Acadian Asset Management LLC Purchases 20,729 Shares of Donegal Group, Inc. $DGICA

Acadian Asset Management LLC raised its position in shares of Donegal Group, Inc. (NASDAQ:DGICA) by 13.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,552 shares of the insurance provider’s stock after acquiring an additional 20,729 shares during the period. Acadian Asset Management LLC owned approximately 0.50% of Donegal Group worth $3,591,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. CSM Advisors LLC acquired a new position in shares of Donegal Group during the 2nd quarter worth about $3,699,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Donegal Group by 33.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider’s stock worth $7,132,000 after buying an additional 88,462 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Donegal Group by 78.7% in the second quarter. Teacher Retirement System of Texas now owns 191,376 shares of the insurance provider’s stock valued at $3,832,000 after acquiring an additional 84,263 shares during the period. Informed Momentum Co LLC bought a new stake in shares of Donegal Group in the first quarter valued at approximately $1,039,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Donegal Group in the second quarter worth $939,000. 27.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen cut shares of Donegal Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Zacks Research upgraded shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Janney Montgomery Scott upgraded Donegal Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 2nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Donegal Group presently has a consensus rating of “Buy” and an average target price of $18.00.

Donegal Group Stock Performance

Shares of Donegal Group stock opened at $19.98 on Friday. Donegal Group, Inc. has a 52 week low of $14.17 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. The business has a 50 day moving average price of $19.25 and a 200-day moving average price of $18.95. The company has a market cap of $729.45 million, a PE ratio of 8.39 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.15. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%.The business had revenue of $245.92 million during the quarter, compared to the consensus estimate of $244.19 million. Equities analysts anticipate that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.1825 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $0.73 annualized dividend and a dividend yield of 3.7%. Donegal Group’s dividend payout ratio (DPR) is currently 30.17%.

Insiders Place Their Bets

In related news, major shareholder Mutual Insurance Co Donegal acquired 29,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average price of $19.53 per share, for a total transaction of $566,370.00. Following the completion of the acquisition, the insider owned 13,737,670 shares of the company’s stock, valued at approximately $268,296,695.10. This represents a 0.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have bought 280,049 shares of company stock worth $5,267,289 and have sold 14,400 shares worth $271,026. Insiders own 6.63% of the company’s stock.

Donegal Group 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.