David Wayne Sponic Sells 6,000 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) SVP David Wayne Sponic sold 6,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $17.99, for a total transaction of $107,940.00. Following the transaction, the senior vice president now owns 2,006 shares in the company, valued at $36,087.94. This represents a 74.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Donegal Group Stock Down 0.5 %

Donegal Group stock opened at $17.90 on Friday. The company has a market capitalization of $606.74 million, a P/E ratio of 11.78 and a beta of -0.05. The firm’s fifty day simple moving average is $15.42 and its 200-day simple moving average is $15.40. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $18.19.

Donegal Group (NASDAQ:DGICA) last released its quarterly 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. The business had revenue of $249.70 million for the quarter, compared to the consensus estimate of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. Sell-side analysts forecast that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Tuesday, February 4th. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio (DPR) is 45.39%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new position in Donegal Group in the 4th quarter worth $68,000. SG Americas Securities LLC bought a new position in Donegal Group in the 4th quarter worth $128,000. BNP Paribas Financial Markets raised its holdings in Donegal Group by 117.2% in the 4th quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock worth $130,000 after acquiring an additional 4,544 shares during the period. XTX Topco Ltd bought a new position in shares of Donegal Group during the 4th quarter worth about $162,000. Finally, Private Advisor Group LLC bought a new position in shares of Donegal Group during the 4th quarter worth about $177,000. Institutional investors own 27.96% of the company’s stock.

About Donegal Group

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.