Insider Selling: Donegal Group Inc. (NASDAQ:DGICA) CAO Sells 9,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) CAO David Benjamin Bawel sold 9,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $15.50, for a total transaction of $139,500.00. Following the sale, the chief accounting officer now owns 19,665 shares in the company, valued at approximately $304,807.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Donegal Group Stock Performance

Shares of DGICA traded up $0.25 during mid-day trading on Friday, reaching $15.24. 554 shares of the company’s stock were exchanged, compared to its average volume of 55,127. The business’s fifty day simple moving average is $14.92 and its 200-day simple moving average is $14.00. The stock has a market capitalization of $510.24 million, a PE ratio of 20.05 and a beta of -0.06. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $15.84. 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 Dividend Announcement

The firm 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 dividend of $0.172 per share. This represents a $0.69 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Friday, November 1st. Donegal Group’s payout ratio is currently 90.79%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Donegal Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th.

Institutional Investors Weigh In On Donegal Group

Several hedge funds have recently made changes to their positions in DGICA. Innealta Capital LLC purchased a new position in shares of Donegal Group in the 2nd quarter valued at approximately $27,000. Hsbc Holdings PLC grew its position in Donegal Group by 7.8% in the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock valued at $389,000 after buying an additional 2,250 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Donegal Group by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock valued at $1,669,000 after buying an additional 5,416 shares during the period. BNP Paribas Financial Markets raised its position in Donegal Group by 125.0% during the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after buying an additional 5,757 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Donegal Group by 8.2% during the first quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock worth $1,573,000 after acquiring an additional 8,400 shares during the period. 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.