Donegal Group Inc. (DGICA) Director Jack Lee Hess Purchases 3,000 Shares

Donegal Group Inc. (NASDAQ:DGICA) Director Jack Lee Hess bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 8th. The shares were acquired at an average cost of $13.71 per share, for a total transaction of $41,130.00. Following the purchase, the director now directly owns 11,963 shares in the company, valued at approximately $164,012.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of DGICA stock traded down $0.04 on Thursday, reaching $13.69. 100 shares of the company’s stock were exchanged, compared to its average volume of 22,170. Donegal Group Inc. has a 52 week low of $13.02 and a 52 week high of $18.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $383.91 million, a P/E ratio of 46.00 and a beta of 0.39.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Tuesday, October 30th. The insurance provider reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.14). The business had revenue of $196.44 million for the quarter, compared to the consensus estimate of $195.80 million. Donegal Group had a negative return on equity of 4.16% and a negative net margin of 2.65%. As a group, sell-side analysts forecast that Donegal Group Inc. will post -0.4 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be given a dividend of $0.1425 per share. This represents a $0.57 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Wednesday, October 31st. Donegal Group’s dividend payout ratio (DPR) is presently 190.00%.

Several analysts recently issued reports on the company. BidaskClub downgraded Donegal Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 3rd. ValuEngine upgraded Donegal Group from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Boenning Scattergood reiterated a “hold” rating on shares of Donegal Group in a report on Wednesday, October 31st. Finally, Zacks Investment Research cut Donegal Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $18.00.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Deprince Race & Zollo Inc. raised its position in Donegal Group by 1.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 290,172 shares of the insurance provider’s stock valued at $3,949,000 after purchasing an additional 4,112 shares in the last quarter. Ramsey Quantitative Systems raised its position in Donegal Group by 115.0% during the 3rd quarter. Ramsey Quantitative Systems now owns 7,720 shares of the insurance provider’s stock valued at $110,000 after purchasing an additional 4,129 shares in the last quarter. Citadel Advisors LLC bought a new stake in Donegal Group during the 2nd quarter valued at $213,000. TCW Group Inc. raised its position in Donegal Group by 9.6% during the 2nd quarter. TCW Group Inc. now owns 180,998 shares of the insurance provider’s stock valued at $2,463,000 after purchasing an additional 15,881 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Donegal Group by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 500,368 shares of the insurance provider’s stock worth $6,810,000 after acquiring an additional 25,868 shares in the last quarter. 31.25% of the stock is owned by institutional investors and hedge funds.

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About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, Commercial Lines of Insurance, and Investment in DFSC.

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