Los Angeles Capital Management LLC Sells 4,300 Shares of Donegal Group Inc. (NASDAQ:DGICA)

Los Angeles Capital Management LLC cut its stake in Donegal Group Inc. (NASDAQ:DGICA) by 10.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,107 shares of the insurance provider’s stock after selling 4,300 shares during the period. Los Angeles Capital Management LLC owned 0.11% of Donegal Group worth $532,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Donegal Group in the 2nd quarter worth about $27,000. EntryPoint Capital LLC bought a new stake in Donegal Group in the first quarter worth approximately $137,000. BNP Paribas Financial Markets lifted its stake in Donegal Group by 125.0% in the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock valued at $147,000 after buying an additional 5,757 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Donegal Group by 7.8% during the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after buying an additional 2,250 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Donegal Group during the 2nd quarter worth approximately $448,000. Institutional investors and hedge funds own 27.96% of the company’s stock.

Insider Buying and Selling

In other Donegal Group news, CAO David Benjamin Bawel sold 9,000 shares of Donegal Group stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $15.50, for a total value of $139,500.00. Following the sale, the chief accounting officer now owns 19,665 shares of the company’s stock, valued at approximately $304,807.50. The trade was a 31.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christina Marie Hoffman sold 30,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $15.82, for a total transaction of $474,600.00. Following the transaction, the vice president now directly owns 4,289 shares of the company’s stock, valued at $67,851.98. This represents a 87.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 266,464 shares of company stock worth $4,097,079 and have sold 120,500 shares worth $1,870,450. 6.63% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 25th.

Donegal Group Trading Down 0.3 %

NASDAQ DGICA opened at $15.79 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $15.04 and a 200 day simple moving average of $14.15. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $16.00. The firm has a market capitalization of $528.65 million, a P/E ratio of 20.78 and a beta of -0.06.

Donegal Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.172 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date was Friday, November 1st. Donegal Group’s payout ratio is currently 90.79%.

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.