Key Points
- Major shareholder Mutual Insurance Co Donegal bought 7,500 DGICA shares at an average $18.81 each, spending $141,075. It held 14.44 million shares after the purchase; the article also lists several other recent acquisitions.
- Donegal Group’s latest quarter beat estimates, reporting $0.50 earnings per share versus $0.44 expected and revenue of $237.66 million versus $214.12 million forecast.
- The company declared a quarterly dividend of $0.1925 per share, equivalent to a 4.1% annualized yield. Analysts’ average rating was Hold, with a $20 price target.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) VP Kristi Altshuler sold 6,000 shares of the firm's stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $19.01, for a total value of $114,060.00. Following the sale, the vice president directly owned 6,000 shares in the company, valued at approximately $114,060. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Donegal Group Stock Performance
NASDAQ DGICA opened at $18.96 on Friday. The firm has a market cap of $703.80 million, a price-to-earnings ratio of 10.24 and a beta of -0.03. The company has a quick ratio of 0.39, a current ratio of 0.40 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $18.67 and a 200-day moving average price of $18.15. Donegal Group, Inc. has a twelve month low of $16.11 and a twelve month high of $21.06.
Donegal Group (NASDAQ:DGICA - Get Free Report) last released its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. The firm had revenue of $237.66 million during the quarter, compared to analysts' expectations of $214.12 million. Donegal Group had a return on equity of 10.45% and a net margin of 7.24%. As a group, equities research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.
Donegal Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, November 2nd. Donegal Group's dividend payout ratio is presently 41.18%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its position in shares of Donegal Group by 214.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider's stock valued at $105,000 after purchasing an additional 4,016 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Donegal Group by 27.8% in the second quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider's stock worth $174,000 after buying an additional 2,004 shares in the last quarter. Virtus Advisers LLC lifted its position in shares of Donegal Group by 16.8% in the third quarter. Virtus Advisers LLC now owns 9,866 shares of the insurance provider's stock worth $176,000 after buying an additional 1,417 shares in the last quarter. State of Wyoming purchased a new stake in shares of Donegal Group in the third quarter worth about $177,000. Finally, Allianz Asset Management GmbH bought a new position in Donegal Group during the second quarter valued at approximately $220,000. Institutional investors own 27.96% of the company's stock.
Analysts Set New Price Targets
DGICA has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 28th. Zacks Research upgraded shares of Donegal Group from a "strong sell" rating to a "hold" rating in a research report on Friday, October 16th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $20.00.
Read Our Latest Stock Analysis on Donegal Group
About Donegal Group
(
Get Free Report)
Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers' compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
