Donegal Group (NASDAQ:DGICA) SVP Rick Joseph Hecker Sells 900 Shares

Donegal Group, Inc. (NASDAQ:DGICA) SVP Rick Joseph Hecker sold 900 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $19.74, for a total value of $17,766.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Donegal Group Price Performance

Shares of Donegal Group stock traded down $0.01 during trading on Friday, hitting $19.88. The stock had a trading volume of 46,668 shares, compared to its average volume of 130,282. Donegal Group, Inc. has a 12 month low of $14.17 and a 12 month high of $21.12. The firm has a market cap of $725.80 million, a price-to-earnings ratio of 8.36 and a beta of 0.01. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average is $19.23 and its 200 day moving average is $18.95.

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

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be paid a dividend of $0.1825 per share. The ex-dividend date is Monday, November 3rd. This represents a $0.73 dividend on an annualized basis and a yield of 3.7%. Donegal Group’s payout ratio is presently 30.17%.

Institutional Trading of Donegal Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ProShare Advisors LLC purchased a new stake in Donegal Group during the second quarter worth about $6,343,000. CSM Advisors LLC acquired a new stake in shares of Donegal Group in the 2nd quarter valued at about $3,699,000. American Century Companies Inc. increased its stake in Donegal Group by 294.1% in the second quarter. American Century Companies Inc. now owns 149,611 shares of the insurance provider’s stock valued at $2,996,000 after purchasing an additional 111,647 shares during the period. Two Sigma Investments LP increased its holdings in shares of Donegal Group by 139.8% in the third quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock valued at $2,956,000 after purchasing an additional 88,878 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Donegal Group by 33.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider’s stock valued at $7,132,000 after acquiring an additional 88,462 shares in the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DGICA shares. Zacks Research raised shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. 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 downgraded Donegal Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $18.00.

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.