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

Los Angeles Capital Management LLC grew its holdings in Donegal Group, Inc. (NASDAQ:DGICA) by 150.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,352 shares of the insurance provider’s stock after purchasing an additional 39,235 shares during the quarter. Los Angeles Capital Management LLC owned about 0.18% of Donegal Group worth $1,309,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. CWM LLC boosted its stake in Donegal Group by 78.0% during the 1st quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 2,263 shares during the period. Russell Investments Group Ltd. increased its position in Donegal Group by 47.4% in the 1st quarter. Russell Investments Group Ltd. now owns 5,225 shares of the insurance provider’s stock worth $103,000 after buying an additional 1,681 shares during the period. Deutsche Bank AG lifted its holdings in shares of Donegal Group by 566.5% during the first quarter. Deutsche Bank AG now owns 12,863 shares of the insurance provider’s stock worth $253,000 after buying an additional 10,933 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Donegal Group by 5.1% in 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 period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Donegal Group in the second quarter worth $313,000. Institutional investors and hedge funds own 27.96% of the company’s stock.

Donegal Group Price Performance

Shares of Donegal Group stock opened at $19.78 on Thursday. The firm has a market cap of $722.15 million, a P/E ratio of 8.31 and a beta of 0.01. The firm’s 50-day simple moving average is $19.22 and its 200-day simple moving average is $18.94. Donegal Group, Inc. has a twelve month low of $14.17 and a twelve month high of $21.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40.

Donegal Group (NASDAQ:DGICA) last announced its quarterly 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 analysts’ expectations of $244.19 million. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. As a group, research analysts expect that Donegal Group, Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Dividend Announcement

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

Analyst Upgrades and Downgrades

DGICA has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Donegal Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Zacks Research upgraded shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Janney Montgomery Scott upgraded Donegal Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 2nd. 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 stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $18.00.

Insider Buying and Selling at Donegal Group

In other Donegal Group news, Director Jon Marshall Mahan sold 4,500 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $19.07, for a total transaction of $85,815.00. Following the completion of the transaction, the director directly owned 9,488 shares in the company, valued at $180,936.16. This represents a 32.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 dated Tuesday, November 11th. The stock was purchased at an average price of $19.66 per share, for a total transaction of $143,459.02. Following the purchase, the insider directly owned 13,701,876 shares in the company, valued at $269,378,882.16. This represents a 0.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 244,255 shares of company stock worth $4,566,805. 6.63% of the stock is owned by insiders.

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.