Donegal Group Inc. (NASDAQ:DGICA) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its position in shares of Donegal Group Inc. (NASDAQ:DGICA) by 2.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,785,665 shares of the insurance provider’s stock after selling 38,557 shares during the period. Dimensional Fund Advisors LP owned 0.05% of Donegal Group worth $22,999,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Donegal Group during the 2nd quarter worth about $27,000. EntryPoint Capital LLC purchased a new position in Donegal Group in the first quarter valued at approximately $137,000. BNP Paribas Financial Markets increased its stake in Donegal Group by 125.0% in the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock valued at $147,000 after purchasing an additional 5,757 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Donegal Group during the first quarter worth approximately $293,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Donegal Group by 30.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock worth $1,072,000 after buying an additional 17,614 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Donegal Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.

Insider Buying and Selling

In related news, major shareholder Mutual Insurance Co Donegal purchased 8,951 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $13.50 per share, with a total value of $120,838.50. Following the completion of the acquisition, the insider now directly owns 12,123,065 shares in the company, valued at approximately $163,661,377.50. The transaction was disclosed in a legal 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 business’s stock in a transaction 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 transaction, the vice president now directly owns 9,891 shares of the company’s stock, valued at approximately $150,738.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Mutual Insurance Co Donegal bought 8,951 shares of Donegal Group stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $13.50 per share, with a total value of $120,838.50. Following the purchase, the insider now directly owns 12,123,065 shares in the company, valued at approximately $163,661,377.50. The disclosure for this purchase can be found here. Insiders acquired a total of 139,437 shares of company stock worth $2,062,143 in the last 90 days. Company insiders own 6.63% of the company’s stock.

Donegal Group Stock Down 1.4 %

DGICA opened at $14.40 on Friday. The stock has a market capitalization of $480.86 million, a P/E ratio of 90.00 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. Donegal Group Inc. has a one year low of $12.26 and a one year high of $15.45. The business’s 50-day simple moving average is $14.75 and its 200-day simple moving average is $13.85.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The company had revenue of $246.77 million for the quarter, compared to analyst estimates of $243.00 million. Donegal Group had a return on equity of 0.89% and a net margin of 0.76%. Analysts anticipate that Donegal Group Inc. will post 0.45 EPS for the current year.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a $0.172 dividend. The ex-dividend date was Thursday, August 1st. This represents a $0.69 annualized dividend and a yield of 4.78%. Donegal Group’s dividend payout ratio (DPR) is 431.25%.

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.