Key Points
- Donegal Group director Jon Marshall Mahan sold 4,500 shares for $87,255 at an average price of $19.39, reducing his direct ownership by 29.63% to 10,688 shares.
- The insurer beat quarterly estimates, reporting earnings of $0.50 per share versus $0.44 expected and revenue of $237.66 million versus $214.12 million forecast.
- Donegal announced a quarterly dividend of $0.1925 per share, equivalent to $0.77 annually and a 4.1% yield. Analysts’ average rating was Hold, with a $20 price target.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) Director Jon Mahan sold 4,500 shares of Donegal Group stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $19.39, for a total transaction of $87,255.00. Following the transaction, the director directly owned 10,688 shares of the company's stock, valued at approximately $207,240.32. This represents a 29.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Donegal Group Stock Performance
Shares of NASDAQ:DGICA opened at $18.96 on Friday. The company has a market capitalization of $703.80 million, a price-to-earnings ratio of 10.32 and a beta of -0.03. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The firm's 50-day moving average is $18.70 and its 200 day moving average is $18.14. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05.
Donegal Group (NASDAQ:DGICA - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.06. The company had revenue of $237.66 million for the quarter, compared to analyst estimates of $214.12 million. Donegal Group had a net margin of 7.24% and a return on equity of 10.49%. Research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current year.
Donegal Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.1925 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.1%. Donegal Group's dividend payout ratio is currently 41.18%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. Zacks Research upgraded Donegal Group from a "strong sell" rating to a "hold" rating in a report on Friday, October 16th. Weiss Ratings upgraded Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $20.00.
Read Our Latest Analysis on DGICA
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership grew its holdings in shares of Donegal Group by 41.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider's stock worth $4,746,000 after purchasing an additional 80,614 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Donegal Group by 44.9% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 36,749 shares of the insurance provider's stock worth $631,000 after buying an additional 11,386 shares during the period. Hsbc Holdings PLC lifted its holdings in Donegal Group by 26.3% during the 4th quarter. Hsbc Holdings PLC now owns 35,570 shares of the insurance provider's stock valued at $710,000 after buying an additional 7,409 shares in the last quarter. QRG Capital Management Inc. bought a new stake in Donegal Group during the 1st quarter valued at about $223,000. Finally, IFP Advisors Inc lifted its holdings in Donegal Group by 27.8% during the 2nd quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider's stock valued at $174,000 after buying an additional 2,004 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors.
About Donegal Group
(
Get Free Report)
Donegal Group Inc (NASDAQ: DGICA) is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.
Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers' compensation coverage, along with other specialized property and casualty policies.
Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.
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