Donegal Group (NASDAQ:DGICA) Shares Gap Down - Time to Sell?

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $15.89, but opened at $15.00. Donegal Group shares last traded at $15.15, with a volume of 66,736 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Donegal Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 25th.

Donegal Group Trading Down 0.3 %

The company's 50 day simple moving average is $15.01 and its two-hundred day simple moving average is $14.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market cap of $530.39 million, a PE ratio of 19.93 and a beta of -0.06.

Donegal Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.172 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, November 1st. Donegal Group's payout ratio is 90.79%.

Insider Buying and Selling

In related news, major shareholder Mutual Insurance Co Donegal acquired 9,800 shares of the business's stock in a transaction on Friday, August 16th. The shares were bought at an average price of $14.78 per share, with a total value of $144,844.00. Following the completion of the acquisition, the insider now owns 12,185,745 shares in the company, valued at $180,105,311.10. This trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barry C. Huber sold 4,500 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $15.70, for a total transaction of $70,650.00. Following the sale, the director now directly owns 14,867 shares in the company, valued at approximately $233,411.90. The trade was a 23.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 276,264 shares of company stock worth $4,241,923 and sold 90,500 shares worth $1,395,850. 6.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Donegal Group

A number of institutional investors have recently modified their holdings of the business. Martingale Asset Management L P raised its position in Donegal Group by 4.2% during the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider's stock worth $329,000 after buying an additional 902 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 worth $896,000 after buying an additional 17,125 shares during the last quarter. Foundry Partners LLC raised its position in Donegal Group by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider's stock worth $3,605,000 after buying an additional 2,310 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Donegal Group by 82.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider's stock worth $1,551,000 after buying an additional 47,447 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Donegal Group during the 2nd quarter worth $448,000. 27.96% of the stock is owned by institutional investors and hedge funds.

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.