Donegal Group, Inc. $DGICA Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its holdings in shares of Donegal Group, Inc. (NASDAQ:DGICA) by 47.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,225 shares of the insurance provider’s stock after purchasing an additional 1,681 shares during the quarter. Russell Investments Group Ltd.’s holdings in Donegal Group were worth $103,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its stake in Donegal Group by 24.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,875 shares of the insurance provider’s stock valued at $272,000 after purchasing an additional 2,695 shares in the last quarter. GAMMA Investing LLC grew its stake in Donegal Group by 4,607.4% during the 1st quarter. GAMMA Investing LLC now owns 14,075 shares of the insurance provider’s stock valued at $276,000 after purchasing an additional 13,776 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Donegal Group by 87.6% in 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 in the last quarter. XTX Topco Ltd grew its position in shares of Donegal Group by 56.8% in the 1st quarter. XTX Topco Ltd now owns 16,387 shares of the insurance provider’s stock worth $322,000 after acquiring an additional 5,935 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of Donegal Group in the 4th quarter worth approximately $704,000. Institutional investors and hedge funds own 27.96% of the company’s stock.

Insiders Place Their Bets

In other Donegal Group news, Director David Charles King sold 4,500 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $17.51, for a total value of $78,795.00. Following the transaction, the director owned 2,500 shares in the company, valued at $43,775. The trade was a 64.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Mutual Insurance Co Donegal bought 20,000 shares of the stock in a transaction on Friday, August 29th. The stock was purchased at an average price of $17.84 per share, for a total transaction of $356,800.00. Following the purchase, the insider directly owned 13,500,977 shares of the company’s stock, valued at approximately $240,857,429.68. This represents a 0.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 59,356 shares of company stock worth $1,045,468 in the last quarter. 3.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DGICA shares. Janney Montgomery Scott upgraded Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday. Wall Street Zen downgraded Donegal Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.00.

Donegal Group Stock Performance

Shares of NASDAQ DGICA opened at $18.39 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $671.42 million and a price-to-earnings ratio of 7.73. The stock’s fifty day simple moving average is $18.01 and its 200 day simple moving average is $18.50. Donegal Group, Inc. has a 52-week low of $14.06 and a 52-week high of $21.12.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, July 24th. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%.The business had revenue of $233.81 million for the quarter, compared to analysts’ expectations of $247.21 million. As a group, sell-side analysts forecast that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.1825 per share. The ex-dividend date was Friday, August 1st. This represents a $0.73 dividend on an annualized basis and a dividend yield of 4.0%. Donegal Group’s payout ratio is currently 30.67%.

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.