Christina Marie Hoffman Sells 18,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Key Points

• Donegal Group VP Christina Marie Hoffman sold 18,000 shares at an average price of $19.67, receiving $354,060. Following the sale, her direct ownership fell 79.45% to 4,655 shares.
• Donegal Group reported quarterly EPS of $0.53, exceeding the $0.42 consensus estimate, while revenue of $241.12 million also topped expectations.
• The company declared a quarterly dividend of $0.1925 per share, equivalent to $0.77 annually and a 4.0% yield; analysts maintain a “Moderate Buy” consensus with a $20 average price target.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) VP Christina Marie Hoffman sold 18,000 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $19.67, for a total transaction of $354,060.00. Following the completion of the sale, the vice president directly owned 4,655 shares in the company, valued at approximately $91,563.85. This represents a 79.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Donegal Group Trading Down 0.5%

Shares of Donegal Group stock traded down $0.10 on Friday, reaching $19.43. 2,555 shares of the company's stock were exchanged, compared to its average volume of 127,137. The company has a market capitalization of $719.70 million, a P/E ratio of 10.09 and a beta of -0.01. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The firm's 50-day moving average is $18.35 and its two-hundred day moving average is $17.89.

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 the consensus estimate of $0.42 by $0.11. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The business had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Sell-side analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, July 31st. Donegal Group's dividend payout ratio (DPR) is 39.90%.

Institutional Investors Weigh In On Donegal Group

A number of large investors have recently added to or reduced their stakes in DGICA. Bank of America Corp DE raised its holdings in shares of Donegal Group by 3.1% during the first quarter. Bank of America Corp DE now owns 73,820 shares of the insurance provider's stock valued at $1,268,000 after acquiring an additional 2,243 shares in the last quarter. Amundi bought a new stake in Donegal Group in the first quarter valued at $206,000. Renaissance Technologies LLC boosted its holdings in Donegal Group by 5.8% in the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider's stock valued at $6,747,000 after acquiring an additional 21,500 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Donegal Group by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider's stock valued at $4,746,000 after purchasing an additional 80,614 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Donegal Group by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider's stock valued at $29,846,000 after purchasing an additional 7,345 shares during the period. Institutional investors own 27.96% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on Donegal Group from $18.00 to $20.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded Donegal Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $20.00.

Donegal Group Company Profile

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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