Donegal Group, Inc. $DGICA Shares Acquired by Los Angeles Capital Management LLC

by · The Markets Daily

Los Angeles Capital Management LLC increased its holdings in Donegal Group, Inc. (NASDAQ:DGICA – Free Report) by 145.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,726 shares of the insurance provider’s stock after buying an additional 40,078 shares during the quarter. Los Angeles Capital Management LLC owned about 0.18% of Donegal Group worth $1,245,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in Donegal Group by 139.8% during the 1st quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock worth $774,000 after acquiring an additional 22,978 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Donegal Group by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock valued at $2,155,000 after purchasing an additional 8,004 shares during the period. Empowered Funds LLC increased its holdings in shares of Donegal Group by 1.9% during the first quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock valued at $1,802,000 after purchasing an additional 1,696 shares during the period. Jane Street Group LLC bought a new stake in shares of Donegal Group during the first quarter valued at about $689,000. Finally, Rhumbline Advisers raised its stake in shares of Donegal Group by 22.3% during the second quarter. Rhumbline Advisers now owns 32,824 shares of the insurance provider’s stock valued at $657,000 after purchasing an additional 5,981 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Donegal Group Stock Up 2.2%

DGICA opened at $17.48 on Thursday. Donegal Group, Inc. has a one year low of $16.11 and a one year high of $21.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The stock’s fifty day moving average is $17.24 and its 200-day moving average is $18.28. The company has a market capitalization of $647.63 million, a PE ratio of 9.77 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA – Get Free Report) last announced its earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.08). The firm had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. On average, equities analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.1925 per share. This is a positive change from Donegal Group’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 1st. This represents a $0.77 annualized dividend and a dividend yield of 4.4%. Donegal Group’s payout ratio is 43.02%.

Analysts Set New Price Targets

DGICA has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods dropped their price target on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.00.

Check Out Our Latest Stock Analysis on DGICA

Insider Activity

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average cost of $16.62 per share, for a total transaction of $166,200.00. Following the acquisition, the insider directly owned 14,117,109 shares of the company’s stock, valued at $234,626,351.58. This trade represents a 0.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have purchased 119,905 shares of company stock valued at $2,048,047. Insiders own 2.75% of the company’s stock.

Donegal Group Company Profile

(Free Report)

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.

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