Donegal Group (NASDAQ:DGICA) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Donegal Group Inc. (NASDAQ:DGICA) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.14 and traded as high as $15.23. Donegal Group shares last traded at $15.20, with a volume of 40,375 shares changing hands.

Analyst Upgrades and Downgrades

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

Donegal Group Trading Up 1.0 %

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 stock has a market capitalization of $515.28 million, a price-to-earnings ratio of 20.00 and a beta of -0.02. The business has a 50 day simple moving average of $15.29 and a 200-day simple moving average of $15.14.

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th will be given a $0.1725 dividend. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Tuesday, February 4th. Donegal Group’s dividend payout ratio (DPR) is 90.79%.

Insiders Place Their Bets

In related news, Director Barry C. Huber sold 2,500 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $16.60, for a total transaction of $41,500.00. Following the completion of the sale, the director now directly owns 14,867 shares of the company’s stock, valued at approximately $246,792.20. This represents a 14.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Mutual Insurance Co Donegal acquired 37,748 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was bought at an average cost of $15.81 per share, for a total transaction of $596,795.88. Following the completion of the transaction, the insider now directly owns 12,679,138 shares of the company’s stock, valued at $200,457,171.78. This trade represents a 0.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 437,470 shares of company stock worth $7,240,492 and sold 319,064 shares worth $5,273,623. 6.63% of the stock is currently owned by insiders.

Institutional Trading of Donegal Group

Several large investors have recently modified their holdings of DGICA. KLP Kapitalforvaltning AS acquired a new stake in Donegal Group in the fourth quarter valued at $68,000. SG Americas Securities LLC bought a new stake in shares of Donegal Group in the 4th quarter worth about $128,000. Private Advisor Group LLC acquired a new stake in shares of Donegal Group in the 4th quarter valued at about $177,000. Inceptionr LLC bought a new position in shares of Donegal Group during the fourth quarter worth about $218,000. Finally, Bleakley Financial Group LLC bought a new position in shares of Donegal Group during the fourth quarter worth about $244,000. 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.