Key Points
- CFO Jeffrey Miller sold 21,000 Donegal Group shares at an average price of $19.23, generating $403,830 and reducing his stake by 43.59% to 27,176 shares.
- Donegal Group exceeded quarterly expectations, reporting $0.53 EPS versus the $0.42 consensus and revenue of $241.12 million versus estimates of $231.53 million.
- The company pays a quarterly dividend of $0.1925 per share, equivalent to an annualized $0.77 and a 4.0% yield; analysts maintain an overall “Hold” rating with a $20 consensus price target.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) CFO Jeffrey Miller sold 21,000 shares of the business's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $19.23, for a total value of $403,830.00. Following the completion of the sale, the chief financial officer owned 27,176 shares of the company's stock, valued at $522,594.48. The trade was a 43.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Donegal Group Stock Performance
NASDAQ:DGICA opened at $19.45 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The firm has a market cap of $1.28 billion, a PE ratio of 10.08 and a beta of -0.01. The business has a 50 day moving average price of $19.00 and a 200-day moving average price of $17.98.
Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.11. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The business had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Equities research analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current year.
Donegal Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, July 31st. Donegal Group's dividend payout ratio is currently 39.90%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on DGICA shares. Weiss Ratings upgraded Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 28th. Keefe, Bruyette & Woods increased their price objective on Donegal Group from $18.00 to $20.00 and gave the stock a "market perform" rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $20.00.
View Our Latest Report on DGICA
Institutional Investors Weigh In On Donegal Group
Several institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc boosted its stake in shares of Donegal Group by 1,377.6% during the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider's stock valued at $75,000 after purchasing an additional 3,513 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Donegal Group in the fourth quarter worth about $204,000. Amundi purchased a new stake in Donegal Group in the first quarter worth about $206,000. Allianz Asset Management GmbH purchased a new stake in Donegal Group in the second quarter worth about $220,000. Finally, QRG Capital Management Inc. bought a new stake in Donegal Group during the 1st quarter valued at approximately $223,000. 27.96% of the stock is owned by hedge funds and other institutional investors.
About Donegal Group
(
Get Free Report)
Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of independent insurance agents. The company operates through regional insurance subsidiaries affiliated with Donegal Mutual Insurance Company and serves individuals, families, farms, and businesses.
Its personal insurance products generally include automobile, homeowners, dwelling fire, renters, and farmowners coverage. Donegal Group also offers commercial insurance, including businessowners policies, commercial automobile, commercial package, workers' compensation, general liability, and related coverages.
Further Reading
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