Key Points
- Director Michael Kevin Callahan sold 3,000 Donegal Group shares at an average $19.01 each, receiving $57,030. He retained 17,708 shares after the sale, a 14.49% reduction in his direct holdings.
- Donegal Group reported quarterly EPS of $0.50, beating the $0.44 consensus estimate, while revenue of $237.66 million also exceeded analysts’ expectations.
- The company declared a quarterly dividend of $0.1925 per share, equivalent to $0.77 annually and a 4.0% yield. Analysts’ average rating was “Hold,” with an average price target of $20.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) Director Michael Kevin Callahan sold 3,000 shares of the firm's stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $19.01, for a total transaction of $57,030.00. Following the transaction, the director directly owned 17,708 shares of the company's stock, valued at $336,629.08. The trade was a 14.49% 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 Price Performance
NASDAQ DGICA traded up $0.10 on Friday, reaching $19.06. The company's stock had a trading volume of 121,251 shares, compared to its average volume of 112,779. The firm has a market cap of $713.23 million, a PE ratio of 10.19 and a beta of -0.03. The business has a 50-day moving average price of $18.66 and a 200 day moving average price of $18.15. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The company has a current ratio of 0.40, 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 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 analyst estimates of $214.12 million. Donegal Group had a net margin of 7.24% and a return on equity of 10.45%. Sell-side analysts expect that Donegal Group, Inc. will post 1.75 EPS for the current year.
Donegal Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a $0.1925 dividend. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, November 2nd. Donegal Group's dividend payout ratio is currently 41.18%.
Institutional Investors Weigh In On Donegal Group
Large investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its position in shares of Donegal Group by 41.2% during the 1st 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 in the last quarter. Renaissance Technologies LLC lifted its holdings in Donegal Group by 5.8% during the 1st quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider's stock valued at $6,747,000 after purchasing an additional 21,500 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Donegal Group during the second quarter worth approximately $344,000. First Trust Advisors LP increased its holdings in shares of Donegal Group by 31.7% during the third quarter. First Trust Advisors LP now owns 74,434 shares of the insurance provider's stock worth $1,324,000 after buying an additional 17,915 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Donegal Group in the third quarter valued at approximately $301,000. Institutional investors own 27.96% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on DGICA. Weiss Ratings raised Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 28th. Zacks Research upgraded Donegal Group from a "strong sell" rating to a "hold" rating in a research report on Friday, October 16th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $20.00.
View Our Latest Report on DGICA
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.
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