Donegal Group (NASDAQ:DGICA) Hits New 52-Week High – What’s Next?

Shares of Donegal Group Inc. (NASDAQ:DGICA) hit a new 52-week high during trading on Wednesday . The stock traded as high as $17.50 and last traded at $16.51, with a volume of 273 shares changing hands. The stock had previously closed at $16.62.

Donegal Group Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market cap of $566.40 million, a PE ratio of 10.99 and a beta of -0.02. The company’s 50-day simple moving average is $15.07 and its 200 day simple moving average is $15.23.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, February 20th. The insurance provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.30 by $0.39. The firm had revenue of $249.70 million for the quarter, compared to analyst estimates of $250.61 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. On average, sell-side analysts predict that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were paid a dividend of $0.1725 per share. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 4th. This represents a $0.69 annualized dividend and a yield of 4.13%. Donegal Group’s payout ratio is presently 45.39%.

Insider Buying and Selling

In related news, CFO Jeffrey Dean Miller sold 85,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $16.67, for a total transaction of $1,416,950.00. Following the completion of the sale, the chief financial officer now owns 22,613 shares in the company, valued at $376,958.71. The trade was a 78.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Vincent Anthony Viozzi sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $16.29, for a total value of $171,045.00. Following the completion of the sale, the vice president now owns 9,891 shares of the company’s stock, valued at approximately $161,124.39. This represents a 51.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 382,722 shares of company stock worth $6,366,086 and sold 285,298 shares worth $4,736,884. 5.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Donegal Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new stake in Donegal Group in the fourth quarter valued at approximately $68,000. SG Americas Securities LLC purchased a new stake in shares of Donegal Group during the fourth quarter worth approximately $128,000. BNP Paribas Financial Markets raised its stake in shares of Donegal Group by 117.2% during the fourth quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock worth $130,000 after purchasing an additional 4,544 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Donegal Group during the fourth quarter worth approximately $162,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Donegal Group during the fourth quarter worth approximately $177,000. Hedge funds and other institutional investors own 27.96% of the company’s stock.

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.