Donegal Group Inc. (NASDAQ:DGICA) CFO Jeffrey Dean Miller Sells 85,000 Shares

Donegal Group Inc. (NASDAQ:DGICA) CFO Jeffrey Dean Miller sold 85,000 shares of Donegal Group stock in a transaction on Friday, December 6th. The shares were sold at an average price of $16.67, for a total transaction of $1,416,950.00. Following the completion of the transaction, the chief financial officer now directly owns 22,613 shares in the company, valued at $376,958.71. The trade was a 78.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Donegal Group Price Performance

Shares of DGICA traded down $0.03 during trading hours on Monday, reaching $16.46. The company had a trading volume of 46,480 shares, compared to its average volume of 61,568. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a 12-month low of $12.26 and a 12-month high of $17.00. The firm has a 50 day simple moving average of $15.45 and a 200-day simple moving average of $14.48. The company has a market capitalization of $557.99 million, a price-to-earnings ratio of 21.66 and a beta of -0.03.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $0.172 per share. The ex-dividend date was Friday, November 1st. This represents a $0.69 annualized dividend and a yield of 4.18%. Donegal Group’s dividend payout ratio (DPR) is currently 90.79%.

Analysts Set New Price Targets

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.

Hedge Funds Weigh In On Donegal Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DGICA. Vanguard Group Inc. increased its stake in shares of Donegal Group by 34.7% during the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after purchasing an additional 304,477 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Donegal Group by 82.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock valued at $1,551,000 after buying an additional 47,447 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Donegal Group during the second quarter worth $448,000. Los Angeles Capital Management LLC raised its holdings in shares of Donegal Group by 95.2% in the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock worth $520,000 after acquiring an additional 19,707 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Donegal Group by 38.7% in the third quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock valued at $957,000 after acquiring an additional 18,132 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

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.