Donegal Group (NASDAQ:DGICA) Director Jon Marshall Mahan Sells 4,500 Shares of Company Stock

Donegal Group, Inc. (NASDAQ:DGICA) Director Jon Mahan sold 4,500 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $19.39, for a total value of $87,255.00. Following the transaction, the director owned 10,688 shares of the company’s stock, valued at $207,240.32. This represents a 29.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Donegal Group Trading Down 0.7%

DGICA stock opened at $18.96 on Friday. The firm has a fifty day moving average price of $18.70 and a 200 day moving average price of $18.14. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $703.80 million, a PE ratio of 10.32 and a beta of -0.03.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. The company had revenue of $237.66 million for the quarter, compared to analysts’ expectations of $214.12 million. Donegal Group had a net margin of 7.24% and a return on equity of 10.49%. Sell-side analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, November 2nd. Donegal Group’s dividend payout ratio (DPR) is presently 41.18%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. Zacks Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.00.

Hedge Funds Weigh In On Donegal Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its position in shares of Donegal Group by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after purchasing an additional 80,614 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Donegal Group by 44.9% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 36,749 shares of the insurance provider’s stock valued at $631,000 after buying an additional 11,386 shares during the period. Hsbc Holdings PLC raised its holdings in Donegal Group by 26.3% during the 4th quarter. Hsbc Holdings PLC now owns 35,570 shares of the insurance provider’s stock valued at $710,000 after buying an additional 7,409 shares during the period. QRG Capital Management Inc. bought a new stake in Donegal Group in the first quarter worth $223,000. Finally, IFP Advisors Inc lifted its position in Donegal Group by 27.8% in the second quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock worth $174,000 after buying an additional 2,004 shares during the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Donegal Group Company Profile

Donegal Group Inc (NASDAQ: DGICA) is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.

Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers’ compensation coverage, along with other specialized property and casualty policies.

Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.