Donegal Group Inc. (DGICA) To Go Ex-Dividend on November 1st

Donegal Group Inc. (NASDAQ:DGICA) declared a quarterly dividend on Thursday, October 17th, Zacks reports. Stockholders of record on Friday, November 1st will be paid 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 4.40%. The ex-dividend date is Friday, November 1st.

Donegal Group has increased its dividend payment by an average of 4.3% per year over the last three years and has raised its dividend every year for the last 20 years. Donegal Group has a payout ratio of 60.0% 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 Performance

Shares of DGICA opened at $15.65 on Wednesday. The company has a current ratio of 0.39, a quick 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 $15.84. The firm has a fifty day simple moving average of $14.90 and a 200 day simple moving average of $13.98. The stock has a market capitalization of $524.02 million, a price-to-earnings ratio of 97.81 and a beta of -0.06.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Donegal Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 25th.

Insider Buying and Selling

In other news, major shareholder Mutual Insurance Co Donegal bought 8,951 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $13.50 per share, with a total value of $120,838.50. Following the acquisition, the insider now owns 12,123,065 shares in the company, valued at $163,661,377.50. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Donegal Group news, major shareholder Mutual Insurance Co Donegal bought 8,951 shares of Donegal Group stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $13.50 per share, for a total transaction of $120,838.50. Following the purchase, the insider now owns 12,123,065 shares of the company’s stock, valued at $163,661,377.50. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Vincent Anthony Viozzi sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $15.24, for a total value of $457,200.00. Following the transaction, the vice president now directly owns 9,891 shares in the company, valued at $150,738.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 130,413 shares of company stock worth $1,927,144. Insiders own 6.63% of the company’s stock.

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.