Donegal Group Inc. (NASDAQ:DGICA) Director Jon Marshall Mahan Sells 12,500 Shares

Donegal Group Inc. (NASDAQ:DGICA) Director Jon Marshall Mahan sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $16.15, for a total transaction of $201,875.00. Following the completion of the sale, the director now owns 8,988 shares of the company’s stock, valued at $145,156.20. This trade represents a 58.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Donegal Group Price Performance

DGICA traded up $0.06 during midday trading on Wednesday, reaching $16.32. 28,361 shares of the company’s stock were exchanged, compared to its average volume of 61,981. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $553.25 million, a PE ratio of 21.40 and a beta of -0.03. The business’s 50-day moving average price is $15.48 and its 200 day moving average price is $14.50. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $17.00.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders 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 yield of 4.22%. The ex-dividend date of this dividend was Friday, November 1st. Donegal Group’s payout ratio is currently 90.79%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Donegal Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in Donegal Group in the second quarter valued at approximately $27,000. Martingale Asset Management L P lifted its position in Donegal Group by 4.2% during the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after buying an additional 902 shares in the last quarter. Hsbc Holdings PLC lifted its position in Donegal Group by 7.8% during the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock valued at $389,000 after buying an additional 2,250 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Donegal Group during the second quarter valued at approximately $448,000. Finally, Los Angeles Capital Management LLC lifted its position in Donegal Group by 95.2% during the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after buying an additional 19,707 shares in the last quarter. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

About Donegal Group

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.