Wedbush Securities Inc. Reduces Stake in Donegal Group Inc. (NASDAQ:DGICA)

Wedbush Securities Inc. trimmed its position in shares of Donegal Group Inc. (NASDAQ:DGICA) by 26.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,020 shares of the insurance provider’s stock after selling 11,775 shares during the period. Wedbush Securities Inc. owned about 0.10% of Donegal Group worth $425,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Donegal Group by 34.7% in the 1st 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 period. EntryPoint Capital LLC purchased a new position in Donegal Group in the first quarter worth about $137,000. Empowered Funds LLC boosted its stake in Donegal Group by 8.2% during the first quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock worth $1,573,000 after buying an additional 8,400 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Donegal Group by 125.0% in the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after buying an additional 5,757 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Donegal Group in the 1st quarter worth about $293,000. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Insider Activity

In other Donegal Group news, VP Vincent Anthony Viozzi sold 30,000 shares of the company’s 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 sale, the vice president now owns 9,891 shares of the company’s stock, valued at $150,738.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Mutual Insurance Co Donegal bought 8,390 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was bought at an average price of $15.00 per share, with a total value of $125,850.00. Following the transaction, the insider now owns 12,337,025 shares of the company’s stock, valued at $185,055,375. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Vincent Anthony Viozzi sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were 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 of the company’s stock, valued at $150,738.84. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 133,432 shares of company stock worth $1,970,027. 6.63% of the stock is currently owned by insiders.

Donegal Group Price Performance

Shares of DGICA opened at $15.35 on Friday. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $15.41. The stock has a market capitalization of $512.58 million, a PE ratio of 95.94 and a beta of -0.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.39. The company has a 50 day moving average price of $14.46 and a 200-day moving average price of $13.75.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, July 25th. The insurance provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The firm had revenue of $246.77 million for the quarter, compared to the consensus estimate of $243.00 million. Donegal Group had a return on equity of 0.89% and a net margin of 0.76%. Equities analysts predict that Donegal Group Inc. will post 0.45 earnings per share for the current fiscal 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 issued a dividend of $0.172 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $0.69 annualized dividend and a yield of 4.48%. Donegal Group’s dividend payout ratio (DPR) is 431.25%.

Donegal Group Company 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.