Donegal Group Inc. (NASDAQ:DGICA) Plans Quarterly Dividend of $0.17

Donegal Group Inc. (NASDAQ:DGICA) announced a quarterly dividend on Thursday, October 17th, Zacks reports. Investors of record on Friday, November 1st will be paid a dividend of 0.172 per share by the insurance provider on Friday, November 15th. This represents a $0.69 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Friday, November 1st.

Donegal Group has raised its dividend by an average of 4.3% annually over the last three years and has increased its dividend annually for the last 20 consecutive years. Donegal Group has a payout ratio of 60.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Donegal Group to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.69 annual dividend with an expected future payout ratio of 72.6%.

Donegal Group Stock Down 1.2 %

Shares of Donegal Group stock opened at $15.46 on Thursday. Donegal Group has a 1 year low of $12.26 and a 1 year high of $15.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market capitalization of $517.66 million, a P/E ratio of 96.63 and a beta of -0.06. The business has a 50-day moving average of $14.91 and a two-hundred day moving average of $13.99.

Insider Activity at Donegal Group

In other Donegal Group news, VP Vincent Anthony Viozzi sold 30,000 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $15.24, for a total transaction of $457,200.00. Following the completion of the transaction, the vice president now owns 9,891 shares in the company, valued at approximately $150,738.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Mutual Insurance Co Donegal acquired 8,951 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $13.50 per share, for a total transaction of $120,838.50. Following the completion of the transaction, the insider now directly owns 12,123,065 shares of the company’s stock, valued at approximately $163,661,377.50. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Vincent Anthony Viozzi sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $15.24, for a total value of $457,200.00. Following the completion of the transaction, the vice president now directly owns 9,891 shares in the company, valued at $150,738.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 130,413 shares of company stock valued at $1,927,144. 6.63% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a report on Friday, October 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.