Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) VP Kristi Spencer Altshuler sold 15,239 shares of Donegal Group stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $19.38, for a total value of $295,331.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Donegal Group Stock Performance
DGICA stock traded up $0.30 during mid-day trading on Monday, hitting $19.90. 51,009 shares of the company were exchanged, compared to its average volume of 106,265. The business has a 50 day simple moving average of $18.46 and a 200-day simple moving average of $16.50. The stock has a market capitalization of $709.29 million, a PE ratio of 13.10 and a beta of -0.05. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $20.51. 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 (NASDAQ:DGICA - Get Free Report) last released 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 business had revenue of $245.57 million for the quarter, compared to analyst estimates of $248.73 million. On average, equities analysts forecast that Donegal Group Inc. will post 1.2 earnings per share for the current year.
Donegal Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a $0.1825 dividend. This is an increase from Donegal Group's previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Thursday, May 1st. Donegal Group's payout ratio is 35.61%.
Hedge Funds Weigh In On Donegal Group
Large investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position in shares of Donegal Group by 3.0% in the 4th quarter. Bank of America Corp DE now owns 29,572 shares of the insurance provider's stock worth $457,000 after purchasing an additional 871 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Donegal Group by 0.4% in the fourth quarter. Wells Fargo & Company MN now owns 223,593 shares of the insurance provider's stock valued at $3,459,000 after purchasing an additional 897 shares in the last quarter. Corton Capital Inc. lifted its holdings in shares of Donegal Group by 7.4% in the 4th quarter. Corton Capital Inc. now owns 16,101 shares of the insurance provider's stock worth $249,000 after acquiring an additional 1,108 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Donegal Group by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,492 shares of the insurance provider's stock worth $688,000 after buying an additional 1,773 shares during the period. Finally, CWM LLC boosted its position in Donegal Group by 78.0% during the first quarter. CWM LLC now owns 5,163 shares of the insurance provider's stock valued at $101,000 after purchasing an additional 2,263 shares in the last quarter. 27.96% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Keefe, Bruyette & Woods increased their target price on Donegal Group from $17.00 to $18.00 and gave the company a "market perform" rating in a research note on Friday, April 25th.
View Our Latest Stock Analysis on Donegal Group
About Donegal Group
(
Get Free Report)
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.
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