Key Points
- Donegal Group SVP Noland Rone Deas Jr. sold 24,000 shares for approximately $467,280, reducing his direct holdings by 87.2% to 3,523 shares.
- Donegal Group reported quarterly EPS of $0.53, exceeding estimates of $0.42, while revenue of $241.12 million also surpassed expectations.
- The company declared a quarterly dividend of $0.1925, equivalent to $0.77 annually and a 3.9% yield; analysts maintain a “Moderate Buy” consensus with a $20 price target.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) Director David Charles King sold 9,000 shares of Donegal Group stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $19.33, for a total value of $173,970.00. Following the completion of the transaction, the director owned 3,700 shares of the company's stock, valued at approximately $71,521. This represents a 70.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Donegal Group Trading Up 0.9%
Shares of DGICA stock opened at $19.64 on Thursday. The company has a market cap of $727.66 million, a PE ratio of 10.18 and a beta of -0.01. Donegal Group, Inc. has a 1 year low of $16.11 and a 1 year high of $21.06. The stock's 50 day simple moving average is $18.31 and its two-hundred day simple moving average is $17.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.
Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.11. Donegal Group had a return on equity of 10.77% and a net margin of 7.38%.The firm had revenue of $241.12 million during the quarter, compared to analysts' expectations of $231.53 million. Research analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current year.
Donegal Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.1925 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 3.9%. Donegal Group's dividend payout ratio is currently 39.90%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on DGICA. Weiss Ratings upgraded shares of Donegal Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods upped their target price on Donegal Group from $18.00 to $20.00 and gave the company a "market perform" rating in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.
Get Our Latest Stock Analysis on DGICA
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its holdings in Donegal Group by 576.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider's stock valued at $55,000 after buying an additional 2,341 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Donegal Group by 422.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider's stock worth $74,000 after acquiring an additional 2,975 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Donegal Group by 31.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider's stock worth $75,000 after acquiring an additional 896 shares during the period. IFP Advisors Inc raised its stake in shares of Donegal Group by 1,377.6% during the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider's stock valued at $75,000 after acquiring an additional 3,513 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Donegal Group by 443.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider's stock valued at $99,000 after acquiring an additional 4,022 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company's stock.
Donegal Group Company Profile
(
Get Free Report)
Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.
The company's origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.
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