Barry Craig Huber Sells 4,500 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) Director Barry Craig Huber sold 4,500 shares of Donegal Group stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $19.43, for a total value of $87,435.00. Following the completion of the transaction, the director directly owned 16,567 shares of the company’s stock, valued at $321,896.81. This represents a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Donegal Group Stock Up 0.2%

Shares of NASDAQ DGICA opened at $19.45 on Friday. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The firm’s 50-day simple moving average is $18.99 and its 200 day simple moving average is $17.93. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a market cap of $721.98 million, a price-to-earnings ratio of 10.08 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.11. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The firm had revenue of $241.12 million during the quarter, compared to analysts’ expectations of $231.53 million. On average, research analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.1925 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.0%. Donegal Group’s dividend payout ratio (DPR) is currently 39.90%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its stake in shares of Donegal Group by 139.8% during the first quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock worth $774,000 after buying an additional 22,978 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Donegal Group by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock valued at $2,155,000 after buying an additional 8,004 shares during the period. Empowered Funds LLC boosted its stake in Donegal Group by 1.9% in the first quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock valued at $1,802,000 after acquiring an additional 1,696 shares during the last quarter. Jane Street Group LLC bought a new position in Donegal Group in the first quarter valued at approximately $689,000. Finally, Rhumbline Advisers boosted its stake in Donegal Group by 22.3% in the second quarter. Rhumbline Advisers now owns 32,824 shares of the insurance provider’s stock valued at $657,000 after acquiring an additional 5,981 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DGICA shares. Weiss Ratings upgraded shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. Keefe, Bruyette & Woods increased their price objective on Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.00.

About Donegal Group

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.