28,315 Shares in Donegal Group, Inc. $DGICA Purchased by Nuveen LLC

Key Points

• Nuveen LLC acquired 28,315 shares of Donegal Group, Inc., valued at approximately $556,000, increasing its ownership to 0.08% of the company.
• Donegal Group reported a quarterly EPS of $0.43, exceeding analysts' estimates, with a revenue of $233.81 million, which fell short of expectations.
• The firm announced a quarterly dividend of $0.1825 per share, resulting in an annualized dividend yield of 4.0% and a dividend payout ratio of 30.67%.

Nuveen LLC bought a new position in shares of Donegal Group, Inc. (NASDAQ:DGICA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 28,315 shares of the insurance provider's stock, valued at approximately $556,000. Nuveen LLC owned 0.08% of Donegal Group as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. CWM LLC grew its holdings in shares of Donegal Group by 78.0% during the 1st quarter. CWM LLC now owns 5,163 shares of the insurance provider's stock worth $101,000 after purchasing an additional 2,263 shares during the period. BNP Paribas Financial Markets boosted its holdings in Donegal Group by 117.2% in the 4th quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider's stock worth $130,000 after acquiring an additional 4,544 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Donegal Group in the 4th quarter worth approximately $173,000. Deutsche Bank AG boosted its holdings in Donegal Group by 566.5% in the 1st quarter. Deutsche Bank AG now owns 12,863 shares of the insurance provider's stock worth $253,000 after acquiring an additional 10,933 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in Donegal Group by 167.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 12,905 shares of the insurance provider's stock worth $200,000 after acquiring an additional 8,071 shares during the period. Hedge funds and other institutional investors own 27.96% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Donegal Group

In other news, Director David Charles King sold 4,500 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $17.51, for a total transaction of $78,795.00. Following the completion of the sale, the director directly owned 2,500 shares of the company's stock, valued at $43,775. This represents a 64.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Mutual Insurance Co Donegal purchased 19,212 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were bought at an average price of $19.22 per share, with a total value of $369,254.64. Following the completion of the acquisition, the insider owned 13,559,629 shares of the company's stock, valued at $260,616,069.38. This trade represents a 0.14% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 118,008 shares of company stock valued at $2,137,291. Insiders own 3.48% of the company's stock.

Donegal Group Stock Performance

Shares of DGICA stock traded down $0.06 on Tuesday, hitting $19.23. 28,890 shares of the stock traded hands, compared to its average volume of 131,171. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $702.09 million and a PE ratio of 8.07. Donegal Group, Inc. has a 1-year low of $14.06 and a 1-year high of $21.12. The company's fifty day moving average is $17.97 and its 200 day moving average is $18.63.

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

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.1825 dividend. The ex-dividend date was Friday, August 1st. This represents a $0.73 annualized dividend and a dividend yield of 3.8%. Donegal Group's dividend payout ratio is 30.67%.

About Donegal Group

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.