Insider Selling: Donegal Group Inc. (NASDAQ:DGICA) SVP Sells $100,607.29 in Stock

Donegal Group Inc. (NASDAQ:DGICA) SVP David Wayne Sponic sold 5,537 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $18.17, for a total value of $100,607.29. Following the completion of the transaction, the senior vice president now directly owns 2,006 shares in the company, valued at $36,449.02. This trade represents a 73.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

David Wayne Sponic also recently made the following trade(s):

• On Thursday, March 6th, David Wayne Sponic sold 6,000 shares of Donegal Group stock. The stock was sold at an average price of $17.99, for a total value of $107,940.00.

Donegal Group Stock Up 0.4 %

Shares of NASDAQ DGICA opened at $18.20 on Monday. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $18.26. The firm has a market cap of $616.91 million, a price-to-earnings ratio of 11.97 and a beta of -0.04. 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’s 50-day simple moving average is $15.67 and its 200-day simple moving average is $15.51.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.39. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. The business had revenue of $249.70 million for the quarter, compared to analyst estimates of $250.61 million. As a group, equities analysts anticipate that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were given a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.79%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 4th. Donegal Group’s payout ratio is presently 45.39%.

Institutional Trading of Donegal Group

A number of hedge funds and other institutional investors have recently modified their holdings of DGICA. Bank of America Corp DE increased its holdings in Donegal Group by 3.0% in the fourth quarter. Bank of America Corp DE now owns 29,572 shares of the insurance provider’s stock valued at $457,000 after buying an additional 871 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Donegal Group by 0.4% in the fourth quarter. Wells Fargo & Company MN now owns 223,593 shares of the insurance provider’s stock valued at $3,459,000 after buying an additional 897 shares during the last quarter. Martingale Asset Management L P increased its holdings in Donegal Group by 4.2% in the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after buying an additional 902 shares during the last quarter. Corton Capital Inc. increased its holdings in Donegal Group by 7.4% in the fourth quarter. Corton Capital Inc. now owns 16,101 shares of the insurance provider’s stock valued at $249,000 after buying an additional 1,108 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Donegal Group by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,492 shares of the insurance provider’s stock valued at $688,000 after buying an additional 1,773 shares during the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.