Donegal Group (NASDAQ:DGICA) Sees Strong Trading Volume – Should You Buy?

Donegal Group Inc. (NASDAQ:DGICA) shares saw strong trading volume on Monday . 101,967 shares traded hands during mid-day trading, an increase of 75% from the previous session’s volume of 58,288 shares.The stock last traded at $15.98 and had previously closed at $15.98.

Wall Street Analysts Forecast Growth

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

Donegal Group Price Performance

The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $15.11 and a two-hundred day moving average of $14.24. The firm has a market cap of $552.23 million, a P/E ratio of 21.03 and a beta of -0.06.

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.172 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.22%. Donegal Group’s dividend payout ratio is currently 90.79%.

Insiders Place Their Bets

In related news, VP Vincent Anthony Viozzi sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $15.24, for a total value of $457,200.00. Following the completion of the transaction, the vice president now directly owns 9,891 shares of the company’s stock, valued at approximately $150,738.84. This trade represents a 75.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO David Benjamin Bawel sold 9,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $15.50, for a total transaction of $139,500.00. Following the completion of the sale, the chief accounting officer now owns 19,665 shares in the company, valued at $304,807.50. This represents a 31.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 265,716 shares of company stock worth $4,121,975 and have sold 120,500 shares worth $1,870,450. Corporate insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DGICA. Innealta Capital LLC bought a new position in Donegal Group in the second quarter worth $27,000. Martingale Asset Management L P raised its holdings in 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 worth $329,000 after buying an additional 902 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Donegal Group by 7.8% in the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after buying an additional 2,250 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Donegal Group during the second quarter valued at approximately $448,000. Finally, Los Angeles Capital Management LLC raised its holdings in Donegal Group by 95.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock worth $520,000 after acquiring an additional 19,707 shares during the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Donegal Group Company Profile

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.