David Wayne Sponic Sells 6,000 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) SVP David Wayne Sponic sold 6,000 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $17.99, for a total transaction of $107,940.00. Following the sale, the senior vice president now owns 2,006 shares in the company, valued at approximately $36,087.94. This trade represents a 74.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Donegal Group Stock Up 1.7 %

Shares of DGICA traded up $0.29 during mid-day trading on Tuesday, reaching $17.86. The company had a trading volume of 115,489 shares, compared to its average volume of 72,823. 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 company has a market capitalization of $605.38 million, a price-to-earnings ratio of 11.75 and a beta of -0.04. The firm has a 50-day moving average price of $15.51 and a 200 day moving average price of $15.45. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $18.19.

Donegal Group (NASDAQ:DGICA - Get Free Report) last released its earnings results on Thursday, February 20th. The insurance provider reported $0.69 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $250.61 million. On average, sell-side analysts forecast that Donegal Group Inc. will post 1.2 EPS for the current year.

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Donegal Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 3.86%. This is an increase from Donegal Group's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 4th. Donegal Group's dividend payout ratio is 45.39%.

Institutional Trading of Donegal Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Donegal Group by 82.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider's stock valued at $1,551,000 after buying an additional 47,447 shares during the last quarter. Foundry Partners LLC lifted its position in Donegal Group by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider's stock valued at $3,605,000 after acquiring an additional 2,310 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Donegal Group by 39.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider's stock valued at $896,000 after purchasing an additional 17,125 shares during the last quarter. Martingale Asset Management L P increased its holdings in shares of Donegal Group by 4.2% in the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider's stock worth $329,000 after purchasing an additional 902 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Donegal Group by 38.7% in the third quarter. Barclays PLC now owns 64,952 shares of the insurance provider's stock worth $957,000 after purchasing an additional 18,132 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors.

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.