Donegal Group (NASDAQ:DGICA) Issues Earnings Results

Donegal Group (NASDAQ:DGICA) issued its quarterly earnings results on Thursday. The insurance provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.02 by $0.44, reports. Donegal Group had a return on equity of 0.89% and a net margin of 0.76%. The company had revenue of $249.86 million for the quarter, compared to the consensus estimate of $249.60 million.

Donegal Group Price Performance

Shares of NASDAQ:DGICA opened at $15.16 on Friday. The business’s 50 day moving average is $14.86 and its 200-day moving average is $13.94. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $506.24 million, a PE ratio of 94.75 and a beta of -0.06. Donegal Group has a 1-year low of $12.26 and a 1-year high of $15.84.

Donegal Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $0.172 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.54%. Donegal Group’s dividend payout ratio is currently 431.25%.

Insider Buying and Selling

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal bought 8,951 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $13.50 per share, for a total transaction of $120,838.50. Following the transaction, the insider now owns 12,123,065 shares in the company, valued at approximately $163,661,377.50. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Mutual Insurance Co Donegal bought 8,951 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $13.50 per share, for a total transaction of $120,838.50. Following the transaction, the insider now directly owns 12,123,065 shares of the company’s stock, valued at $163,661,377.50. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Vincent Anthony Viozzi sold 30,000 shares of the company’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 completion of the sale, the vice president now owns 9,891 shares in the company, valued at $150,738.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 139,437 shares of company stock valued at $2,062,143 over the last ninety days. 6.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Donegal Group

A number of large investors have recently bought and sold shares of DGICA. Squarepoint Ops LLC acquired a new position in Donegal Group during the 2nd quarter worth about $448,000. Hsbc Holdings PLC lifted its position in shares of 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 purchasing an additional 2,250 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Donegal Group by 95.2% during the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock worth $520,000 after purchasing an additional 19,707 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Donegal Group during the second quarter valued at approximately $27,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Donegal Group by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock valued at $1,669,000 after purchasing an additional 5,416 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a report on Friday.

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.