Donegal Group (NASDAQ:DGICA) Reaches New 1-Year High - Here's What Happened

Shares of Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $19.79 and last traded at $19.63, with a volume of 114035 shares traded. The stock had previously closed at $19.41.

Donegal Group Stock Up 0.3 %

The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $698.17 million, a PE ratio of 12.89 and a beta of -0.05. The company's 50 day moving average is $16.78 and its two-hundred day moving average is $15.84.

Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $249.70 million during the quarter, compared to analyst estimates of $250.61 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. On average, analysts anticipate that Donegal Group Inc. will post 1.2 earnings per share for the current year.

Insider Transactions at Donegal Group

In other Donegal Group news, SVP David Wayne Sponic sold 5,537 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $18.17, for a total transaction of $100,607.29. Following the sale, the senior vice president now directly owns 2,006 shares in the company, valued at $36,449.02. This represents a 73.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Mutual Insurance Co Donegal bought 14,700 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $17.06 per share, with a total value of $250,782.00. Following the acquisition, the insider now owns 13,189,273 shares in the company, valued at approximately $225,008,997.38. This trade represents a 0.11 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 105,908 shares of company stock valued at $1,865,086 and have sold 47,119 shares valued at $845,651. Insiders own 6.63% of the company's stock.

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Institutional Investors Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently made changes to their positions in DGICA. Dimensional Fund Advisors LP boosted its holdings in Donegal Group by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,804,968 shares of the insurance provider's stock valued at $27,923,000 after acquiring an additional 27,213 shares during the period. Renaissance Technologies LLC increased its stake in Donegal Group by 29.5% in the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider's stock worth $6,638,000 after buying an additional 97,795 shares during the period. Geode Capital Management LLC boosted its position in Donegal Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider's stock valued at $5,371,000 after buying an additional 4,933 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Donegal Group by 124.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider's stock valued at $3,647,000 after purchasing an additional 130,489 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Donegal Group by 0.4% during the 4th quarter. Wells Fargo & Company MN now owns 223,593 shares of the insurance provider's stock worth $3,459,000 after buying an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company's stock.

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.