Donegal Group Inc. (NASDAQ:DGICA) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in Donegal Group Inc. (NASDAQ:DGICA) by 27.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 26,765 shares of the insurance provider’s stock after selling 10,238 shares during the quarter. JPMorgan Chase & Co.’s holdings in Donegal Group were worth $395,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Martingale Asset Management L P boosted its position in Donegal Group by 4.2% during the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock worth $329,000 after purchasing an additional 902 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Donegal Group by 7.8% during the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after purchasing an additional 2,250 shares in the last quarter. Foundry Partners LLC lifted its stake in shares of Donegal Group by 1.0% during the third quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock worth $3,605,000 after purchasing an additional 2,310 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Donegal Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock worth $5,371,000 after buying an additional 4,933 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Donegal Group by 39.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock valued at $896,000 after buying an additional 17,125 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

Analysts Set New Price Targets

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

Donegal Group Trading Down 0.5 %

NASDAQ DGICA opened at $14.69 on Thursday. The stock has a market cap of $497.93 million, a P/E ratio of 19.33 and a beta of -0.01. The company’s fifty day simple moving average is $15.54 and its 200-day simple moving average is $15.08. 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 52 week low of $12.26 and a 52 week high of $17.00.

Donegal Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th will be issued a $0.1725 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $0.69 dividend on an annualized basis and a yield of 4.70%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s payout ratio is currently 90.79%.

Insider Buying and Selling at Donegal Group

In other news, VP Christina Marie Hoffman sold 30,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $15.82, for a total transaction of $474,600.00. Following the completion of the transaction, the vice president now directly owns 4,289 shares in the company, valued at approximately $67,851.98. This represents a 87.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Sanjay Pandey sold 3,766 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $16.50, for a total transaction of $62,139.00. Following the sale, the vice president now directly owns 6,871 shares of the company’s stock, valued at $113,371.50. The trade was a 35.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 466,377 shares of company stock valued at $7,696,509 and sold 323,564 shares valued at $5,344,273. 6.63% of the stock is currently owned by corporate insiders.

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.