XTX Topco Ltd Purchases 5,935 Shares of Donegal Group, Inc. (NASDAQ:DGICA)

XTX Topco Ltd raised its stake in Donegal Group, Inc. (NASDAQ:DGICA) by 56.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,387 shares of the insurance provider’s stock after purchasing an additional 5,935 shares during the period. XTX Topco Ltd’s holdings in Donegal Group were worth $322,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of DGICA. Renaissance Technologies LLC lifted its holdings 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 acquiring an additional 97,795 shares during the period. Millennium Management LLC lifted its holdings 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 acquiring an additional 65,146 shares during the period. D. E. Shaw & Co. Inc. bought a new position in shares of Donegal Group during the 4th quarter worth about $704,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Donegal Group by 47.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 131,770 shares of the insurance provider’s stock worth $2,038,000 after acquiring an additional 42,251 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in shares of Donegal Group by 87.6% during the 4th quarter. Two Sigma Investments LP now owns 89,437 shares of the insurance provider’s stock worth $1,384,000 after acquiring an additional 41,763 shares during the period. 27.96% of the stock is owned by institutional investors.

Insider Activity

In other news, VP William Albert Folmar sold 18,000 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $20.67, for a total value of $372,060.00. Following the completion of the transaction, the vice president owned 950 shares of the company’s stock, valued at approximately $19,636.50. This represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Vincent Anthony Viozzi sold 19,173 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $20.24, for a total transaction of $388,061.52. Following the completion of the transaction, the vice president directly owned 8,143 shares of the company’s stock, valued at $164,814.32. This trade represents a 70.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,769 shares of company stock worth $1,551,766. 3.48% of the stock is owned by company insiders.

Donegal Group Price Performance

Shares of DGICA opened at $16.92 on Monday. The company has a market cap of $610.81 million, a price-to-earnings ratio of 7.11 and a beta of 0.01. Donegal Group, Inc. has a 1-year low of $14.00 and a 1-year high of $21.12. The company’s fifty day simple moving average is $18.64 and its 200 day simple moving average is $18.22. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.07. The company had revenue of $233.81 million for the quarter, compared to analyst estimates of $247.21 million. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. On average, research analysts forecast that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $0.1825 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $0.73 annualized dividend and a yield of 4.3%. Donegal Group’s dividend payout ratio is currently 30.67%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DGICA. Keefe, Bruyette & Woods raised their price objective 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, April 25th. Wall Street Zen cut shares of Donegal Group from a “buy” rating to a “hold” rating in a research report on Saturday.

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.