Foundry Partners LLC Sells 52,925 Shares of Donegal Group Inc. (NASDAQ:DGICA)

Foundry Partners LLC reduced its stake in Donegal Group Inc. (NASDAQ:DGICA - Free Report) by 21.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 191,675 shares of the insurance provider's stock after selling 52,925 shares during the quarter. Foundry Partners LLC owned 0.57% of Donegal Group worth $2,965,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DGICA. Arrowstreet Capital Limited Partnership raised its stake in shares of Donegal Group by 351.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider's stock worth $1,670,000 after purchasing an additional 84,029 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in Donegal Group in the fourth quarter valued at $217,000. JPMorgan Chase & Co. grew its position in shares of Donegal Group by 109.0% in the 4th quarter. JPMorgan Chase & Co. now owns 55,942 shares of the insurance provider's stock valued at $865,000 after acquiring an additional 29,177 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Donegal Group during the 4th quarter worth about $68,000. Finally, American Century Companies Inc. raised its holdings in shares of Donegal Group by 17.0% in the 4th quarter. American Century Companies Inc. now owns 26,006 shares of the insurance provider's stock valued at $402,000 after purchasing an additional 3,775 shares during the period. 27.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal acquired 12,000 shares of Donegal Group stock in a transaction that occurred on Tuesday, February 25th. The shares were acquired at an average cost of $16.49 per share, with a total value of $197,880.00. Following the completion of the purchase, the insider now directly owns 13,164,372 shares of the company's stock, valued at $217,080,494.28. This represents a 0.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP David Wayne Sponic sold 5,537 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $18.17, for a total value of $100,607.29. Following 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. Over the last quarter, insiders have purchased 105,908 shares of company stock worth $1,865,086 and have sold 47,119 shares worth $845,651. 6.63% of the stock is owned by company insiders.

Donegal Group Stock Performance

NASDAQ:DGICA traded down $0.20 during mid-day trading on Thursday, reaching $18.05. 23,331 shares of the company's stock were exchanged, compared to its average volume of 76,824. Donegal Group Inc. has a one year low of $12.26 and a one year high of $19.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The business's fifty day simple moving average is $17.30 and its two-hundred day simple moving average is $16.00. The firm has a market capitalization of $643.43 million, a PE ratio of 11.88 and a beta of -0.05.

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 (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.39. The business had revenue of $249.70 million during the quarter, compared to analysts' expectations of $250.61 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. Analysts anticipate that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

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.