David Wayne Sponic Sells 5,537 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) SVP David Wayne Sponic sold 5,537 shares of Donegal Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $18.17, for a total value of $100,607.29. Following the completion of the transaction, the senior vice president now owns 2,006 shares of the company’s stock, valued at approximately $36,449.02. The trade was a 73.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

David Wayne Sponic also recently made the following trade(s):

• On Thursday, March 6th, David Wayne Sponic sold 6,000 shares of Donegal Group stock. The shares were sold at an average price of $17.99, for a total value of $107,940.00.

Donegal Group Stock Performance

Shares of DGICA stock opened at $18.20 on Monday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $15.67 and a two-hundred day moving average of $15.51. The company has a market cap of $616.91 million, a P/E ratio of 11.97 and a beta of -0.04. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $18.26.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.39. The business had revenue of $249.70 million during the quarter, compared to the consensus estimate of $250.61 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. As a group, analysts anticipate that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were given a dividend of $0.1725 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a dividend yield of 3.79%. Donegal Group’s payout ratio is currently 45.39%.

Hedge Funds Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its position in Donegal Group by 82.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock worth $1,551,000 after purchasing an additional 47,447 shares during the period. Foundry Partners LLC lifted its position in Donegal Group by 1.0% in the third quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock worth $3,605,000 after purchasing an additional 2,310 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Donegal Group by 39.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock valued at $896,000 after buying an additional 17,125 shares in the last quarter. Martingale Asset Management L P increased its holdings in shares of Donegal Group by 4.2% in the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after buying an additional 902 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Donegal Group by 38.7% in the third quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock valued at $957,000 after buying an additional 18,132 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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.