Janney Montgomery Scott LLC grew its stake in shares of Donegal Group Inc. (NASDAQ:DGICA) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,909 shares of the insurance provider’s stock after buying an additional 1,200 shares during the period. Janney Montgomery Scott LLC owned 0.45% of Donegal Group worth $1,828,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in shares of Donegal Group by 4.0% during the third quarter. Wells Fargo & Company MN now owns 335,856 shares of the insurance provider’s stock worth $4,726,000 after purchasing an additional 12,991 shares in the last quarter. Mackay Shields LLC purchased a new position in shares of Donegal Group during the third quarter worth about $145,000. BNP Paribas Arbitrage SA boosted its stake in Donegal Group by 575.5% in the third quarter. BNP Paribas Arbitrage SA now owns 2,621 shares of the insurance provider’s stock worth $37,000 after buying an additional 2,233 shares in the last quarter. Bowling Portfolio Management LLC purchased a new stake in Donegal Group in the third quarter worth approximately $250,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Donegal Group in the third quarter worth approximately $467,000. Hedge funds and other institutional investors own 27.43% of the company’s stock.
In other Donegal Group news, major shareholder Mutual Insurance Co Donegal bought 180,000 shares of Donegal Group stock in a transaction that occurred on Thursday, September 10th. The shares were bought at an average cost of $14.79 per share, with a total value of $2,662,200.00. Following the transaction, the insider now directly owns 10,132,692 shares of the company’s stock, valued at approximately $149,862,514.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert Richard Long, Jr. sold 3,000 shares of the business’s stock in a transaction dated Friday, November 13th. The shares were sold at an average price of $14.31, for a total value of $42,930.00. Over the last ninety days, insiders have sold 134,207 shares of company stock valued at $1,972,523. 9.30% of the stock is currently owned by corporate insiders.
A number of research firms have recently weighed in on DGICA. BidaskClub lowered Donegal Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 7th. ValuEngine downgraded Donegal Group from a “sell” rating to a “strong sell” rating in a report on Monday, October 12th. Finally, Zacks Investment Research downgraded Donegal Group from a “hold” rating to a “sell” rating in a report on Thursday, October 22nd.
Shares of DGICA opened at $14.30 on Friday. The business’s 50 day moving average is $14.49 and its 200 day moving average is $14.23. The company has a market capitalization of $416.29 million, a PE ratio of 7.81 and a beta of 0.04. Donegal Group Inc. has a 12-month low of $11.22 and a 12-month high of $16.19. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.18.
Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Wednesday, October 28th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.18. Donegal Group had a return on equity of 10.77% and a net margin of 6.71%. Equities research analysts predict that Donegal Group Inc. will post 1.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 16th. Shareholders of record on Monday, November 2nd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend was Friday, October 30th. Donegal Group’s dividend payout ratio (DPR) is presently 59.41%.
Donegal Group Company Profile
Donegal Group Inc, an insurance holding company, provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance.
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