Foundry Partners LLC Cuts Position in Donegal Group Inc. (NASDAQ:DGICA)

Foundry Partners LLC reduced its stake in shares of Donegal Group Inc. (NASDAQ:DGICA) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 246,510 shares of the insurance provider’s stock after selling 4,440 shares during the period. Foundry Partners LLC’s holdings in Donegal Group were worth $3,449,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in DGICA. CWM LLC increased its position in shares of Donegal Group by 170.9% during the fourth quarter. CWM LLC now owns 1,796 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 1,133 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Donegal Group by 29.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,325 shares of the insurance provider’s stock worth $47,000 after buying an additional 757 shares during the last quarter. SG Americas Securities LLC acquired a new position in Donegal Group during the 4th quarter valued at about $124,000. Lewis Asset Management LLC purchased a new stake in Donegal Group in the fourth quarter valued at about $194,000. Finally, Swiss National Bank boosted its holdings in Donegal Group by 3.7% in the third quarter. Swiss National Bank now owns 36,100 shares of the insurance provider’s stock worth $515,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Donegal Group from a “buy” rating to a “hold” rating in a report on Friday, February 23rd.

Donegal Group Price Performance

Shares of DGICA opened at $13.83 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.40 and a quick ratio of 0.40. The company’s fifty day moving average price is $13.91 and its 200-day moving average price is $14.16. Donegal Group Inc. has a 1-year low of $13.10 and a 1-year high of $15.76. The firm has a market capitalization of $461.78 million, a PE ratio of 98.79 and a beta of -0.07.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, February 22nd. The insurance provider reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.34). The firm had revenue of $239.47 million for the quarter, compared to analyst estimates of $234.10 million. Donegal Group had a return on equity of 0.40% and a net margin of 0.48%. During the same period in the prior year, the firm posted $0.09 EPS. On average, equities research analysts predict that Donegal Group Inc. will post 0.55 EPS for the current year.

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a $0.172 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.69 dividend on an annualized basis and a yield of 4.97%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is currently 485.71%.

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.