Donegal Group, Inc. to Issue Quarterly Dividend of $0.18 (NASDAQ:DGICA)

by · The Markets Daily

Donegal Group, Inc. (NASDAQ:DGICA – Get Free Report) declared a quarterly dividend on Thursday, December 18th. Investors of record on Tuesday, February 3rd will be given a dividend of 0.1825 per share by the insurance provider on Tuesday, February 17th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, February 3rd.

Donegal Group has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Donegal Group has a dividend payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Donegal Group to earn $1.40 per share next year, which means the company should continue to be able to cover its $0.73 annual dividend with an expected future payout ratio of 52.1%.

Donegal Group Stock Up 1.0%

Shares of Donegal Group stock traded up $0.21 during trading hours on Friday, reaching $20.92. 9,773 shares of the company were exchanged, compared to its average volume of 129,498. Donegal Group has a 1 year low of $14.17 and a 1 year high of $21.12. The firm has a market cap of $766.44 million, a PE ratio of 8.64 and a beta of 0.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39. The stock’s fifty day moving average is $19.61 and its 200 day moving average is $18.96.

Donegal Group (NASDAQ:DGICA – Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.15. Donegal Group had a return on equity of 14.28% and a net margin of 8.72%.The business had revenue of $245.92 million during the quarter, compared to analysts’ expectations of $244.19 million. As a group, equities research analysts forecast that Donegal Group will post 1.2 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Mutual Insurance Co Donegal bought 51,404 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were bought at an average cost of $17.86 per share, for a total transaction of $918,075.44. Following the transaction, the insider owned 13,784,361 shares of the company’s stock, valued at approximately $246,188,687.46. This trade represents a 0.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kristi Spencer Altshuler sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $20.25, for a total value of $243,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 263,529 shares of company stock worth $5,099,413 and sold 27,074 shares worth $539,064. Insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On Donegal Group

Several hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue acquired a new stake in shares of Donegal Group during the third quarter valued at about $26,000. Versant Capital Management Inc increased its holdings in Donegal Group by 79.1% during the 3rd quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock worth $58,000 after purchasing an additional 1,329 shares during the last quarter. Allworth Financial LP raised its position in shares of Donegal Group by 477.2% in the 2nd quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 2,448 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after buying an additional 2,975 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Donegal Group by 443.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after buying an additional 4,022 shares in the last quarter. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

Donegal Group Company Profile

(Get Free Report)

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.

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