13,705 Shares in Donegal Group Inc. (NASDAQ:DGICA) Purchased by PDT Partners LLC

PDT Partners LLC acquired a new stake in shares of Donegal Group Inc. (NASDAQ:DGICA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,705 shares of the insurance provider's stock, valued at approximately $212,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in shares of Donegal Group in the 4th quarter valued at about $68,000. SG Americas Securities LLC purchased a new position in shares of Donegal Group during the fourth quarter worth approximately $128,000. XTX Topco Ltd purchased a new stake in shares of Donegal Group in the 4th quarter worth $162,000. Private Advisor Group LLC bought a new stake in shares of Donegal Group in the 4th quarter valued at about $177,000. Finally, Townsquare Capital LLC purchased a new stake in shares of Donegal Group during the fourth quarter valued at about $195,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

Donegal Group Stock Performance

DGICA stock traded up $0.06 during trading on Thursday, hitting $19.77. 21,820 shares of the company traded hands, compared to its average volume of 82,619. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $20.51. The company has a market cap of $704.58 million, a PE ratio of 13.07 and a beta of -0.05. The stock's 50-day simple moving average is $18.61 and its 200 day simple moving average is $16.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38.

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

Donegal Group Increases Dividend

The firm 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 a boost from Donegal Group's previous quarterly dividend of $0.17. The ex-dividend date is Thursday, May 1st. This represents a $0.73 dividend on an annualized basis and a yield of 3.69%. Donegal Group's dividend payout ratio is presently 35.61%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price target 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.

Insider Activity

In other Donegal Group news, VP Kristi Spencer Altshuler sold 15,239 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $19.38, for a total value of $295,331.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Mutual Insurance Co Donegal purchased 36,239 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was bought at an average price of $19.38 per share, with a total value of $702,311.82. Following the completion of the transaction, the insider now directly owns 13,370,621 shares of the company's stock, valued at approximately $259,122,634.98. This represents a 0.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 142,147 shares of company stock worth $2,567,398 and sold 62,992 shares worth $1,153,356. Company insiders own 6.63% of the company's stock.

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.