Bridgeway Capital Management LLC Sells 51,743 Shares of Donegal Group Inc. (NASDAQ:DGICA)

Bridgeway Capital Management LLC decreased its holdings in shares of Donegal Group Inc. (NASDAQ:DGICA - Free Report) by 27.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 136,293 shares of the insurance provider's stock after selling 51,743 shares during the quarter. Bridgeway Capital Management LLC owned 0.40% of Donegal Group worth $2,108,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC lifted its holdings in Donegal Group by 38.7% during the third quarter. Barclays PLC now owns 64,952 shares of the insurance provider's stock worth $957,000 after buying an additional 18,132 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Donegal Group in the 4th quarter valued at $128,000. Bleakley Financial Group LLC acquired a new stake in Donegal Group during the 4th quarter worth about $244,000. Private Advisor Group LLC purchased a new stake in Donegal Group in the 4th quarter worth approximately $177,000. Finally, Bank of New York Mellon Corp boosted its holdings in Donegal Group by 4.2% during the fourth quarter. Bank of New York Mellon Corp now owns 122,417 shares of the insurance provider's stock worth $1,894,000 after buying an additional 4,967 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their price objective on Donegal Group from $17.00 to $18.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th.

Insider Transactions at Donegal Group

In other Donegal Group news, insider Kevin Gerard Burke sold 27,000 shares of Donegal Group stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $19.83, for a total value of $535,410.00. Following the completion of the transaction, the insider now directly owns 11,672 shares in the company, valued at $231,455.76. The trade was a 69.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Mutual Insurance Co Donegal bought 71,000 shares of Donegal Group stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $19.83 per share, with a total value of $1,407,930.00. Following the completion of the purchase, the insider now directly owns 13,441,621 shares in the company, valued at $266,547,344.43. This trade represents a 0.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 213,147 shares of company stock valued at $3,975,328 and sold 134,492 shares valued at $2,571,290. Insiders own 6.63% of the company's stock.

Donegal Group Trading Up 2.8%

Shares of NASDAQ DGICA traded up $0.55 during trading on Thursday, reaching $20.28. The stock had a trading volume of 105,104 shares, compared to its average volume of 85,138. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market cap of $722.72 million, a P/E ratio of 13.34 and a beta of -0.05. The business's 50-day moving average price is $18.79 and its 200-day moving average price is $16.75. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.51.

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

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.60%. This is a boost from Donegal Group's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, May 1st. Donegal Group's dividend payout ratio (DPR) is 35.61%.

Donegal Group Profile

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.