Donegal Group Inc. (NASDAQ:DGICA) Plans Quarterly Dividend of $0.17

Donegal Group Inc. (NASDAQ:DGICA) announced a quarterly dividend on Thursday, October 17th, Zacks reports. Stockholders of record on Friday, November 1st will be given a dividend of 0.172 per share by the insurance provider on Friday, November 15th. This represents a $0.69 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, November 1st.

Donegal Group has raised its dividend by an average of 4.3% annually over the last three years and has raised its dividend annually for the last 20 consecutive years. Donegal Group has a payout ratio of 61.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Donegal Group to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.69 annual dividend with an expected future payout ratio of 72.6%.

Donegal Group Stock Down 1.1 %

DGICA stock opened at $14.88 on Friday. The company’s 50 day simple moving average is $14.82 and its 200-day simple moving average is $13.90. The firm has a market capitalization of $496.89 million, a PE ratio of 93.00 and a beta of -0.06. Donegal Group has a 12 month low of $12.26 and a 12 month high of $15.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. The business had revenue of $246.77 million for the quarter, compared to analyst estimates of $243.00 million. Donegal Group had a net margin of 0.76% and a return on equity of 0.89%. Equities analysts expect that Donegal Group will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Mutual Insurance Co Donegal bought 9,024 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased at an average price of $14.96 per share, for a total transaction of $134,999.04. Following the completion of the transaction, the insider now owns 12,104,114 shares in the company, valued at $181,077,545.44. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Vincent Anthony Viozzi sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $15.24, for a total transaction of $457,200.00. Following the sale, the vice president now owns 9,891 shares in the company, valued at approximately $150,738.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Mutual Insurance Co Donegal purchased 9,024 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were bought at an average cost of $14.96 per share, for a total transaction of $134,999.04. Following the purchase, the insider now owns 12,104,114 shares of the company’s stock, valued at $181,077,545.44. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 139,437 shares of company stock worth $2,062,143. 6.63% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Donegal Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd.

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.