Donegal Group Inc. (NASDAQ:DGICA) Insider Kevin Gerard Burke Sells 90,000 Shares

Donegal Group Inc. (NASDAQ:DGICA) insider Kevin Gerard Burke sold 90,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $16.67, for a total value of $1,500,300.00. Following the completion of the sale, the insider now owns 10,710 shares of the company’s stock, valued at approximately $178,535.70. This represents a 89.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Donegal Group Stock Performance

NASDAQ DGICA opened at $16.35 on Tuesday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $15.48 and a 200 day simple moving average of $14.50. Donegal Group Inc. has a 12-month low of $12.26 and a 12-month high of $17.00. The company has a market cap of $554.27 million, a P/E ratio of 21.51 and a beta of -0.03.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.172 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Friday, November 1st. Donegal Group’s payout ratio is presently 90.79%.

Hedge Funds Weigh In On Donegal Group

Several large investors have recently added to or reduced their stakes in DGICA. Innealta Capital LLC bought a new stake in Donegal Group during the 2nd quarter worth approximately $27,000. Martingale Asset Management L P boosted its position in shares of Donegal Group by 4.2% during the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after buying an additional 902 shares during the last quarter. Hsbc Holdings PLC grew its holdings in 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 buying an additional 2,250 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Donegal Group during the second quarter worth $448,000. Finally, Los Angeles Capital Management LLC raised its position in Donegal Group by 95.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after buying an additional 19,707 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 report on Friday, October 25th.

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.