Donegal Group Inc. (NASDAQ:DGICA) CFO Jeffrey Dean Miller Sells 85,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) CFO Jeffrey Dean Miller sold 85,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $16.67, for a total value of $1,416,950.00. Following the completion of the sale, the chief financial officer now directly owns 22,613 shares of the company’s stock, valued at approximately $376,958.71. This trade represents a 78.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Donegal Group Stock Down 0.8 %

DGICA stock opened at $16.35 on Tuesday. The company has a 50 day moving average of $15.48 and a two-hundred day moving average of $14.50. The company has a market cap of $554.27 million, a price-to-earnings ratio of 21.51 and a beta of -0.03. Donegal Group Inc. has a 12-month low of $12.26 and a 12-month high of $17.00. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07.

Donegal Group Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DGICA. Vanguard Group Inc. lifted its holdings in shares of Donegal Group by 34.7% during the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock valued at $16,728,000 after buying an additional 304,477 shares during the last quarter. Bank of New York Mellon Corp raised its position in Donegal Group by 4.4% during the second quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock valued at $1,669,000 after acquiring an additional 5,416 shares in the last quarter. Innealta Capital LLC acquired a new stake in Donegal Group in the second quarter valued at approximately $27,000. Los Angeles Capital Management LLC grew its position in Donegal Group by 95.2% in the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock worth $520,000 after acquiring an additional 19,707 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Donegal Group by 7.8% during the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after purchasing an additional 2,250 shares during the last quarter. Hedge funds and other 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 research report on Friday, October 25th.

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.