David Benjamin Bawel Sells 8,326 Shares of Donegal Group (NASDAQ:DGICA) Stock

Key Points

• Donegal Group’s chief accounting officer David Bawel sold 8,326 shares for approximately $160,525, reducing his holdings by 27.16% to 22,331 shares.
• DGICA shares recently traded at $19.22, near their 50-day average, while the company has a market capitalization of about $713 million and a price-to-earnings ratio of 9.95.
• Donegal Group exceeded quarterly earnings and revenue expectations, reporting $0.53 EPS and $241.12 million in revenue. The company maintains a quarterly dividend of $0.1925, equivalent to a 4.0% annualized yield, while analysts have a consensus “Hold” rating.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) CAO David Bawel sold 8,326 shares of Donegal Group stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $19.28, for a total value of $160,525.28. Following the sale, the chief accounting officer owned 22,331 shares in the company, valued at $430,541.68. This represents a 27.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Donegal Group Stock Down 0.2%

Shares of DGICA stock traded down $0.04 during mid-day trading on Friday, reaching $19.22. 11,578 shares of the company were exchanged, compared to its average volume of 125,434. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The business's 50 day simple moving average is $19.00 and its 200 day simple moving average is $17.95. The company has a market capitalization of $713.34 million, a P/E ratio of 9.95 and a beta of -0.01. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06.

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

Donegal Group Announces Dividend

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

Wall Street Analyst Weigh In

DGICA has been the topic of several research reports. Keefe, Bruyette & Woods upped their price target on 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 raised shares of Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $20.00.

Institutional Trading of Donegal Group

A number of institutional investors and hedge funds have recently made changes to their positions in DGICA. Royce & Associates LP lifted its holdings in shares of Donegal Group by 579.4% in the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider's stock worth $3,394,000 after purchasing an additional 144,853 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Donegal Group by 41.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider's stock valued at $4,746,000 after buying an additional 80,614 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Donegal Group by 145.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 67,726 shares of the insurance provider's stock worth $1,245,000 after acquiring an additional 40,078 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Donegal Group by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider's stock worth $29,846,000 after acquiring an additional 7,345 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Donegal Group by 5.8% in the 1st quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider's stock worth $2,862,000 after acquiring an additional 9,075 shares during the period. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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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