Insider Selling: Donegal Group (NASDAQ:DGICA) Director Sells 4,500 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) Director Kevin Michael Sr Kraft, Sr. sold 4,500 shares of Donegal Group stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $20.02, for a total transaction of $90,090.00. Following the transaction, the director directly owned 13,436 shares of the company’s stock, valued at approximately $268,988.72. This trade represents a 25.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Donegal Group Stock Performance

DGICA traded up $0.14 during midday trading on Wednesday, hitting $20.24. 23,006 shares of the company traded hands, compared to its average volume of 129,734. The company’s 50-day moving average is $19.32 and its 200 day moving average is $18.95. The firm has a market capitalization of $741.71 million, a PE ratio of 8.51 and a beta of 0.01. Donegal Group, Inc. has a 52 week low of $14.17 and a 52 week high of $21.12. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06.

Donegal Group (NASDAQ:DGICA) last announced its 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 company had revenue of $245.92 million for the quarter, compared to analysts’ expectations of $244.19 million. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%. On average, research analysts expect that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were given a dividend of $0.1825 per share. This represents a $0.73 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, November 3rd. Donegal Group’s dividend payout ratio (DPR) is 30.17%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC grew its position in shares of Donegal Group by 78.0% during the 1st quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock worth $101,000 after buying an additional 2,263 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Donegal Group during the 1st quarter valued at about $489,000. XTX Topco Ltd raised its holdings in shares of Donegal Group by 56.8% in the 1st quarter. XTX Topco Ltd now owns 16,387 shares of the insurance provider’s stock valued at $322,000 after purchasing an additional 5,935 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Donegal Group by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 946,432 shares of the insurance provider’s stock worth $18,578,000 after purchasing an additional 19,174 shares during the period. Finally, Deutsche Bank AG lifted its position in shares of Donegal Group by 566.5% in the 1st quarter. Deutsche Bank AG now owns 12,863 shares of the insurance provider’s stock worth $253,000 after purchasing an additional 10,933 shares during the period. Institutional investors own 27.96% of the company’s stock.

Analysts Set New Price Targets

DGICA has been the subject of several research reports. Janney Montgomery Scott raised shares of Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. Wall Street Zen lowered Donegal Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Zacks Research raised Donegal Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Donegal Group has an average rating of “Buy” and a consensus 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.