Insider Selling: Donegal Group Inc. (NASDAQ:DGICA) CAO Sells 9,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) CAO David Benjamin Bawel sold 9,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $15.50, for a total value of $139,500.00. Following the sale, the chief accounting officer now owns 19,665 shares of the company’s stock, valued at $304,807.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Donegal Group Stock Performance

Shares of DGICA stock opened at $15.15 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.39. Donegal Group Inc. has a one year low of $12.26 and a one year high of $15.84. The company’s 50-day simple moving average is $14.93 and its 200-day simple moving average is $14.01. The stock has a market capitalization of $507.28 million, a price-to-earnings ratio of 19.93 and a beta of -0.06.

Donegal Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.172 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.54%. Donegal Group’s payout ratio is 90.79%.

Hedge Funds Weigh In On Donegal Group

Several large investors have recently modified their holdings of the stock. Squarepoint Ops LLC bought a new position in shares of Donegal Group during the second quarter worth about $448,000. Hsbc Holdings PLC lifted its position in shares of Donegal Group by 7.8% during the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after purchasing an additional 2,250 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Donegal Group by 95.2% during the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock worth $520,000 after purchasing an additional 19,707 shares during the last quarter. Innealta Capital LLC bought a new position in Donegal Group in the second quarter worth about $27,000. Finally, Bank of New York Mellon Corp lifted its holdings in Donegal Group by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock worth $1,669,000 after acquiring an additional 5,416 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Donegal Group from a “buy” rating to a “strong-buy” rating in a research note 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.