Campbell & CO Investment Adviser LLC Acquires Shares of 46,879 Donegal Group, Inc. $DGICA

Campbell & CO Investment Adviser LLC bought a new position in Donegal Group, Inc. (NASDAQ:DGICA) during the second quarter, Holdings Channel.com reports. The institutional investor bought 46,879 shares of the insurance provider’s stock, valued at approximately $939,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC increased its holdings 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 purchasing an additional 2,263 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of 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 acquiring an additional 1,681 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Donegal Group by 566.5% during the 1st quarter. Deutsche Bank AG now owns 12,863 shares of the insurance provider’s stock worth $253,000 after acquiring an additional 10,933 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Donegal Group by 5.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,578 shares of the insurance provider’s stock worth $282,000 after acquiring an additional 703 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Donegal Group during the 2nd quarter valued at about $313,000. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DGICA. Weiss Ratings restated a “buy (b)” rating on shares of Donegal Group in a report on Wednesday, October 8th. Janney Montgomery Scott raised shares of Donegal Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 2nd. Wall Street Zen cut shares of Donegal Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Zacks Research upgraded shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $18.00.

Insider Transactions at Donegal Group

In other news, major shareholder Mutual Insurance Co Donegal purchased 20,000 shares of the stock in a transaction on Friday, August 29th. The stock was bought at an average price of $17.84 per share, for a total transaction of $356,800.00. Following the acquisition, the insider directly owned 13,500,977 shares of the company’s stock, valued at approximately $240,857,429.68. The trade was a 0.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 244,255 shares of company stock valued at $4,566,805 in the last ninety days. 6.63% of the stock is owned by insiders.

Donegal Group Trading Up 0.6%

NASDAQ:DGICA opened at $19.89 on Friday. The firm has a market cap of $726.16 million, a PE ratio of 8.36 and a beta of 0.01. The stock has a fifty day moving average price of $19.23 and a 200 day moving average price of $18.95. Donegal Group, Inc. has a 12-month low of $14.17 and a 12-month high of $21.12. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.15. The company had revenue of $245.92 million for the quarter, compared to the consensus estimate of $244.19 million. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%. Sell-side analysts anticipate that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be issued 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 dividend payout ratio (DPR) is 30.17%.

Donegal Group 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.