Renaissance Technologies LLC Sells 5,300 Shares of Donegal Group Inc. (NASDAQ:DGICA)

Renaissance Technologies LLC decreased its position in shares of Donegal Group Inc. (NASDAQ:DGICA) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 340,911 shares of the insurance provider’s stock after selling 5,300 shares during the quarter. Renaissance Technologies LLC owned about 1.02% of Donegal Group worth $4,391,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Donegal Group in the 2nd quarter valued at about $27,000. EntryPoint Capital LLC bought a new stake in shares of Donegal Group during the first quarter valued at approximately $137,000. BNP Paribas Financial Markets raised its position in shares of Donegal Group by 125.0% during the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after purchasing an additional 5,757 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Donegal Group in the 1st quarter worth $293,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Donegal Group by 30.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock worth $1,072,000 after buying an additional 17,614 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.

Donegal Group Price Performance

DGICA opened at $14.68 on Friday. Donegal Group Inc. has a 12-month low of $12.26 and a 12-month high of $15.45. The company has a market cap of $490.21 million, a price-to-earnings ratio of 91.75 and a beta of -0.05. The stock has a fifty day simple moving average of $14.71 and a two-hundred day simple moving average of $13.82. 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 (NASDAQ:DGICA) last issued its earnings results on Thursday, July 25th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $246.77 million during the quarter, compared to analysts’ expectations of $243.00 million. Donegal Group had a net margin of 0.76% and a return on equity of 0.89%. Research analysts predict that Donegal Group Inc. will post 0.45 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.172 dividend. This represents a $0.69 annualized dividend and a yield of 4.69%. The ex-dividend date was Thursday, August 1st. Donegal Group’s dividend payout ratio is 431.25%.

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 Thursday, September 19th.

Insider Activity

In other news, major shareholder Mutual Insurance Co Donegal purchased 3,848 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $14.13 per share, with a total value of $54,372.24. Following the completion of the purchase, the insider now owns 12,143,459 shares in the company, valued at $171,587,075.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Donegal Group news, VP Vincent Anthony Viozzi sold 30,000 shares of the stock in a transaction 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 sale, the vice president now owns 9,891 shares in the company, valued at $150,738.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Mutual Insurance Co Donegal bought 3,848 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $14.13 per share, with a total value of $54,372.24. Following the completion of the transaction, the insider now owns 12,143,459 shares of the company’s stock, valued at approximately $171,587,075.67. The disclosure for this purchase can be found here. Insiders have bought 139,437 shares of company stock worth $2,062,143 in the last three months. Company insiders own 6.63% 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.