Informed Momentum Co LLC Purchases New Position in Donegal Group, Inc. (NASDAQ:DGICA)

Key Points

• Informed Momentum Co LLC has acquired 52,938 shares of Donegal Group, Inc., amounting to approximately $1,039,000, representing about 0.15% ownership in the company.
• Donegal Group announced a quarterly dividend of $0.1825 per share, yielding 4.2%, with the payout ratio standing at 30.67%.
• Donegal Group's recent earnings report showed a profit of $0.43 per share, exceeding expectations, despite revenue falling short of analyst estimates at $233.81 million.

Informed Momentum Co LLC purchased a new stake in Donegal Group, Inc. (NASDAQ:DGICA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 52,938 shares of the insurance provider's stock, valued at approximately $1,039,000. Informed Momentum Co LLC owned approximately 0.15% of Donegal Group as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of DGICA. Dimensional Fund Advisors LP lifted its holdings in Donegal Group by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,804,968 shares of the insurance provider's stock worth $27,923,000 after purchasing an additional 27,213 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Donegal Group by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 946,432 shares of the insurance provider's stock worth $18,578,000 after purchasing an additional 19,174 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Donegal Group by 29.5% during the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider's stock worth $6,638,000 after purchasing an additional 97,795 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Donegal Group by 13.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 267,692 shares of the insurance provider's stock worth $5,255,000 after purchasing an additional 31,946 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Donegal Group by 0.4% during the 4th quarter. Wells Fargo & Company MN now owns 223,593 shares of the insurance provider's stock worth $3,459,000 after purchasing an additional 897 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors.

Donegal Group Stock Down 0.7%

Shares of DGICA traded down $0.13 on Friday, reaching $17.38. The stock had a trading volume of 435,508 shares, compared to its average volume of 158,651. The firm has a market capitalization of $634.54 million, a price-to-earnings ratio of 7.30 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. The company has a 50-day simple moving average of $18.40 and a 200-day simple moving average of $18.29. Donegal Group, Inc. has a 12-month low of $14.06 and a 12-month high of $21.12.

Donegal Group (NASDAQ:DGICA - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates 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. Sell-side analysts predict that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Dividend Announcement

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

Insider Buying and Selling at Donegal Group

In other news, EVP William Daniel Delamater sold 8,696 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $19.78, for a total value of $172,006.88. Following the transaction, the executive vice president directly owned 1,495 shares in the company, valued at $29,571.10. This trade represents a 85.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP William Albert Folmar sold 18,000 shares of Donegal Group stock in a transaction on Monday, May 19th. The shares were sold at an average price of $20.67, for a total value of $372,060.00. Following the transaction, the vice president owned 950 shares in the company, valued at $19,636.50. This trade represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,173 shares of company stock worth $938,360. Insiders own 6.63% of the company's stock.

Analyst Upgrades and Downgrades

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

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.