Donegal Group (NASDAQ:DGICA) Director David Charles King Sells 4,500 Shares

Key Points

• David Charles King, a director at Donegal Group, sold 4,500 shares of stock at an average price of $17.51, which reflects a 64.29% decrease in his holdings.
• Donegal Group recently announced a quarterly dividend of $0.1825 per share, resulting in an annualized dividend yield of 4.2%.
• Wall Street analyst ratings for Donegal Group have been downgraded from "buy" to "hold," with a consensus target price of $18.00.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) Director David Charles King sold 4,500 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $17.51, for a total value of $78,795.00. Following the transaction, the director directly owned 2,500 shares in the company, valued at approximately $43,775. This represents a 64.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Donegal Group Trading Up 1.8%

Shares of NASDAQ DGICA traded up $0.33 during trading hours on Tuesday, hitting $18.22. 113,376 shares of the company traded hands, compared to its average volume of 129,030. The company's 50 day moving average price is $18.06 and its 200 day moving average price is $18.50. The stock has a market capitalization of $665.21 million and a price-to-earnings ratio of 7.65. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06. Donegal Group, Inc. has a 12 month low of $14.06 and a 12 month high of $21.12.

Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. The company had revenue of $233.81 million for the quarter, compared to the consensus estimate of $247.21 million. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%. On average, equities research analysts anticipate that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $0.1825 dividend. This represents a $0.73 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, August 1st. Donegal Group's dividend payout ratio is currently 30.67%.

Institutional Investors Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DGICA. Dimensional Fund Advisors LP grew its stake in shares of Donegal Group by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,804,968 shares of the insurance provider's stock valued at $27,923,000 after buying an additional 27,213 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Donegal Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 946,432 shares of the insurance provider's stock valued at $18,578,000 after buying an additional 19,174 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Donegal Group by 6.6% in the second quarter. Geode Capital Management LLC now owns 409,082 shares of the insurance provider's stock valued at $8,193,000 after buying an additional 25,259 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Donegal Group by 33.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider's stock valued at $7,132,000 after buying an additional 88,462 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Donegal Group in the second quarter valued at $6,343,000. Institutional investors and hedge funds own 27.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Janney Montgomery Scott upgraded Donegal Group from a "neutral" rating to a "buy" rating in a report on Tuesday. Wall Street Zen cut Donegal Group from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.00.

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.