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

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 Donegal Group stock in a transaction dated 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 owned 2,500 shares in the company, valued at $43,775. This trade represents a 64.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Donegal Group Trading Up 0.7%

Donegal Group stock opened at $17.53 on Thursday. The stock has a market capitalization of $640.09 million, a P/E ratio of 7.37 and a beta of 0.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. Donegal Group, Inc. has a 52 week low of $14.06 and a 52 week high of $21.12. The stock has a 50-day simple moving average of $18.14 and a 200 day simple moving average of $18.40.

Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its earnings results on Thursday, July 24th. The insurance provider reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.07. The company had revenue of $233.81 million for the quarter, compared to analyst estimates of $247.21 million. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%. Analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, August 1st. Donegal Group's dividend payout ratio (DPR) is 30.67%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Donegal Group from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $18.00.

Hedge Funds Weigh In On Donegal Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DGICA. Barclays PLC boosted its position in Donegal Group by 8.1% during the fourth quarter. Barclays PLC now owns 70,237 shares of the insurance provider's stock worth $1,087,000 after purchasing an additional 5,285 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Donegal Group by 1.5% during 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 during the period. Hsbc Holdings PLC increased its position in shares of Donegal Group by 24.0% during the fourth quarter. Hsbc Holdings PLC now owns 39,157 shares of the insurance provider's stock valued at $602,000 after buying an additional 7,576 shares during the period. PDT Partners LLC bought a new stake in shares of Donegal Group during the fourth quarter valued at about $212,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of Donegal Group during the 4th quarter valued at about $356,000. Institutional investors own 27.96% of the company's stock.

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.

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