Donegal Group (NASDAQ:DGICA) Hits New 1-Year High – What’s Next?

Shares of Donegal Group Inc. (NASDAQ:DGICA) reached a new 52-week high during trading on Wednesday . The stock traded as high as $18.95 and last traded at $18.82, with a volume of 37493 shares changing hands. The stock had previously closed at $18.33.

Donegal Group Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market cap of $691.75 million, a price-to-earnings ratio of 12.77 and a beta of -0.04. The stock has a fifty day simple moving average of $16.38 and a two-hundred day simple moving average of $15.71.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share 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 firm had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $250.61 million. Analysts expect that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Mutual Insurance Co Donegal bought 12,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was acquired at an average cost of $16.49 per share, with a total value of $197,880.00. Following the transaction, the insider now directly owns 13,164,372 shares in the company, valued at approximately $217,080,494.28. This trade represents a 0.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sanjay Pandey sold 5,915 shares of Donegal Group stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $18.01, for a total value of $106,529.15. Following the transaction, the vice president now directly owns 7,449 shares in the company, valued at $134,156.49. The trade was a 44.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 105,908 shares of company stock valued at $1,865,086 and sold 47,119 shares valued at $845,651. Insiders own 6.63% of the company’s stock.

Institutional Trading of Donegal Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new stake in Donegal Group during the fourth quarter worth approximately $68,000. SG Americas Securities LLC bought a new position in shares of Donegal Group during the 4th quarter worth approximately $128,000. BNP Paribas Financial Markets grew its position in shares of Donegal Group by 117.2% during the 4th quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock worth $130,000 after buying an additional 4,544 shares during the period. XTX Topco Ltd bought a new stake in shares of Donegal Group in the 4th quarter valued at $162,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Donegal Group during the 4th quarter valued at $173,000. Institutional investors and hedge funds 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.