Donegal Group (NASDAQ:DGICA) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Donegal Group, Inc. (NASDAQ:DGICA)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.03 and traded as high as $19.41. Donegal Group shares last traded at $18.98, with a volume of 124,258 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Zacks Research cut Donegal Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Keefe, Bruyette & Woods upped their price objective on shares of Donegal Group from $20.00 to $21.00 and gave the company a “market perform” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, January 21st. Two investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Donegal Group Stock Performance

The stock has a market capitalization of $695.43 million, a P/E ratio of 7.84 and a beta of 0.04. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $19.61 and a two-hundred day moving average price of $19.03.

Donegal Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 3rd will be issued 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 (DPR) is presently 30.17%.

Insider Buying and Selling at Donegal Group

In other Donegal Group news, VP Kristi Spencer Altshuler sold 12,000 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $20.25, for a total value of $243,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Mutual Insurance Co Donegal purchased 51,404 shares of the stock in a transaction on Friday, November 21st. The stock was acquired at an average cost of $17.86 per share, for a total transaction of $918,075.44. Following the acquisition, the insider owned 13,784,361 shares in the company, valued at approximately $246,188,687.46. This represents a 0.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 247,529 shares of company stock worth $4,796,693 and sold 22,574 shares worth $453,249. Corporate insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Donegal Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Donegal Group by 139.8% during the 1st quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock valued at $774,000 after buying an additional 22,978 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Donegal Group by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock valued at $2,155,000 after acquiring an additional 8,004 shares during the last quarter. Empowered Funds LLC grew its position in Donegal Group by 1.9% during the first quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock valued at $1,802,000 after acquiring an additional 1,696 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Donegal Group during the first quarter worth approximately $689,000. Finally, CWM LLC lifted its holdings in shares of Donegal Group by 21.9% in the 2nd quarter. CWM LLC now owns 6,293 shares of the insurance provider’s stock worth $126,000 after acquiring an additional 1,130 shares during the last quarter. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

About Donegal Group

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.