Sierra Summit Advisors LLC Purchases New Stake in Donegal Group, Inc. $DGICA

Sierra Summit Advisors LLC acquired a new position in shares of Donegal Group, Inc. (NASDAQ:DGICA) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 41,188 shares of the insurance provider’s stock, valued at approximately $799,000. Sierra Summit Advisors LLC owned about 0.11% of Donegal Group at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. ProShare Advisors LLC acquired a new position in shares of Donegal Group during the second quarter valued at approximately $6,343,000. CSM Advisors LLC bought a new position in Donegal Group during the 2nd quarter valued at $3,699,000. American Century Companies Inc. increased its position in shares of Donegal Group by 294.1% during the 2nd quarter. American Century Companies Inc. now owns 149,611 shares of the insurance provider’s stock valued at $2,996,000 after purchasing an additional 111,647 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Donegal Group by 33.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider’s stock worth $7,132,000 after buying an additional 88,462 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Donegal Group by 157.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 131,574 shares of the insurance provider’s stock worth $2,635,000 after buying an additional 80,395 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.

Donegal Group Stock Performance

NASDAQ DGICA opened at $17.62 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39. The company’s fifty day moving average is $19.00 and its two-hundred day moving average is $19.14. Donegal Group, Inc. has a 52-week low of $16.50 and a 52-week high of $21.12. The firm has a market capitalization of $645.60 million, a price-to-earnings ratio of 8.05 and a beta of 0.05.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, February 19th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). Donegal Group had a return on equity of 12.99% and a net margin of 8.11%.The business had revenue of $240.14 million during the quarter, compared to analyst estimates of $241.10 million. Equities research analysts forecast that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 3rd were paid a $0.1825 dividend. The ex-dividend date of this dividend was Tuesday, February 3rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 4.1%. Donegal Group’s payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

Several analysts have issued reports on DGICA shares. Keefe, Bruyette & Woods decreased their price objective on Donegal Group from $21.00 to $19.50 and set a “market perform” rating for the company in a research report on Friday, February 20th. Weiss Ratings restated a “buy (b)” rating on shares of Donegal Group in a report on Wednesday, January 21st. Finally, Zacks Research lowered shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.50.

Insider Buying and Selling

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal purchased 28,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was acquired at an average cost of $19.81 per share, with a total value of $554,680.00. Following the completion of the purchase, the insider directly owned 13,890,885 shares in the company, valued at approximately $275,178,431.85. This represents a 0.20% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders acquired 78,343 shares of company stock valued at $1,549,745. 3.48% of the stock is currently owned by company insiders.

Donegal Group Company Profile

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.