GAMMA Investing LLC Has $276,000 Stock Position in Donegal Group, Inc. (NASDAQ:DGICA)

GAMMA Investing LLC lifted its holdings in Donegal Group, Inc. (NASDAQ:DGICA - Free Report) by 4,607.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,075 shares of the insurance provider's stock after purchasing an additional 13,776 shares during the period. GAMMA Investing LLC's holdings in Donegal Group were worth $276,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. KLP Kapitalforvaltning AS bought a new position in shares of Donegal Group during the 4th quarter worth about $68,000. BNP Paribas Financial Markets grew its position in Donegal Group by 117.2% during the fourth quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider's stock worth $130,000 after buying an additional 4,544 shares in the last quarter. XTX Topco Ltd acquired a new stake in Donegal Group during the fourth quarter worth about $162,000. Wealth Enhancement Advisory Services LLC bought a new position in Donegal Group during the fourth quarter valued at about $173,000. Finally, Private Advisor Group LLC acquired a new position in Donegal Group in the 4th quarter valued at approximately $177,000. Institutional investors and hedge funds own 27.96% of the company's stock.

Insider Transactions at Donegal Group

In other Donegal Group news, VP Vincent Anthony Viozzi sold 19,173 shares of Donegal Group stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $20.24, for a total value of $388,061.52. Following the completion of the transaction, the vice president now owns 8,143 shares in the company, valued at approximately $164,814.32. The trade was a 70.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William Albert Folmar sold 4,274 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.82, for a total value of $84,710.68. Following the completion of the sale, the vice president now owns 950 shares of the company's stock, valued at approximately $18,829. This trade represents a 81.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,724 shares of company stock valued at $3,269,040. 3.48% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DGICA shares. Wall Street Zen raised shares of Donegal Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 31st. Keefe, Bruyette & Woods lifted 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 report on Friday, April 25th.

Donegal Group Price Performance

NASDAQ DGICA traded up $0.17 during trading on Wednesday, reaching $19.52. 216,683 shares of the company traded hands, compared to its average volume of 93,938. Donegal Group, Inc. has a 1-year low of $12.26 and a 1-year high of $21.12. The company has a market cap of $704.67 million, a price-to-earnings ratio of 9.52 and a beta of 0.02. The stock's 50 day moving average price is $19.51 and its two-hundred day moving average price is $17.51. 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 (NASDAQ:DGICA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.34 by $0.38. Donegal Group had a return on equity of 12.82% and a net margin of 7.06%. The business had revenue of $245.57 million for the quarter, compared to analyst estimates of $248.73 million. As a group, analysts anticipate that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $0.1825 dividend. This represents a $0.73 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Thursday, May 1st. This is an increase from Donegal Group's previous quarterly dividend of $0.17. Donegal Group's payout ratio is currently 35.61%.

Donegal Group Company 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.