Donegal Group Inc. (NASDAQ:DGICA) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its holdings in shares of Donegal Group Inc. (NASDAQ:DGICA - Free Report) by 351.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,951 shares of the insurance provider's stock after purchasing an additional 84,029 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.32% of Donegal Group worth $1,670,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in Donegal Group during the 4th quarter valued at $68,000. SG Americas Securities LLC purchased a new position in shares of Donegal Group during the 4th quarter worth about $128,000. Private Advisor Group LLC bought a new position in Donegal Group during the 4th quarter valued at about $177,000. Orion Portfolio Solutions LLC bought a new stake in Donegal Group in the fourth quarter worth about $217,000. Finally, Inceptionr LLC purchased a new position in shares of Donegal Group during the fourth quarter valued at approximately $218,000. Institutional investors own 27.96% of the company's stock.

Donegal Group Trading Up 0.9 %

Shares of DGICA traded up $0.17 during trading hours on Wednesday, reaching $18.32. 3,432 shares of the company traded hands, compared to its average volume of 77,239. The firm has a market cap of $652.91 million, a price-to-earnings ratio of 12.05 and a beta of -0.05. Donegal Group Inc. has a 12-month low of $12.26 and a 12-month high of $21.42. The stock's fifty day moving average price is $17.55 and its 200 day moving average price is $16.10. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its earnings results on Thursday, February 20th. The insurance provider reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.39. The business had revenue of $249.70 million for the quarter, compared to the consensus estimate of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. Sell-side analysts forecast that Donegal Group Inc. will post 1.2 earnings per share for the current year.

Insiders Place Their Bets

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal acquired 12,000 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average cost of $16.49 per share, with a total value of $197,880.00. Following the completion of the acquisition, the insider now directly owns 13,164,372 shares in the company, valued at $217,080,494.28. This represents a 0.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Wayne Sponic sold 5,537 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $18.17, for a total value of $100,607.29. Following the sale, the senior vice president now owns 2,006 shares of the company's stock, valued at approximately $36,449.02. This represents a 73.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 105,908 shares of company stock worth $1,865,086 and sold 47,119 shares worth $845,651. Company insiders own 6.63% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their price target on Donegal Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th.

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.