JPMorgan Chase & Co. Has $865,000 Stock Position in Donegal Group Inc. (NASDAQ:DGICA)

JPMorgan Chase & Co. boosted its position in shares of Donegal Group Inc. (NASDAQ:DGICA - Free Report) by 109.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,942 shares of the insurance provider's stock after purchasing an additional 29,177 shares during the period. JPMorgan Chase & Co. owned 0.17% of Donegal Group worth $865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DGICA. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Donegal Group by 124.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider's stock worth $3,647,000 after acquiring an additional 130,489 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Donegal Group by 137.8% during the fourth quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider's stock worth $1,615,000 after purchasing an additional 60,491 shares during the period. Virtu Financial LLC acquired a new position in Donegal Group during the fourth quarter valued at approximately $420,000. Barclays PLC raised its position in shares of Donegal Group by 38.7% in the third quarter. Barclays PLC now owns 64,952 shares of the insurance provider's stock valued at $957,000 after purchasing an additional 18,132 shares during the period. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Donegal Group in the fourth quarter worth $244,000. Institutional investors own 27.96% of the company's stock.

Insider Activity

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal bought 8,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $18.14 per share, with a total value of $145,120.00. Following the completion of the purchase, the insider now directly owns 13,334,382 shares in the company, valued at $241,885,689.48. The trade was a 0.06 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William Daniel Delamater sold 12,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $17.77, for a total transaction of $213,240.00. Following the completion of the transaction, the executive vice president now directly owns 1,495 shares of the company's stock, valued at $26,566.15. This trade represents a 88.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 105,908 shares of company stock valued at $1,865,086 and sold 47,307 shares valued at $849,327. 6.63% of the stock is owned by company insiders.

Donegal Group Stock Performance

NASDAQ:DGICA traded up $0.24 during mid-day trading on Friday, hitting $19.60. 135,590 shares of the company's stock traded hands, compared to its average volume of 81,852. The firm has a market capitalization of $698.52 million, a price-to-earnings ratio of 12.89 and a beta of -0.05. The firm has a 50 day moving average of $18.46 and a two-hundred day moving average of $16.49. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $20.51.

Donegal Group (NASDAQ:DGICA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.38. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. The company had revenue of $245.57 million during the quarter, compared to analysts' expectations of $248.73 million. On average, equities analysts forecast that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.1825 per share. This is an increase from Donegal Group's previous quarterly dividend of $0.17. The ex-dividend date is Thursday, May 1st. This represents a $0.73 annualized dividend and a dividend yield of 3.72%. Donegal Group's payout ratio is presently 35.61%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their target price on shares of Donegal Group from $17.00 to $18.00 and gave the company a "market perform" rating in a research note on Friday, April 25th.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.