Royce & Associates LP Buys 144,853 Shares of Donegal Group, Inc. $DGICA

Key Points

• Royce & Associates LP increased its stake in Donegal Group by 579.4% in the fourth quarter, buying 144,853 additional shares and ending with 169,853 shares worth about $3.39 million.
• Donegal Group reported mixed quarterly results, posting EPS of $0.32 versus expectations of $0.40 and revenue of $236.0 million versus estimates of $247.83 million.
• The company raised its quarterly dividend to $0.1925 per share, giving it an annualized payout of $0.77 and a yield of about 4.5%.

Royce & Associates LP raised its stake in Donegal Group, Inc. (NASDAQ:DGICA - Free Report) by 579.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 169,853 shares of the insurance provider's stock after acquiring an additional 144,853 shares during the quarter. Royce & Associates LP owned about 0.46% of Donegal Group worth $3,394,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Donegal Group by 422.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider's stock valued at $74,000 after acquiring an additional 2,975 shares during the period. IFP Advisors Inc raised its holdings in Donegal Group by 1,377.6% in the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider's stock valued at $75,000 after acquiring an additional 3,513 shares during the period. Tower Research Capital LLC TRC raised its holdings in Donegal Group by 443.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider's stock valued at $99,000 after acquiring an additional 4,022 shares during the period. Raymond James Financial Inc. bought a new position in Donegal Group in the 2nd quarter valued at about $101,000. Finally, SG Americas Securities LLC bought a new position in Donegal Group in the 4th quarter valued at about $112,000. 27.96% of the stock is owned by institutional investors.

Donegal Group Stock Performance

Shares of NASDAQ:DGICA opened at $16.97 on Friday. The company's 50 day moving average price is $17.25 and its two-hundred day moving average price is $18.44. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The firm has a market cap of $628.74 million, a PE ratio of 9.48 and a beta of 0.01. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.08). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The business had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. Equities research analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Friday, May 1st. This is a boost from Donegal Group's previous quarterly dividend of $0.18. Donegal Group's dividend payout ratio (DPR) is currently 43.02%.

Analyst Ratings Changes

Several research analysts have weighed in on DGICA shares. Weiss Ratings cut shares of Donegal Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, May 11th. Keefe, Bruyette & Woods decreased their target price on shares of Donegal Group from $19.00 to $18.00 and set a "market perform" rating on the stock in a research report on Friday, May 1st. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $18.00.

Insider Buying and Selling

In other news, major shareholder Mutual Insurance Co Donegal purchased 9,000 shares of Donegal Group stock in a transaction that occurred on Tuesday, March 3rd. The shares were acquired at an average price of $17.63 per share, for a total transaction of $158,670.00. Following the transaction, the insider owned 13,937,704 shares of the company's stock, valued at approximately $245,721,721.52. The trade was a 0.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP William Daniel Delamater sold 9,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $17.63, for a total transaction of $158,670.00. Following the sale, the executive vice president owned 2,012 shares in the company, valued at $35,471.56. This represents a 81.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have acquired 110,405 shares of company stock worth $1,898,057. Company insiders own 2.75% of the company's stock.

Donegal Group Company Profile

Donegal Group, Inc NASDAQ: DGICA is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company's origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.

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