Charles Schwab Investment Management Inc. Sells 2,275 Shares of Donegal Group Inc. (NASDAQ:DGICA)

Charles Schwab Investment Management Inc. trimmed its holdings in Donegal Group Inc. (NASDAQ:DGICA) by 5.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 42,719 shares of the insurance provider’s stock after selling 2,275 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Donegal Group were worth $630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Foundry Partners LLC boosted its holdings in Donegal Group by 1.0% in the third quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock valued at $3,605,000 after acquiring an additional 2,310 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Donegal Group by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock valued at $1,669,000 after purchasing an additional 5,416 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Donegal Group by 82.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock valued at $1,551,000 after purchasing an additional 47,447 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Donegal Group by 95.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after purchasing an additional 19,707 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Donegal Group during the second quarter worth approximately $448,000. Institutional investors and hedge funds own 27.96% of the company’s stock.

Donegal Group Trading Down 2.6 %

NASDAQ DGICA opened at $15.76 on Thursday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $17.00. The company has a market capitalization of $534.20 million, a PE ratio of 20.74 and a beta of -0.03. The stock has a 50-day simple moving average of $15.73 and a 200 day simple moving average of $14.65.

Donegal Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $0.172 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.37%. Donegal Group’s dividend payout ratio is 90.79%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th.

Insider Buying and Selling

In other news, CAO David Benjamin Bawel sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $15.50, for a total transaction of $139,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,665 shares of the company’s stock, valued at $304,807.50. This trade represents a 31.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sanjay Pandey sold 35,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $15.50, for a total transaction of $542,500.00. Following the completion of the sale, the vice president now directly owns 6,871 shares in the company, valued at approximately $106,500.50. This represents a 83.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 616,809 shares of company stock valued at $10,026,700 and have sold 379,564 shares valued at $6,212,273. 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.