value of $263,145.14. Following the completion of the transaction, the vice president now directly owns 7,449 shares in the company, valued at approximately $150,991.23. This trade represents a 63.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Sanjay Pandey also recently made the following trade(s):

• On Thursday, March 13th, Sanjay Pandey sold 5,915 shares of Donegal Group stock. The stock was sold at an average price of $18.01, for a total value of $106,529.15.

Donegal Group Price Performance

Shares of NASDAQ:DGICA opened at $20.86 on Tuesday. 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 Inc. has a twelve month low of $12.26 and a twelve month high of $20.90. The stock’s 50 day moving average is $18.97 and its 200-day moving average is $16.88. The firm has a market capitalization of $752.98 million, a price-to-earnings ratio of 13.72 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last released its quarterly 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. The business had revenue of $245.57 million during the quarter, compared to analyst estimates of $248.73 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. Sell-side analysts forecast that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.1825 per share. The ex-dividend date of this dividend was Thursday, May 1st. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 3.50%. Donegal Group’s dividend payout ratio (DPR) is currently 35.61%.

Institutional Investors Weigh In On Donegal Group

Several large investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in shares of Donegal Group during the 1st quarter valued at $689,000. Empowered Funds LLC increased its position in shares of Donegal Group by 1.9% during the 1st quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock valued at $1,802,000 after purchasing an additional 1,696 shares during the last quarter. Ascent Group LLC purchased a new stake in shares of Donegal Group during the 1st quarter valued at $424,000. Goldman Sachs Group Inc. increased its position in shares of Donegal Group by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock valued at $2,155,000 after purchasing an additional 8,004 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Donegal Group by 139.8% during the 1st quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock valued at $774,000 after purchasing an additional 22,978 shares during the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.