Hsbc Holdings PLC Has $936,000 Stake in Donegal Group, Inc. $DGICA

Hsbc Holdings PLC grew its stake in Donegal Group, Inc. (NASDAQ:DGICA) by 21.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,551 shares of the insurance provider’s stock after purchasing an additional 8,394 shares during the period. Hsbc Holdings PLC owned about 0.13% of Donegal Group worth $936,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CWM LLC boosted its stake in shares of Donegal Group by 78.0% in the 1st quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 2,263 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Donegal Group by 47.4% in the 1st quarter. Russell Investments Group Ltd. now owns 5,225 shares of the insurance provider’s stock valued at $103,000 after purchasing an additional 1,681 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Donegal Group by 117.2% in the 4th quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock valued at $130,000 after purchasing an additional 4,544 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Donegal Group in the 4th quarter valued at approximately $173,000. Finally, Deutsche Bank AG boosted its stake in shares of Donegal Group by 566.5% in the 1st quarter. Deutsche Bank AG now owns 12,863 shares of the insurance provider’s stock valued at $253,000 after purchasing an additional 10,933 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Donegal Group Stock Up 1.2%

NASDAQ:DGICA opened at $17.89 on Friday. The firm’s 50 day simple moving average is $18.09 and its 200 day simple moving average is $18.46. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.40 and a quick ratio of 0.40. Donegal Group, Inc. has a one year low of $14.06 and a one year high of $21.12. The company has a market cap of $653.16 million, a PE ratio of 7.52 and a beta of 0.01.

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

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $0.1825 per share. The ex-dividend date was Friday, August 1st. This represents a $0.73 annualized dividend and a yield of 4.1%. Donegal Group’s dividend payout ratio (DPR) is currently 30.67%.

Insider Activity at Donegal Group

In other Donegal Group news, Director David Charles King sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $17.51, for a total transaction of $78,795.00. Following the completion of the transaction, the director owned 2,500 shares in the company, valued at approximately $43,775. This trade represents a 64.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Mutual Insurance Co Donegal purchased 15,815 shares of the stock in a transaction on Tuesday, August 26th. The shares were purchased at an average price of $17.45 per share, with a total value of $275,971.75. Following the acquisition, the insider owned 13,457,436 shares in the company, valued at approximately $234,832,258.20. The trade was a 0.12% increase in their position. The disclosure for this purchase can be found here. 6.63% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Donegal Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Donegal Group presently has a consensus rating of “Hold” and an average price target of $18.00.

Donegal Group Company 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.