Donegal Group (NASDAQ:DGICA) VP Sells $44,499.00 in Stock

Key Points

• Donegal Group VP Vincent Viozzi sold 2,282 shares for $44,499, reducing his direct ownership by 28.02% to 5,861 shares.
• The insurer exceeded quarterly expectations, reporting $0.53 EPS versus the $0.42 consensus and revenue of $241.12 million. It also maintains a $0.1925 quarterly dividend, equivalent to a 4.0% yield.
• Analysts have a consensus “Hold” rating and a $20 price target, while institutional investors own 27.96% of the company’s stock.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) VP Vincent Viozzi sold 2,282 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $19.50, for a total value of $44,499.00. Following the sale, the vice president directly owned 5,861 shares of the company's stock, valued at $114,289.50. This represents a 28.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Donegal Group Stock Up 0.4%

DGICA stock opened at $19.42 on Friday. Donegal Group, Inc. has a twelve month low of $16.11 and a twelve month high of $21.06. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock's 50 day moving average is $18.97 and its 200-day moving average is $17.91. The firm has a market capitalization of $720.87 million, a PE ratio of 10.06 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.11. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The company had revenue of $241.12 million for the quarter, compared to analysts' expectations of $231.53 million. Sell-side analysts expect that Donegal Group, Inc. will post 1.75 EPS for the current fiscal 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 paid a $0.1925 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. Donegal Group's dividend payout ratio is presently 39.90%.

Institutional Trading of Donegal Group

A number of large investors have recently added to or reduced their stakes in DGICA. Royce & Associates LP raised its stake in shares of Donegal Group by 579.4% in the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider's stock valued at $3,394,000 after buying an additional 144,853 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Donegal Group by 41.2% during the 1st 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 stake in shares of Donegal Group by 145.0% during the 4th 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 period. Strs Ohio grew its stake in shares of Donegal Group by 3.7% during the 4th quarter. Strs Ohio now owns 28,300 shares of the insurance provider's stock worth $565,000 after acquiring an additional 1,000 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in 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 last quarter. Hedge funds and other institutional investors own 27.96% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Donegal Group from $18.00 to $20.00 and gave the stock a "market perform" rating in a 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 note 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. Based on data from MarketBeat.com, Donegal Group presently has an average rating of "Hold" and a consensus price target of $20.00.

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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