Donegal Group (NASDAQ:DGICA) Reaches New 12-Month High - What's Next?

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company 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 Down 4.7 %

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 stock has a market cap of $665.02 million, a P/E ratio of 12.28 and a beta of -0.05. The company's 50 day moving average price is $16.96 and its two-hundred day moving average price is $15.89.

Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its 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 analyst estimates of $250.61 million. As a group, research analysts expect that Donegal Group Inc. will post 1.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP David Wayne Sponic sold 6,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $17.99, for a total value of $107,940.00. Following the sale, the senior vice president now directly owns 2,006 shares in the company, valued at approximately $36,087.94. This trade represents a 74.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Mutual Insurance Co Donegal acquired 12,000 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was purchased at an average cost of $16.49 per share, for a total transaction of $197,880.00. Following the transaction, the insider now owns 13,164,372 shares in the company, valued at approximately $217,080,494.28. The trade was a 0.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 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.

Institutional Investors Weigh In On Donegal Group

Several institutional investors have recently added to or reduced their stakes in DGICA. Connor Clark & Lunn Investment Management Ltd. grew its stake in Donegal Group by 124.0% during the 4th 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 last quarter. Renaissance Technologies LLC boosted its position in Donegal Group by 29.5% in the fourth quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider's stock valued at $6,638,000 after buying an additional 97,795 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Donegal Group by 351.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider's stock worth $1,670,000 after buying an additional 84,029 shares during the period. Millennium Management LLC raised its position in Donegal Group by 170.8% during the 4th quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider's stock worth $1,598,000 after buying an additional 65,146 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Donegal Group by 137.8% during the 4th quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider's stock valued at $1,615,000 after acquiring an additional 60,491 shares during the period. Institutional investors and hedge funds own 27.96% of the company's stock.

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.