Donegal Group (NASDAQ:DGICA) Stock Passes Above 200 Day Moving Average of $13.82

Donegal Group Inc. (NASDAQ:DGICA)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.82 and traded as high as $15.05. Donegal Group shares last traded at $14.68, with a volume of 37,419 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 19th.

Donegal Group Stock Performance

The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $490.21 million, a P/E ratio of 91.75 and a beta of -0.05. The business has a fifty day moving average price of $14.71 and a 200-day moving average price of $13.83.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, July 25th. The insurance provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. Donegal Group had a net margin of 0.76% and a return on equity of 0.89%. The business had revenue of $246.77 million during the quarter, compared to analyst estimates of $243.00 million. On average, sell-side analysts expect that Donegal Group Inc. will post 0.45 EPS for the current year.

Donegal Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Thursday, August 1st. Donegal Group’s payout ratio is 431.25%.

Insider Transactions at Donegal Group

In related news, VP Vincent Anthony Viozzi sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $15.24, for a total transaction of $457,200.00. Following the completion of the transaction, the vice president now directly owns 9,891 shares in the company, valued at approximately $150,738.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Donegal Group news, VP Vincent Anthony Viozzi sold 30,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $15.24, for a total value of $457,200.00. Following the completion of the sale, the vice president now owns 9,891 shares in the company, valued at approximately $150,738.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Mutual Insurance Co Donegal purchased 9,024 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were acquired at an average cost of $14.96 per share, for a total transaction of $134,999.04. Following the completion of the acquisition, the insider now owns 12,104,114 shares of the company’s stock, valued at $181,077,545.44. The disclosure for this purchase can be found here. Insiders have purchased 139,437 shares of company stock valued at $2,062,143 over the last quarter. 6.63% of the stock is currently owned by company insiders.

Institutional Trading of Donegal Group

Several hedge funds have recently bought and sold shares of DGICA. Vanguard Group Inc. increased its holdings in shares of Donegal Group by 34.7% in the first quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after purchasing an additional 304,477 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Donegal Group by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,825,664 shares of the insurance provider’s stock worth $25,541,000 after acquiring an additional 53,632 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Donegal Group during the 2nd quarter worth approximately $448,000. Los Angeles Capital Management LLC bought a new position in shares of Donegal Group during the 1st quarter valued at approximately $293,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Donegal Group by 30.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock valued at $1,072,000 after purchasing an additional 17,614 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

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.