Donegal Group Inc. (NASDAQ:DGICA) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP raised its position in Donegal Group Inc. (NASDAQ:DGICA) by 87.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 89,437 shares of the insurance provider’s stock after buying an additional 41,763 shares during the quarter. Two Sigma Investments LP owned about 0.26% of Donegal Group worth $1,384,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of DGICA. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Donegal Group by 124.0% during the 4th 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 in the last quarter. Renaissance Technologies LLC boosted its position in shares of Donegal Group by 29.5% during the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock worth $6,638,000 after purchasing an additional 97,795 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Donegal Group by 351.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider’s stock worth $1,670,000 after purchasing an additional 84,029 shares in the last quarter. Millennium Management LLC boosted its position in shares of Donegal Group by 170.8% during the 4th quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider’s stock worth $1,598,000 after purchasing an additional 65,146 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Donegal Group by 137.8% during the 4th quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider’s stock worth $1,615,000 after purchasing an additional 60,491 shares in the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Mutual Insurance Co Donegal bought 71,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average price of $19.83 per share, with a total value of $1,407,930.00. Following the purchase, the insider now owns 13,441,621 shares of the company’s stock, valued at $266,547,344.43. This trade represents a 0.53% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David Wayne Sponic sold 6,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $17.99, for a total transaction of $107,940.00. Following the completion of the transaction, the senior vice president now directly owns 2,006 shares of the company’s stock, valued at $36,087.94. The trade was a 74.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 156,447 shares of company stock worth $2,989,216 and have sold 197,693 shares worth $3,880,717. Insiders own 6.63% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on DGICA shares. Wall Street Zen upgraded shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Keefe, Bruyette & Woods boosted their target price on shares of Donegal Group from $17.00 to $18.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th.

Donegal Group Price Performance

Donegal Group stock opened at $19.94 on Wednesday. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $21.12. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. The firm’s 50-day simple moving average is $19.34 and its 200 day simple moving average is $17.21. The firm has a market capitalization of $719.77 million, a PE ratio of 13.12 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.72 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $248.73 million. On average, equities research analysts predict that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a $0.1825 dividend. The ex-dividend date of this dividend was Thursday, May 1st. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 3.66%. Donegal Group’s payout ratio is currently 35.61%.

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.