Donegal Group (NASDAQ:DGICA) Sets New 1-Year High – Here’s What Happened

Donegal Group Inc. (NASDAQ:DGICA)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $18.95 and last traded at $18.82, with a volume of 37493 shares changing hands. The stock had previously closed at $18.33.

Donegal Group Stock Performance

The stock’s fifty day moving average price is $16.20 and its two-hundred day moving average price is $15.67. The company has a market cap of $668.41 million, a P/E ratio of 12.38 and a beta of -0.04. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38.

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

Insider Buying and Selling at Donegal Group

In other news, major shareholder Mutual Insurance Co Donegal bought 8,000 shares of the stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $18.14 per share, with a total value of $145,120.00. Following the acquisition, the insider now directly owns 13,334,382 shares in the company, valued at approximately $241,885,689.48. This trade represents a 0.06 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David Wayne Sponic sold 5,537 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $18.17, for a total value of $100,607.29. Following the completion of the transaction, the senior vice president now owns 2,006 shares of the company’s stock, valued at $36,449.02. This represents a 73.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 105,908 shares of company stock worth $1,865,086 and have sold 47,119 shares worth $845,651. Company insiders own 6.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DGICA. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Donegal Group by 82.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock valued at $1,551,000 after acquiring an additional 47,447 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Donegal Group by 39.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock worth $896,000 after purchasing an additional 17,125 shares during the last quarter. Martingale Asset Management L P lifted its holdings in Donegal Group by 4.2% during the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock worth $329,000 after buying an additional 902 shares during the period. Barclays PLC grew its position in shares of Donegal Group by 38.7% in the 3rd quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock valued at $957,000 after buying an additional 18,132 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Donegal Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock valued at $5,371,000 after buying an additional 4,933 shares during the period. Institutional investors and hedge funds 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.