Donegal Group (NASDAQ:DGICA) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Donegal Group, Inc. (NASDAQ:DGICA)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.03 and traded as high as $19.48. Donegal Group shares last traded at $18.57, with a volume of 130,808 shares traded.

Wall Street Analyst Weigh In

DGICA has been the topic of several research analyst reports. Zacks Research cut Donegal Group from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Keefe, Bruyette & Woods increased their target price on Donegal Group from $20.00 to $21.00 and gave the company a “market perform” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Donegal Group Trading Down 2.5%

The stock’s 50-day simple moving average is $19.92 and its two-hundred day simple moving average is $19.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market capitalization of $680.40 million, a P/E ratio of 7.67 and a beta of 0.05.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.15. Donegal Group had a net margin of 8.72% and a return on equity of 14.28%. The company had revenue of $245.92 million during the quarter, compared to the consensus estimate of $244.19 million. Equities research analysts expect that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd will be given a dividend of $0.1825 per share. The ex-dividend date is Tuesday, February 3rd. This represents a $0.73 annualized dividend and a dividend yield of 3.9%. Donegal Group’s dividend payout ratio (DPR) is currently 30.17%.

Insider Activity at Donegal Group

In related news, major shareholder Mutual Insurance Co Donegal acquired 22,819 shares of Donegal Group stock in a transaction dated Wednesday, December 10th. The shares were purchased at an average price of $20.05 per share, for a total transaction of $457,520.95. Following the completion of the transaction, the insider directly owned 13,913,704 shares in the company, valued at approximately $278,969,765.20. This represents a 0.16% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Michael Sr Kraft, Sr. sold 4,500 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $20.02, for a total transaction of $90,090.00. Following the completion of the transaction, the director directly owned 13,436 shares in the company, valued at $268,988.72. This trade represents a 25.09% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have acquired 263,529 shares of company stock valued at $5,099,413 and have sold 27,074 shares valued at $539,064. 6.63% of the stock is owned by corporate insiders.

Institutional Trading of Donegal Group

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

About Donegal Group

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.