Los Angeles Capital Management LLC Cuts Stock Position in Donegal Group Inc. (NASDAQ:DGICA)

Los Angeles Capital Management LLC decreased its stake in shares of Donegal Group Inc. (NASDAQ:DGICA) by 17.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 29,907 shares of the insurance provider’s stock after selling 6,200 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Donegal Group were worth $463,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in Donegal Group by 4.2% in the fourth quarter. Bank of New York Mellon Corp now owns 122,417 shares of the insurance provider’s stock worth $1,894,000 after buying an additional 4,967 shares during the last quarter. Private Advisor Group LLC bought a new position in Donegal Group in the 4th quarter valued at approximately $177,000. Bleakley Financial Group LLC purchased a new stake in Donegal Group during the 4th quarter valued at $244,000. SG Americas Securities LLC purchased a new stake in Donegal Group during the 4th quarter valued at $128,000. Finally, Barclays PLC increased its holdings in shares of Donegal Group by 38.7% in the 3rd quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock worth $957,000 after purchasing an additional 18,132 shares in the last quarter. 27.96% of the stock is owned by institutional investors.

Insider Transactions at Donegal Group

In other news, VP Vincent Anthony Viozzi sold 30,000 shares of Donegal Group stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $16.67, for a total transaction of $500,100.00. Following the transaction, the vice president now owns 9,891 shares in the company, valued at $164,882.97. This trade represents a 75.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Mutual Insurance Co Donegal acquired 14,700 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $17.06 per share, with a total value of $250,782.00. Following the transaction, the insider now owns 13,189,273 shares in the company, valued at approximately $225,008,997.38. This trade represents a 0.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 392,768 shares of company stock worth $6,537,289 and have sold 243,888 shares worth $4,048,422. Company insiders own 6.63% of the company’s stock.

Donegal Group Trading Up 3.9 %

Shares of NASDAQ:DGICA opened at $18.17 on Tuesday. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $18.19. The stock’s fifty day moving average price is $15.22 and its 200-day moving average price is $15.31. The company has a market cap of $615.89 million, a P/E ratio of 11.95 and a beta of -0.02. 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) last announced its quarterly earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.39. The firm had revenue of $249.70 million for the quarter, compared to the consensus estimate of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. Sell-side analysts expect that Donegal Group Inc. will post 1.2 earnings per share for the current year.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were paid a dividend of $0.1725 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a yield of 3.80%. Donegal Group’s payout ratio is currently 45.39%.

Donegal Group Profile

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.