Donegal Group (NASDAQ:DGICA) VP Kristi Spencer Altshuler Sells 12,000 Shares
Donegal Group VP Kristi Spencer Altshuler sold 12,000 shares at $20.25 each, totaling $243,000. The transaction was disclosed in an SEC filing. Donegal Group's stock traded at $19.72, with a market cap of $722.54 million. The company reported strong quarterly earnings, beating estimates, and declared a quarterly dividend. Institutional investors have been adjusting their stakes in the company. Analysts have given the stock a 'Buy' rating with an average price target of $18.00.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) VP Kristi Spencer Altshuler sold 12,000 shares of Donegal Group stock in a transaction on Monday, December 1st. The stock was sold at an average price of $20.25, for a total value of $243,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
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Donegal Group Price Performance
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NASDAQ DGICA traded down $0.15 during trading hours on Wednesday, reaching $19.72. The company's stock had a trading volume of 21,978 shares, compared to its average volume of 129,562. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39. The company's 50-day moving average is $19.40 and its two-hundred day moving average is $18.95. Donegal Group, Inc. has a fifty-two week low of $14.17 and a fifty-two week high of $21.12. The stock has a market cap of $722.54 million, a PE ratio of 8.15 and a beta of 0.04.
Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.15. The company had revenue of $245.92 million for the quarter, compared to the consensus estimate of $244.19 million. Donegal Group had a net margin of 8.72% and a return on equity of 14.28%. Analysts forecast that Donegal Group, Inc. will post 1.2 EPS for the current year.
Donegal Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were given a dividend of $0.1825 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $0.73 annualized dividend and a yield of 3.7%. Donegal Group's dividend payout ratio (DPR) is presently 30.17%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in Donegal Group during the third quarter valued at about $26,000. Versant Capital Management Inc lifted its stake in shares of Donegal Group by 79.1% in the 3rd quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider's stock valued at $58,000 after purchasing an additional 1,329 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Donegal Group by 477.2% during the 2nd quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider's stock worth $59,000 after purchasing an additional 2,448 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider's stock worth $74,000 after purchasing an additional 2,975 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Donegal Group by 443.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider's stock worth $99,000 after purchasing an additional 4,022 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company's stock.
Wall Street Analysts Forecast Growth
DGICA has been the topic of a number of recent analyst reports. Zacks Research raised Donegal Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Janney Montgomery Scott upgraded Donegal Group from a "neutral" rating to a "buy" rating in a research report on Tuesday, September 2nd. Wall Street Zen cut Donegal Group from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Donegal Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Donegal Group currently has an average rating of "Buy" and an average price target of $18.00.
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About Donegal Group
(Get Free Report)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.
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