Rhumbline Advisers Sells 959 Shares of Donegal Group, Inc. $DGICA

Rhumbline Advisers cut its position in Donegal Group, Inc. (NASDAQ:DGICA) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,843 shares of the insurance provider’s stock after selling 959 shares during the quarter. Rhumbline Advisers owned about 0.07% of Donegal Group worth $527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC grew its stake in shares of Donegal Group by 78.0% in the first quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock valued at $101,000 after buying an additional 2,263 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Donegal Group by 47.4% in the first quarter. Russell Investments Group Ltd. now owns 5,225 shares of the insurance provider’s stock valued at $103,000 after buying an additional 1,681 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Donegal Group by 117.2% in the fourth quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock valued at $130,000 after buying an additional 4,544 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Donegal Group in the fourth quarter valued at $173,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Donegal Group by 167.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 12,905 shares of the insurance provider’s stock valued at $200,000 after purchasing an additional 8,071 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on DGICA shares. Janney Montgomery Scott raised Donegal Group from a “neutral” rating to a “buy” rating in a report on Tuesday, September 2nd. Wall Street Zen downgraded Donegal Group from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Zacks Research raised Donegal Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $18.00.

Donegal Group Stock Down 0.6%

DGICA stock opened at $19.25 on Wednesday. The company has a market cap of $702.82 million and a PE ratio of 8.09. The business has a 50-day simple moving average of $18.07 and a 200 day simple moving average of $18.76. Donegal Group, Inc. has a 52 week low of $14.12 and a 52 week high of $21.12. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06.

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

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $0.1825 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.73 annualized dividend and a yield of 3.8%. Donegal Group’s payout ratio is presently 30.67%.

Insider Buying and Selling

In other Donegal Group news, 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, with a total value of $356,800.00. Following the completion of the purchase, the insider owned 13,500,977 shares in the company, valued at $240,857,429.68. The trade was a 0.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 212,958 shares of company stock worth $3,965,746 over the last three months. 3.48% of the stock is currently owned by insiders.

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.