Donegal Group (NASDAQ:DGICA) Hits New 52-Week High – Time to Buy?

Shares of Donegal Group Inc. (NASDAQ:DGICA) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $18.95 and last traded at $18.82, with a volume of 37493 shares trading hands. The stock had previously closed at $18.33.

Donegal Group Stock Performance

The firm has a market cap of $691.75 million, a P/E ratio of 12.77 and a beta of -0.04. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The stock’s 50-day moving average is $16.38 and its 200 day moving average is $15.71.

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

Insider Buying and Selling at Donegal Group

In related news, EVP William Daniel Delamater sold 12,000 shares of Donegal Group stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $17.77, for a total transaction of $213,240.00. Following the completion of the sale, the executive vice president now owns 1,495 shares of the company’s stock, valued at approximately $26,566.15. The trade was a 88.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Mutual Insurance Co Donegal purchased 8,000 shares of the stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $18.14 per share, for a total transaction of $145,120.00. Following the completion of the acquisition, the insider now owns 13,334,382 shares in the company, valued at approximately $241,885,689.48. This trade represents a 0.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 105,908 shares of company stock worth $1,865,086 and have sold 47,119 shares worth $845,651. Company insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Donegal Group

A number of large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in Donegal Group during the 4th quarter worth $173,000. Public Employees Retirement System of Ohio increased its position in Donegal Group by 167.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 12,905 shares of the insurance provider’s stock worth $200,000 after acquiring an additional 8,071 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Donegal Group by 9.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,254 shares of the insurance provider’s stock worth $1,025,000 after purchasing an additional 5,487 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Donegal Group by 15.4% during the 4th quarter. Squarepoint Ops LLC now owns 41,810 shares of the insurance provider’s stock worth $647,000 after purchasing an additional 5,568 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of Donegal Group by 7.4% during the fourth quarter. Two Sigma Advisers LP now owns 49,200 shares of the insurance provider’s stock worth $761,000 after purchasing an additional 3,400 shares during the period. Institutional investors own 27.96% of the company’s stock.

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.