Donegal Group (NASDAQ:DGICA) Stock: Insider Sanjay Pandey Sells 1,070 Shares

Donegal Group, Inc. (NASDAQ:DGICA) VP Sanjay Pandey sold 1,070 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $19.52, for a total transaction of $20,886.40. Following the transaction, the vice president owned 8,697 shares of the company’s stock, valued at $169,765.44. This represents a 10.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Donegal Group Price Performance

DGICA opened at $18.97 on Wednesday. The firm has a 50-day moving average price of $18.68 and a 200-day moving average price of $18.14. Donegal Group, Inc. has a twelve month low of $16.11 and a twelve month high of $21.06. The company has a quick ratio of 0.39, a current ratio of 0.40 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 10.12 and a beta of -0.03.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Donegal Group had a net margin of 7.24% and a return on equity of 10.45%. The business had revenue of $237.66 million for the quarter, compared to analysts’ expectations of $214.12 million. Equities analysts expect that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, November 2nd. Donegal Group’s dividend payout ratio is 41.18%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DGICA shares. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. Zacks Research upgraded Donegal Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. One investment 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 stock presently has a consensus rating of “Hold” and an average price target of $20.00.

Institutional Trading of Donegal Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Donegal Group by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock worth $29,846,000 after purchasing an additional 7,345 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Donegal Group by 5.8% in the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock worth $6,747,000 after buying an additional 21,500 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Donegal Group by 41.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after acquiring an additional 80,614 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Donegal Group by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock valued at $2,862,000 after acquiring an additional 9,075 shares during the period. Finally, Pinnacle Associates Ltd. boosted its holdings in Donegal Group by 3.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider’s stock valued at $1,710,000 after acquiring an additional 3,264 shares during the period. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Donegal Group Company Profile

Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.