Inspire Investing LLC Purchases Shares of 42,012 Donegal Group, Inc. $DGICA

Key Points

• Inspire Investing LLC acquired 42,012 shares of Donegal Group, Inc. valued at approximately $825,000, increasing its ownership to about 0.12% as per its latest SEC filing.
• Donegal Group recently declared a quarterly dividend of $0.1825 per share, which represents a dividend yield of 3.7% and a payout ratio of 30.67%.
• Analysts have mixed reviews on Donegal Group, with ratings ranging from "strong-buy" to "hold", and the consensus price target set at $18.00.

Inspire Investing LLC purchased a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICA - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 42,012 shares of the insurance provider's stock, valued at approximately $825,000. Inspire Investing LLC owned about 0.12% of Donegal Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Donegal Group by 24.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,875 shares of the insurance provider's stock valued at $272,000 after acquiring an additional 2,695 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Donegal Group by 4,607.4% during the first quarter. GAMMA Investing LLC now owns 14,075 shares of the insurance provider's stock valued at $276,000 after purchasing an additional 13,776 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Donegal Group by 21.4% during the first quarter. Hsbc Holdings PLC now owns 47,551 shares of the insurance provider's stock valued at $936,000 after purchasing an additional 8,394 shares during the period. Two Sigma Investments LP boosted its stake in shares of Donegal Group by 87.6% during the fourth quarter. Two Sigma Investments LP now owns 89,437 shares of the insurance provider's stock valued at $1,384,000 after purchasing an additional 41,763 shares during the period. Finally, XTX Topco Ltd boosted its stake in shares of Donegal Group by 56.8% during the first quarter. XTX Topco Ltd now owns 16,387 shares of the insurance provider's stock valued at $322,000 after purchasing an additional 5,935 shares during the period. 27.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Donegal Group

In related news, major shareholder Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock in a transaction dated Friday, August 29th. The stock was purchased at an average cost of $17.84 per share, for a total transaction of $356,800.00. Following the completion of the acquisition, the insider directly owned 13,500,977 shares of the company's stock, valued at $240,857,429.68. The trade was a 0.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders acquired 192,958 shares of company stock worth $3,575,146 in the last ninety days. 6.63% of the stock is owned by company insiders.

Donegal Group Price Performance

DGICA opened at $19.48 on Friday. Donegal Group, Inc. has a 12-month low of $14.06 and a 12-month high of $21.12. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $17.98 and a two-hundred day simple moving average of $18.68. The company has a market cap of $711.20 million and a price-to-earnings ratio of 8.18.

Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.43 earnings per share for the quarter, beating 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 firm had revenue of $233.81 million during the quarter, compared to the consensus estimate of $247.21 million. Research analysts predict that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.1825 per share. The ex-dividend date was Friday, August 1st. This represents a $0.73 annualized dividend and a dividend yield of 3.7%. Donegal Group's dividend payout ratio (DPR) is presently 30.67%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DGICA. Wall Street Zen lowered Donegal Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Zacks Research raised Donegal Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Finally, Janney Montgomery Scott raised Donegal Group from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $18.00.

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.

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