Donegal Group (NASDAQ:DGICA) VP Kristi Spencer Altshuler Sells 12,000 Shares

Donegal Group, Inc. (NASDAQ:DGICA) VP Kristi Spencer Altshuler sold 12,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $20.25, for a total value of $243,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Donegal Group Stock Down 0.8%

Shares of NASDAQ:DGICA traded down $0.15 during midday trading on Wednesday, reaching $19.72. The company had a trading volume of 21,978 shares, compared to its average volume of 129,562. The stock has a market capitalization of $722.54 million, a P/E ratio of 8.15 and a beta of 0.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39. Donegal Group, Inc. has a one year low of $14.17 and a one year high of $21.12. The stock’s fifty day moving average price is $19.40 and its 200-day moving average price is $18.95.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.37 by $0.15. Donegal Group had a net margin of 8.72% and a return on equity of 14.28%. The business had revenue of $245.92 million for the quarter, compared to analysts’ expectations of $244.19 million. Equities research analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were paid a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, November 3rd. Donegal Group’s dividend payout ratio is presently 30.17%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Zacks Research raised shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Janney Montgomery Scott raised Donegal Group from a “neutral” rating to a “buy” rating in a report on Tuesday, September 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Donegal Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Donegal Group currently has a consensus rating of “Buy” and an average price target of $18.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in Donegal Group in the third quarter worth approximately $26,000. Allworth Financial LP lifted its stake in Donegal Group by 477.2% in the second quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 2,448 shares during the last quarter. Versant Capital Management Inc grew its position in Donegal Group by 79.1% in the third quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock worth $58,000 after acquiring an additional 1,329 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Donegal Group by 422.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after acquiring an additional 2,975 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Donegal Group by 443.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after purchasing an additional 4,022 shares during the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

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.