Donegal Group (NASDAQ:DGICA) Sets New 12-Month High - Still a Buy?

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $18.90 and last traded at $18.45, with a volume of 142394 shares. The stock had previously closed at $18.55.

Donegal Group Trading Down 0.9 %

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's fifty day moving average price is $16.04 and its two-hundred day moving average price is $15.62. The company has a market capitalization of $649.70 million, a PE ratio of 11.99 and a beta of -0.04.

Donegal Group (NASDAQ:DGICA - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.39. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. The company had revenue of $249.70 million during the quarter, compared to the consensus estimate of $250.61 million. Sell-side analysts anticipate that Donegal Group Inc. will post 1.2 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Sanjay Pandey sold 5,915 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $18.01, for a total value of $106,529.15. Following the sale, the vice president now directly owns 7,449 shares of the company's stock, valued at $134,156.49. The trade was a 44.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock in a transaction dated Friday, March 14th. The shares were bought at an average price of $18.14 per share, with a total value of $145,120.00. Following the completion of the acquisition, the insider now directly owns 13,334,382 shares of the company's stock, valued at approximately $241,885,689.48. This represents a 0.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 105,908 shares of company stock valued at $1,865,086 and sold 47,119 shares valued at $845,651. 6.63% of the stock is owned by insiders.

Remove Ads

Hedge Funds Weigh In On Donegal Group

Several institutional investors and hedge funds have recently modified their holdings of DGICA. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Donegal Group by 124.0% during 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 acquiring an additional 130,489 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Donegal Group by 29.5% during the fourth quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider's stock valued at $6,638,000 after acquiring an additional 97,795 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Donegal Group by 351.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider's stock valued at $1,670,000 after acquiring an additional 84,029 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Donegal Group by 170.8% during the fourth quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider's stock valued at $1,598,000 after acquiring an additional 65,146 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Donegal Group by 137.8% during the fourth 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 in the last quarter. 27.96% of the stock is currently owned by institutional investors.

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.