Kevin Gerard Burke Sells 90,000 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) insider Kevin Gerard Burke sold 90,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $16.67, for a total value of $1,500,300.00. Following the transaction, the insider now directly owns 10,710 shares in the company, valued at approximately $178,535.70. This represents a 89.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Donegal Group Trading Down 0.2 %

Shares of NASDAQ:DGICA traded down $0.03 during trading hours on Monday, hitting $16.46. 46,480 shares of the company’s stock traded hands, compared to its average volume of 61,568. The firm has a market capitalization of $557.99 million, a P/E ratio of 21.66 and a beta of -0.03. The business has a fifty day moving average price of $15.45 and a 200-day moving average price of $14.48. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $17.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38.

Donegal Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $0.172 dividend. This represents a $0.69 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Friday, November 1st. Donegal Group’s dividend payout ratio (DPR) is presently 90.79%.

Institutional Trading of Donegal Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Donegal Group by 34.7% during the first quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after acquiring an additional 304,477 shares during the period. Bank of New York Mellon Corp increased its holdings in Donegal Group by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock worth $1,669,000 after purchasing an additional 5,416 shares during the period. Innealta Capital LLC bought a new stake in Donegal Group during the 2nd quarter valued at $27,000. Los Angeles Capital Management LLC lifted its holdings in shares of Donegal Group by 95.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock worth $520,000 after buying an additional 19,707 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Donegal Group by 7.8% during the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after buying an additional 2,250 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th.

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.