Two Sigma Investments LP Boosts Stock Holdings in Donegal Group Inc. (NASDAQ:DGICA)

Two Sigma Investments LP raised its position in Donegal Group Inc. (NASDAQ:DGICA - Free Report) by 87.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,437 shares of the insurance provider's stock after purchasing an additional 41,763 shares during the quarter. Two Sigma Investments LP owned 0.26% of Donegal Group worth $1,384,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in shares of Donegal Group by 170.8% during the fourth quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider's stock worth $1,598,000 after acquiring an additional 65,146 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Donegal Group by 47.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 131,770 shares of the insurance provider's stock worth $2,038,000 after acquiring an additional 42,251 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in shares of Donegal Group during the fourth quarter worth $704,000. Corton Capital Inc. increased its position in shares of Donegal Group by 7.4% during the fourth quarter. Corton Capital Inc. now owns 16,101 shares of the insurance provider's stock worth $249,000 after acquiring an additional 1,108 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Donegal Group during the fourth quarter worth $588,000. Hedge funds and other institutional investors own 27.96% of the company's stock.

Insider Buying and Selling

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal bought 11,600 shares of Donegal Group stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $17.59 per share, with a total value of $204,044.00. Following the completion of the acquisition, the insider now owns 13,314,382 shares of the company's stock, valued at approximately $234,199,979.38. This represents a 0.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Vincent Anthony Viozzi sold 19,173 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $20.24, for a total transaction of $388,061.52. Following the completion of the sale, the vice president now directly owns 8,143 shares of the company's stock, valued at $164,814.32. The trade was a 70.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 156,447 shares of company stock worth $2,989,216 and sold 191,693 shares worth $3,772,777. Insiders own 6.63% of the company's stock.

Donegal Group Stock Up 0.4%

Shares of DGICA stock traded up $0.08 on Thursday, reaching $19.57. 104,625 shares of the stock were exchanged, compared to its average volume of 88,498. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The business's 50 day moving average price is $19.34 and its 200 day moving average price is $17.22. The company has a market capitalization of $706.42 million, a price-to-earnings ratio of 12.88 and a beta of -0.05. Donegal Group Inc. has a twelve month low of $12.26 and a twelve month high of $21.12.

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

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a dividend of $0.1825 per share. The ex-dividend date was Thursday, May 1st. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.73%. This is an increase from Donegal Group's previous quarterly dividend of $0.17. Donegal Group's payout ratio is presently 35.61%.

Analyst Upgrades and Downgrades

DGICA has been the topic of a number of recent research reports. Wall Street Zen raised Donegal Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 31st. Keefe, Bruyette & Woods boosted their target price on shares of Donegal Group from $17.00 to $18.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th.

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.