Insider Selling: Donegal Group (NASDAQ:DGICA) Director Sells $85,815.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) Director Jon Marshall Mahan sold 4,500 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $19.07, for a total value of $85,815.00. Following the completion of the transaction, the director owned 9,488 shares of the company’s stock, valued at $180,936.16. The trade was a 32.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Donegal Group Trading Up 1.1%

Shares of DGICA stock opened at $19.24 on Friday. Donegal Group, Inc. has a twelve month low of $14.17 and a twelve month high of $21.12. The stock’s fifty day simple moving average is $19.13 and its 200 day simple moving average is $18.93. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $702.43 million, a P/E ratio of 8.08 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. The firm had revenue of $245.55 million for the quarter, compared to analyst estimates of $244.19 million. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%. As a group, sell-side analysts predict that Donegal Group, Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be given a dividend of $0.1825 per share. The ex-dividend date is Monday, November 3rd. This represents a $0.73 annualized dividend and a yield of 3.8%. Donegal Group’s dividend payout ratio (DPR) is currently 30.17%.

Analyst Ratings Changes

Several brokerages have issued reports on DGICA. 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 reiterated a “buy (b)” rating on shares of Donegal Group in a report on Wednesday, October 8th. Janney Montgomery Scott upgraded 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 investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $18.00.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors have recently modified their holdings of DGICA. Jump Financial LLC increased its position in shares of Donegal Group by 3.1% during the first quarter. Jump Financial LLC now owns 17,952 shares of the insurance provider’s stock worth $352,000 after buying an additional 533 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Donegal Group by 5.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,578 shares of the insurance provider’s stock valued at $282,000 after acquiring an additional 703 shares during the last quarter. CWM LLC grew its holdings in Donegal Group by 21.9% during the 2nd quarter. CWM LLC now owns 6,293 shares of the insurance provider’s stock worth $126,000 after acquiring an additional 1,130 shares during the period. Martingale Asset Management L P raised its position in shares of Donegal Group by 4.2% in the 1st quarter. Martingale Asset Management L P now owns 28,509 shares of the insurance provider’s stock worth $560,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Donegal Group by 79.1% in the 3rd quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock worth $58,000 after acquiring an additional 1,329 shares in the last quarter. 27.96% of the stock is owned by institutional investors.

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.