William Daniel Delamater Sells 9,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Key Points

• EVP William Daniel Delamater sold 9,000 shares of Donegal Group on March 3 at an average price of $17.63 for $158,670, leaving him with 2,012 shares (an 81.73% reduction), per an SEC filing.
• Donegal (NASDAQ:DGICA) is trading around $17.61 with a market cap of about $645M and a P/E of 8.04, and it recently missed quarterly estimates with EPS of $0.50 versus $0.52 and slightly lower revenue.
• The company pays a quarterly dividend that annualizes to $0.73 for a 4.1% yield (DPR 33.33%), and analysts have a consensus rating of Moderate Buy with a $19.50 target amid mixed broker opinions.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) EVP William Daniel Delamater sold 9,000 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $17.63, for a total value of $158,670.00. Following the completion of the transaction, the executive vice president directly owned 2,012 shares in the company, valued at $35,471.56. The trade was a 81.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Donegal Group Trading Down 1.0%

DGICA traded down $0.18 during midday trading on Thursday, reaching $17.61. 35,090 shares of the company were exchanged, compared to its average volume of 118,448. The stock has a market capitalization of $645.27 million, a P/E ratio of 8.04 and a beta of 0.05. Donegal Group, Inc. has a one year low of $16.50 and a one year high of $21.12. The stock's 50-day simple moving average is $18.85 and its 200 day simple moving average is $19.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39.

Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The insurance provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.02). Donegal Group had a net margin of 8.11% and a return on equity of 12.99%. The company had revenue of $240.14 million during the quarter, compared to the consensus estimate of $241.10 million. As a group, analysts forecast that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 3rd were issued a $0.1825 dividend. The ex-dividend date was Tuesday, February 3rd. This represents a $0.73 annualized dividend and a yield of 4.1%. Donegal Group's dividend payout ratio (DPR) is 33.33%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DGICA. Keefe, Bruyette & Woods decreased their price target on shares of Donegal Group from $21.00 to $19.50 and set a "market perform" rating for the company in a report on Friday, February 20th. Weiss Ratings reiterated a "buy (b)" rating on shares of Donegal Group in a report on Wednesday, January 21st. Finally, Zacks Research cut Donegal Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, December 19th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.50.

Institutional Investors Weigh In On Donegal Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in Donegal Group in the 3rd quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its holdings in shares of Donegal Group by 576.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider's stock valued at $55,000 after purchasing an additional 2,341 shares during the last quarter. Allworth Financial LP lifted its position in shares of Donegal Group by 477.2% in the second quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider's stock worth $59,000 after purchasing an additional 2,448 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Donegal Group by 79.1% during the third quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider's stock worth $58,000 after purchasing an additional 1,329 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Donegal Group by 422.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider's stock worth $74,000 after purchasing an additional 2,975 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company's stock.

About Donegal Group

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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