Donegal Group Inc. (NASDAQ:DGICA) Shares Sold by Keeley Teton Advisors LLC

Keeley Teton Advisors LLC trimmed its position in shares of Donegal Group Inc. (NASDAQ:DGICA - Free Report) by 30.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,725 shares of the insurance provider's stock after selling 41,692 shares during the period. Keeley Teton Advisors LLC owned approximately 0.28% of Donegal Group worth $1,465,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Donegal Group in the fourth quarter worth $68,000. SG Americas Securities LLC acquired a new stake in Donegal Group in the 4th quarter valued at $128,000. XTX Topco Ltd purchased a new stake in shares of Donegal Group in the fourth quarter worth about $162,000. Private Advisor Group LLC purchased a new stake in shares of Donegal Group in the fourth quarter worth about $177,000. Finally, Townsquare Capital LLC acquired a new stake in shares of Donegal Group in the fourth quarter valued at about $195,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Donegal Group from $16.00 to $17.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th.

Donegal Group Stock Down 1.0 %

Donegal Group stock traded down $0.19 during midday trading on Monday, hitting $18.06. The stock had a trading volume of 6,564 shares, compared to its average volume of 77,792. The business has a fifty day moving average price of $17.74 and a 200 day moving average price of $16.18. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $19.87. The stock has a market cap of $643.46 million, a P/E ratio of 11.88 and a beta of -0.05. 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 quarterly earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.39. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. The business had revenue of $249.70 million during the quarter, compared to the consensus estimate of $250.61 million. Research analysts predict that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a $0.1825 dividend. This is an increase from Donegal Group's previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Thursday, May 1st. Donegal Group's dividend payout ratio (DPR) is presently 45.39%.

Insider Activity at Donegal Group

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal bought 15,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $17.85 per share, for a total transaction of $267,750.00. Following the transaction, the insider now directly owns 13,219,273 shares in the company, valued at $235,964,023.05. The trade was a 0.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Wayne Sponic sold 5,537 shares of the 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 completion of the transaction, the senior vice president now directly owns 2,006 shares of the company's stock, valued at approximately $36,449.02. The trade was a 73.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders acquired 105,908 shares of company stock valued at $1,865,086 and sold 47,119 shares valued at $845,651. Insiders own 6.63% of the company's stock.

Donegal Group 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.