37,992 Shares in Donegal Group Inc. (NASDAQ:DGICA) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new stake in Donegal Group Inc. (NASDAQ:DGICA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 37,992 shares of the insurance provider's stock, valued at approximately $588,000. Cubist Systematic Strategies LLC owned about 0.11% of Donegal Group at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of DGICA. KLP Kapitalforvaltning AS acquired a new position in Donegal Group during the fourth quarter worth about $68,000. SG Americas Securities LLC bought a new stake in shares of Donegal Group during the fourth quarter worth about $128,000. BNP Paribas Financial Markets grew its stake in shares of Donegal Group by 117.2% in the 4th quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider's stock worth $130,000 after acquiring an additional 4,544 shares in the last quarter. XTX Topco Ltd bought a new stake in Donegal Group during the fourth quarter worth $162,000. Finally, Private Advisor Group LLC purchased a new position in Donegal Group in the fourth quarter valued at about $177,000. Institutional investors and hedge funds own 27.96% of the company's stock.

Insider Activity

In other news, VP William Albert Folmar sold 18,000 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $20.67, for a total transaction of $372,060.00. Following the completion of the sale, the vice president now owns 950 shares in the company, valued at approximately $19,636.50. This represents a 94.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Sanjay Pandey sold 12,982 shares of Donegal Group stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $20.27, for a total value of $263,145.14. Following the sale, the vice president now directly owns 7,449 shares of the company's stock, valued at approximately $150,991.23. This represents a 63.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 213,147 shares of company stock worth $3,975,328 and sold 182,670 shares worth $3,548,392. Corporate insiders own 6.63% of the company's stock.

Donegal Group Stock Down 1.1%

Shares of DGICA stock traded down $0.23 during trading hours on Wednesday, hitting $20.38. 4,141 shares of the company's stock traded hands, compared to its average volume of 86,194. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. The stock's fifty day simple moving average is $19.02 and its two-hundred day simple moving average is $16.90. Donegal Group Inc. has a 12-month low of $12.26 and a 12-month high of $21.12. The stock has a market cap of $735.66 million, a price-to-earnings ratio of 13.43 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.34 by $0.38. The company had revenue of $245.57 million during the quarter, compared to analyst estimates of $248.73 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. On average, analysts expect that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.1825 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $0.73 annualized dividend and a dividend yield of 3.58%. This is a boost from Donegal Group's previous quarterly dividend of $0.17. Donegal Group's dividend payout ratio (DPR) is presently 35.61%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their target price on shares of Donegal Group from $17.00 to $18.00 and gave the stock a "market perform" rating in a report on Friday, April 25th.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.