Barry Craig Huber Sells 4,500 Shares of Donegal Group (NASDAQ:DGICA) Stock

Key Points

• Director Barry Craig Huber sold 4,500 Donegal Group shares at an average price of $19.43, generating $87,435; his remaining ownership fell by 21.36% to 16,567 shares.
• Donegal Group reported quarterly EPS of $0.53, exceeding estimates of $0.42, while revenue of $241.12 million also surpassed expectations.
• The company pays a quarterly dividend of $0.1925, equivalent to $0.77 annually and a 4.0% yield; analysts maintain a consensus “Hold” rating with a $20 average price target.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) Director Barry Craig Huber sold 4,500 shares of the business's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $19.43, for a total value of $87,435.00. Following the sale, the director directly owned 16,567 shares in the company, valued at $321,896.81. This trade represents a 21.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Donegal Group Trading Up 0.4%

Shares of NASDAQ DGICA opened at $19.42 on Friday. 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, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The company has a market cap of $720.87 million, a price-to-earnings ratio of 10.06 and a beta of -0.01. The business has a fifty day simple moving average of $18.97 and a 200-day simple moving average of $17.91.

Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.11. The firm had revenue of $241.12 million for the quarter, compared to analysts' expectations of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. Sell-side analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.1925 dividend. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group's dividend payout ratio (DPR) is 39.90%.

Wall Street Analyst Weigh In

DGICA has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Donegal Group from $18.00 to $20.00 and gave the company a "market perform" rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, August 28th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Donegal Group has a consensus rating of "Hold" and an average target price of $20.00.

Hedge Funds Weigh In On Donegal Group

A number of large investors have recently made changes to their positions in DGICA. Smartleaf Asset Management LLC lifted its position in shares of Donegal Group by 576.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider's stock worth $55,000 after purchasing an additional 2,341 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake 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 buying an additional 2,975 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Donegal Group by 31.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider's stock valued at $75,000 after buying an additional 896 shares during the period. IFP Advisors Inc lifted its position 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 worth $75,000 after buying an additional 3,513 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position 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 worth $99,000 after buying an additional 4,022 shares in the last quarter. Institutional investors and hedge funds own 27.96% 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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