Connor Clark & Lunn Investment Management Ltd. Has $5.26 Million Holdings in Donegal Group, Inc. (NASDAQ:DGICA)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Donegal Group by 13.6%, acquiring an additional 31,946 shares, bringing their total ownership to about 0.75% of the company worth approximately $5.25 million.
• Donegal Group reported an EPS of $0.43 for the last quarter, surpassing analysts' expectations of $0.36, despite revenues falling short of projections at $233.81 million.
• The company recently announced a quarterly dividend of $0.1825 per share, translating to a 4.2% yield and a payout ratio of 30.67%.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Donegal Group, Inc. (NASDAQ:DGICA - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 267,692 shares of the insurance provider's stock after purchasing an additional 31,946 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.75% of Donegal Group worth $5,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Donegal Group by 109.0% in the fourth quarter. JPMorgan Chase & Co. now owns 55,942 shares of the insurance provider's stock worth $865,000 after purchasing an additional 29,177 shares in the last quarter. Wells Fargo & Company MN raised its position in Donegal Group by 0.4% during the fourth quarter. Wells Fargo & Company MN now owns 223,593 shares of the insurance provider's stock valued at $3,459,000 after acquiring an additional 897 shares in the last quarter. Renaissance Technologies LLC raised its position in Donegal Group by 29.5% during the fourth quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider's stock valued at $6,638,000 after acquiring an additional 97,795 shares in the last quarter. Townsquare Capital LLC acquired a new position in Donegal Group during the fourth quarter valued at approximately $195,000. Finally, Barclays PLC grew its holdings in Donegal Group by 8.1% during the fourth quarter. Barclays PLC now owns 70,237 shares of the insurance provider's stock valued at $1,087,000 after purchasing an additional 5,285 shares during the last quarter. Institutional investors own 27.96% of the company's stock.

Analyst Upgrades and Downgrades

DGICA has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Donegal Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods boosted their target price on shares of Donegal Group from $17.00 to $18.00 and gave the company a "market perform" rating in a research note on Friday, April 25th.

Insider Transactions at Donegal Group

In other news, VP Vincent Anthony Viozzi sold 19,173 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $20.24, for a total transaction of $388,061.52. Following the sale, the vice president owned 8,143 shares in the company, valued at $164,814.32. This represents a 70.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP William Daniel Delamater sold 8,696 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $19.78, for a total value of $172,006.88. Following the completion of the sale, the executive vice president owned 1,495 shares in the company, valued at approximately $29,571.10. This trade represents a 85.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,173 shares of company stock worth $938,360 in the last 90 days. Corporate insiders own 6.63% of the company's stock.

Donegal Group Trading Down 0.7%

NASDAQ:DGICA traded down $0.13 on Friday, hitting $17.38. 435,508 shares of the stock were exchanged, compared to its average volume of 158,651. The stock has a market capitalization of $634.53 million, a price-to-earnings ratio of 7.30 and a beta of 0.01. Donegal Group, Inc. has a 52 week low of $14.06 and a 52 week high of $21.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. The company's 50-day moving average price is $18.40 and its 200 day moving average price is $18.26.

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

Donegal Group Dividend Announcement

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

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.