Donegal Group Inc. (NASDAQ:DGICA) Director Jon Marshall Mahan Sells 12,500 Shares

Donegal Group Inc. (NASDAQ:DGICA) Director Jon Marshall Mahan sold 12,500 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $16.15, for a total transaction of $201,875.00. Following the transaction, the director now owns 8,988 shares in the company, valued at $145,156.20. This represents a 58.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Donegal Group Stock Performance

DGICA opened at $16.33 on Friday. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $17.00. The company has a market cap of $553.59 million, a price-to-earnings ratio of 21.49 and a beta of -0.03. The company’s fifty day moving average price is $15.63 and its two-hundred day moving average price is $14.57. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.172 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.21%. Donegal Group’s dividend payout ratio is presently 90.79%.

Hedge Funds Weigh In On Donegal Group

Several large investors have recently added to or reduced their stakes in DGICA. Vanguard Group Inc. grew its stake in shares of Donegal Group by 34.7% in the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after acquiring an additional 304,477 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Donegal Group by 82.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock worth $1,551,000 after purchasing an additional 47,447 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Donegal Group by 95.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after buying an additional 19,707 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Donegal Group by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock worth $1,669,000 after buying an additional 5,416 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Donegal Group in the 2nd quarter worth approximately $448,000. Institutional investors own 27.96% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded 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.