Insider Selling: Donegal Group Inc. (NASDAQ:DGICA) Director Sells 12,500 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) Director Jon Marshall Mahan sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $16.15, for a total transaction of $201,875.00. Following the sale, the director now directly owns 8,988 shares in the company, valued at approximately $145,156.20. The trade was a 58.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Donegal Group Stock Up 0.4 %

NASDAQ DGICA traded up $0.06 on Wednesday, hitting $16.32. 28,361 shares of the stock were exchanged, compared to its average volume of 61,981. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $17.00. The company has a market cap of $553.25 million, a PE ratio of 21.40 and a beta of -0.03. The company has a 50-day moving average price of $15.48 and a 200-day moving average price of $14.50.

Donegal Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.172 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend was Friday, November 1st. Donegal Group’s payout ratio is 90.79%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new stake in Donegal Group during the 2nd quarter worth $27,000. Martingale Asset Management L P raised its position 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 last quarter. Hsbc Holdings PLC raised its position in 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 during the last quarter. Squarepoint Ops LLC purchased a new position in Donegal Group during the 2nd quarter worth $448,000. Finally, Los Angeles Capital Management LLC raised its position in Donegal Group by 95.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock worth $520,000 after buying an additional 19,707 shares during the last quarter. 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.