JPMorgan Chase & Co. Has $865,000 Stock Holdings in Donegal Group Inc. (NASDAQ:DGICA)

JPMorgan Chase & Co. grew its position in Donegal Group Inc. (NASDAQ:DGICA) by 109.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,942 shares of the insurance provider’s stock after purchasing an additional 29,177 shares during the period. JPMorgan Chase & Co. owned about 0.17% of Donegal Group worth $865,000 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. Connor Clark & Lunn Investment Management Ltd. boosted its position in Donegal Group by 124.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider’s stock worth $3,647,000 after purchasing an additional 130,489 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Donegal Group by 137.8% in the fourth quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider’s stock valued at $1,615,000 after acquiring an additional 60,491 shares during the period. Virtu Financial LLC purchased a new stake in shares of Donegal Group during the 4th quarter valued at $420,000. Barclays PLC grew its position in Donegal Group by 38.7% in the third quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock worth $957,000 after acquiring an additional 18,132 shares in the last quarter. Finally, Bleakley Financial Group LLC purchased a new position in Donegal Group in the fourth quarter worth $244,000. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Insider Activity at Donegal Group

In other news, major shareholder Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $17.85 per share, with a total value of $267,750.00. Following the purchase, the insider now directly owns 13,219,273 shares in the company, valued at $235,964,023.05. The trade was a 0.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David Wayne Sponic sold 5,537 shares of Donegal Group stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $18.17, for a total value of $100,607.29. Following the completion of the sale, the senior vice president now directly owns 2,006 shares in the company, valued at approximately $36,449.02. The trade was a 73.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 105,908 shares of company stock worth $1,865,086 and sold 47,119 shares worth $845,651. 6.63% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their price target on shares of Donegal Group from $17.00 to $18.00 and gave the company a “market perform” rating in a research report on Friday.

Donegal Group Price Performance

DGICA stock opened at $19.43 on Tuesday. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $20.51. The company has a market cap of $692.47 million, a P/E ratio of 12.78 and a beta of -0.05. The firm has a 50-day moving average of $18.18 and a 200 day moving average of $16.37. 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 (NASDAQ:DGICA) last announced its earnings results on Thursday, April 24th. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.38. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. The business had revenue of $245.57 million during the quarter, compared to the consensus estimate of $248.73 million. On average, sell-side analysts forecast that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Thursday, May 1st. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is 35.61%.

Donegal Group 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.