Donegal Group (NASDAQ:DGICA) Director Sells $57,030.00 in Stock

Key Points

• Donegal Group director Michael Kevin Callahan sold 3,000 shares for $57,030, reducing his direct holdings by 14.49% to 17,708 shares.
• The insurer reported quarterly EPS of $0.50, topping the $0.44 consensus, and revenue of $237.66 million versus expectations of $214.12 million. It also announced a $0.1925 quarterly dividend, equivalent to a 4.0% annualized yield.
• Analysts have a consensus Hold rating and an average price target of $20. Donegal shares rose 0.5% to $19.06 in Friday trading.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) Director Michael Kevin Callahan sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $19.01, for a total value of $57,030.00. Following the completion of the transaction, the director directly owned 17,708 shares in the company, valued at $336,629.08. This trade represents a 14.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Donegal Group Stock Up 0.5%

DGICA traded up $0.10 during trading on Friday, hitting $19.06. 40,492 shares of the company's stock traded hands, compared to its average volume of 123,208. The stock has a market capitalization of $707.51 million, a price-to-earnings ratio of 10.19 and a beta of -0.03. The company's 50 day simple moving average is $18.67 and its two-hundred day simple moving average is $18.15. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICA - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. The firm had revenue of $237.66 million during the quarter, compared to analysts' expectations of $214.12 million. Donegal Group had a return on equity of 10.45% and a net margin of 7.24%. Analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be given a $0.1925 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.77 dividend on an annualized basis and a yield of 4.0%. Donegal Group's payout ratio is 41.18%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DGICA. Zacks Research raised shares of Donegal Group from a "strong sell" rating to a "hold" rating in a report on Friday, October 16th. Weiss Ratings upgraded shares of Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $20.00.

Institutional Trading of Donegal Group

Hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position 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 worth $4,746,000 after purchasing an additional 80,614 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Donegal Group by 5.8% in the 1st quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider's stock worth $6,747,000 after purchasing an additional 21,500 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Donegal Group in the 2nd quarter worth approximately $344,000. First Trust Advisors LP boosted its holdings in shares of Donegal Group by 31.7% in the third quarter. First Trust Advisors LP now owns 74,434 shares of the insurance provider's stock worth $1,324,000 after buying an additional 17,915 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new position in shares of Donegal Group in the second quarter worth approximately $273,000. Hedge funds and other institutional investors own 27.96% of the company's stock.

Donegal Group Company Profile

Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers' compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.

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