Donegal Group Inc. (DGICA) to Issue Quarterly Dividend of $0.17 on November 15th

Donegal Group Inc. (NASDAQ:DGICA) announced a quarterly dividend on Thursday, October 17th, Zacks reports. Stockholders of record on Friday, November 1st will be given a dividend of 0.172 per share by the insurance provider on Friday, November 15th. This represents a $0.69 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, November 1st.

Donegal Group has raised its dividend by an average of 4.3% per year over the last three years and has increased its dividend annually for the last 20 consecutive years. Donegal Group has a dividend payout ratio of 61.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Donegal Group to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.69 annual dividend with an expected future payout ratio of 72.6%.

Donegal Group Stock Down 1.1 %

Shares of NASDAQ:DGICA opened at $14.88 on Friday. The stock has a market cap of $496.89 million, a price-to-earnings ratio of 93.00 and a beta of -0.06. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.07. Donegal Group has a 12-month low of $12.26 and a 12-month high of $15.45. The business’s 50 day moving average is $14.82 and its 200 day moving average is $13.90.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, July 25th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.04. The company had revenue of $246.77 million for the quarter, compared to analysts’ expectations of $243.00 million. Donegal Group had a return on equity of 0.89% and a net margin of 0.76%. On average, sell-side analysts forecast that Donegal Group will post 0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Vincent Anthony Viozzi sold 30,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $15.24, for a total transaction of $457,200.00. Following the transaction, the vice president now owns 9,891 shares of the company’s stock, valued at $150,738.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Vincent Anthony Viozzi sold 30,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $15.24, for a total transaction of $457,200.00. Following the transaction, the vice president now owns 9,891 shares of the company’s stock, valued at $150,738.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Mutual Insurance Co Donegal purchased 8,951 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $13.50 per share, for a total transaction of $120,838.50. Following the transaction, the insider now directly owns 12,123,065 shares in the company, valued at approximately $163,661,377.50. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 139,437 shares of company stock valued at $2,062,143. Insiders own 6.63% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Donegal Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd.

About Donegal Group

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.