Insider Selling: Donegal Group Inc. (NASDAQ:DGICA) SVP Sells 6,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) SVP David Wayne Sponic sold 6,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $17.99, for a total value of $107,940.00. Following the sale, the senior vice president now owns 2,006 shares of the company’s stock, valued at approximately $36,087.94. This represents a 74.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Donegal Group Trading Down 0.5 %

Donegal Group stock opened at $17.90 on Friday. The business has a 50-day simple moving average of $15.42 and a two-hundred day simple moving average of $15.39. The company has a market cap of $606.74 million, a P/E ratio of 11.78 and a beta of -0.05. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $18.19. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.39. The company had revenue of $249.70 million during the quarter, compared to the consensus estimate of $250.61 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. Analysts predict that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were paid a dividend of $0.1725 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.85%. Donegal Group’s payout ratio is 45.39%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in Donegal Group by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,804,968 shares of the insurance provider’s stock worth $27,923,000 after purchasing an additional 27,213 shares during the period. Renaissance Technologies LLC boosted its stake in Donegal Group by 29.5% in the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock worth $6,638,000 after purchasing an additional 97,795 shares during the period. Geode Capital Management LLC raised its holdings in Donegal Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock valued at $5,371,000 after buying an additional 4,933 shares during the period. Foundry Partners LLC raised its holdings in Donegal Group by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock valued at $3,605,000 after buying an additional 2,310 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Donegal Group by 124.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider’s stock worth $3,647,000 after buying an additional 130,489 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors.

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.