Donegal Group Inc. (NASDAQ:DGICA) SVP Sells $107,940.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) SVP David Wayne Sponic sold 6,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $17.99, for a total transaction of $107,940.00. Following the sale, the senior vice president now directly owns 2,006 shares in the company, valued at $36,087.94. This trade represents a 74.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Donegal Group Stock Performance

Shares of DGICA stock opened at $17.90 on Monday. Donegal Group Inc. has a one year low of $12.26 and a one year high of $18.19. The company’s 50-day moving average is $15.42 and its 200 day moving average is $15.40. The company has a market capitalization of $606.74 million, a price-to-earnings ratio of 11.78 and a beta of -0.04. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.39. The business had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. Sell-side analysts expect that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were paid a dividend of $0.1725 per share. The ex-dividend date was Tuesday, February 4th. This represents a $0.69 annualized dividend and a yield of 3.85%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is currently 45.39%.

Hedge Funds Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Donegal Group by 82.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock worth $1,551,000 after purchasing an additional 47,447 shares during the period. Foundry Partners LLC lifted its stake in shares of Donegal Group by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock worth $3,605,000 after purchasing an additional 2,310 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Donegal Group by 39.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock worth $896,000 after purchasing an additional 17,125 shares during the period. Martingale Asset Management L P lifted its stake in shares of Donegal Group by 4.2% in the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock worth $329,000 after purchasing an additional 902 shares during the period. Finally, Barclays PLC lifted its stake in shares of Donegal Group by 38.7% in the 3rd quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock worth $957,000 after purchasing an additional 18,132 shares during the period. Institutional investors own 27.96% of the company’s stock.

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.