Donegal Group Inc. (NASDAQ:DGICA) VP Sanjay Pandey Sells 5,915 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) VP Sanjay Pandey sold 5,915 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $18.01, for a total transaction of $106,529.15. Following the transaction, the vice president now directly owns 7,449 shares of the company’s stock, valued at $134,156.49. This represents a 44.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Donegal Group Trading Up 2.4 %

Shares of DGICA stock opened at $18.13 on Friday. Donegal Group Inc. has a 12-month low of $12.26 and a 12-month high of $18.25. The firm has a market cap of $614.53 million, a P/E ratio of 11.93 and a beta of -0.04. The business has a 50-day moving average price of $15.61 and a two-hundred day moving average price of $15.48. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.39. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. The business had revenue of $249.70 million during the quarter, compared to analyst estimates of $250.61 million. Equities analysts anticipate that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were issued a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 3.81%. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 4th. Donegal Group’s dividend payout ratio is presently 45.39%.

Institutional Trading of Donegal Group

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of Donegal Group by 3.0% during the fourth quarter. Bank of America Corp DE now owns 29,572 shares of the insurance provider’s stock worth $457,000 after acquiring an additional 871 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Donegal Group by 0.4% in the fourth quarter. Wells Fargo & Company MN now owns 223,593 shares of the insurance provider’s stock valued at $3,459,000 after acquiring an additional 897 shares during the period. Martingale Asset Management L P increased its holdings in Donegal Group by 4.2% in the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after buying an additional 902 shares in the last quarter. Corton Capital Inc. increased its position in shares of Donegal Group by 7.4% in the fourth quarter. Corton Capital Inc. now owns 16,101 shares of the insurance provider’s stock valued at $249,000 after buying an additional 1,108 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Donegal Group by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,492 shares of the insurance provider’s stock valued at $688,000 after purchasing an additional 1,773 shares in the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.