Donegal Group (NASDAQ:DGICA) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Donegal Group, Inc. (NASDAQ:DGICA) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.03 and traded as high as $20.04. Donegal Group shares last traded at $19.29, with a volume of 100,749 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DGICA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on shares of Donegal Group from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 6th. Finally, Zacks Research cut shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Donegal Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Donegal Group Trading Down 2.8%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market cap of $706.79 million, a price-to-earnings ratio of 7.97 and a beta of 0.05. The company’s 50 day simple moving average is $19.93 and its two-hundred day simple moving average is $19.03.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.37 by $0.15. Donegal Group had a net margin of 8.72% and a return on equity of 14.28%. The business had revenue of $245.92 million for the quarter, compared to analysts’ expectations of $244.19 million. Research analysts expect that Donegal Group, Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 3rd will be given a $0.1825 dividend. This represents a $0.73 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, February 3rd. Donegal Group’s dividend payout ratio is presently 30.17%.

Insider Transactions at Donegal Group

In other news, major shareholder Mutual Insurance Co Donegal purchased 22,819 shares of Donegal Group stock in a transaction dated Wednesday, December 10th. The stock was acquired at an average cost of $20.05 per share, for a total transaction of $457,520.95. Following the acquisition, the insider directly owned 13,913,704 shares in the company, valued at $278,969,765.20. This represents a 0.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin Michael Sr Kraft, Sr. sold 4,500 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $20.02, for a total value of $90,090.00. Following the completion of the transaction, the director owned 13,436 shares in the company, valued at $268,988.72. This represents a 25.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 263,529 shares of company stock valued at $5,099,413 and sold 27,074 shares valued at $539,064. Company insiders own 3.48% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Donegal Group by 5.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,578 shares of the insurance provider’s stock valued at $282,000 after acquiring an additional 703 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Donegal Group by 8.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 1,000 shares during the last quarter. CWM LLC boosted its stake in Donegal Group by 21.9% during the 2nd quarter. CWM LLC now owns 6,293 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 1,130 shares during the period. Qube Research & Technologies Ltd grew its holdings in Donegal Group by 1.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider’s stock valued at $2,576,000 after buying an additional 1,274 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Donegal Group by 79.1% in the 3rd quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock worth $58,000 after buying an additional 1,329 shares during the period. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Donegal Group Company Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.