William Daniel Delamater Sells 9,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) EVP William Daniel Delamater sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $17.63, for a total value of $158,670.00. Following the transaction, the executive vice president directly owned 2,012 shares in the company, valued at approximately $35,471.56. This represents a 81.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Donegal Group Stock Performance

NASDAQ:DGICA opened at $17.52 on Friday. The firm has a market capitalization of $641.93 million, a PE ratio of 8.00 and a beta of 0.05. The stock’s fifty day moving average is $18.75 and its 200 day moving average is $19.12. Donegal Group, Inc. has a fifty-two week low of $16.50 and a fifty-two week high of $21.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, February 19th. The insurance provider reported $0.50 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 firm had revenue of $240.14 million for the quarter, compared to analysts’ expectations of $241.10 million. On average, sell-side analysts anticipate that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd were paid a dividend of $0.1825 per share. 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 4.2%. Donegal Group’s payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DGICA. Weiss Ratings reissued a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods dropped their target price 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. Finally, Zacks Research cut Donegal Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Creative Planning grew its stake in Donegal Group by 22.5% in the second quarter. Creative Planning now owns 151,135 shares of the insurance provider’s stock valued at $3,026,000 after purchasing an additional 27,757 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Donegal Group by 13.1% during the second quarter. Acadian Asset Management LLC now owns 179,552 shares of the insurance provider’s stock valued at $3,591,000 after buying an additional 20,729 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Donegal Group in the 2nd quarter valued at about $939,000. Connor Clark & Lunn Investment Management Ltd. grew its position 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 during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Donegal Group by 294.1% in the 2nd quarter. American Century Companies Inc. now owns 149,611 shares of the insurance provider’s stock worth $2,996,000 after buying an additional 111,647 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

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.