Insider Selling: Donegal Group Inc. (NASDAQ:DGICA) SVP Sells 6,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) SVP David Wayne Sponic sold 6,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $17.99, for a total transaction of $107,940.00. Following the transaction, the senior vice president now owns 2,006 shares in the company, valued at approximately $36,087.94. The trade was a 74.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Donegal Group Stock Performance

NASDAQ:DGICA opened at $17.90 on Friday. 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 firm’s 50-day moving average is $15.42 and its 200-day moving average is $15.40. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $18.19. The company has a market cap of $606.74 million, a price-to-earnings ratio of 11.78 and a beta of -0.05.

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

Donegal Group Increases Dividend

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

Institutional Trading of Donegal Group

Institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. boosted its position in Donegal Group by 82.1% in the third 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 in the last quarter. Foundry Partners LLC boosted its position in Donegal Group by 1.0% in the third quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock valued at $3,605,000 after buying an additional 2,310 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Donegal Group by 39.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock valued at $896,000 after buying an additional 17,125 shares in the last quarter. Martingale Asset Management L P boosted its position in Donegal Group by 4.2% in the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after buying an additional 902 shares in the last quarter. Finally, Barclays PLC boosted its position in 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 buying an additional 18,132 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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.