Donegal Group (NASDAQ:DGICA) Shares Gap Down – Here’s Why

Shares of Donegal Group Inc. (NASDAQ:DGICA) gapped down before the market opened on Thursday . The stock had previously closed at $15.89, but opened at $15.00. Donegal Group shares last traded at $15.15, with a volume of 66,736 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th.

Donegal Group Price Performance

The company has a market capitalization of $528.65 million, a PE ratio of 21.01 and a beta of -0.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a 50 day moving average price of $15.02 and a two-hundred day moving average price of $14.13.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Friday, November 1st. Donegal Group’s dividend payout ratio (DPR) is presently 90.79%.

Insider Transactions at Donegal Group

In related news, VP Vincent Anthony Viozzi sold 30,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $15.24, for a total value of $457,200.00. Following the transaction, the vice president now directly owns 9,891 shares in the company, valued at approximately $150,738.84. This trade represents a 75.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Mutual Insurance Co Donegal purchased 10,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were purchased at an average price of $14.75 per share, with a total value of $147,500.00. Following the completion of the acquisition, the insider now directly owns 12,195,745 shares of the company’s stock, valued at approximately $179,887,238.75. This trade represents a 0.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 266,464 shares of company stock worth $4,097,079 and have sold 120,500 shares worth $1,870,450. 6.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Donegal Group

A number of institutional investors have recently made changes to their positions in the business. Martingale Asset Management L P boosted its stake in Donegal Group by 4.2% during the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after purchasing an additional 902 shares during the period. Innealta Capital LLC acquired a new stake in shares of Donegal Group in the second quarter worth $27,000. Hsbc Holdings PLC increased its position in Donegal Group by 7.8% during the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after acquiring an additional 2,250 shares during the period. Foundry Partners LLC raised its stake in Donegal Group by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock valued at $3,605,000 after purchasing an additional 2,310 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Donegal Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock valued at $5,371,000 after purchasing an additional 4,933 shares during the period. 27.96% of the stock is currently owned by institutional investors.

Donegal Group Company Profile

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.