Donegal Group (NASDAQ:DGICA) Shares Gap Down – Time to Sell?

Donegal Group Inc. (NASDAQ:DGICA)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $15.89, but opened at $15.00. Donegal Group shares last traded at $15.15, with a volume of 66,736 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded 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 debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a 50-day moving average of $15.01 and a 200-day moving average of $14.12. The stock has a market cap of $523.02 million, a PE ratio of 19.93 and a beta of -0.06.

Donegal Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a dividend of $0.172 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Friday, November 1st. Donegal Group’s payout ratio is presently 90.79%.

Insider Activity at Donegal Group

In other news, major shareholder Mutual Insurance Co Donegal purchased 9,800 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average cost of $14.78 per share, with a total value of $144,844.00. Following the completion of the purchase, the insider now owns 12,185,745 shares in the company, valued at approximately $180,105,311.10. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder Mutual Insurance Co Donegal purchased 9,800 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average cost of $14.78 per share, with a total value of $144,844.00. Following the completion of the purchase, the insider now owns 12,185,745 shares in the company, valued at approximately $180,105,311.10. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Barry C. Huber sold 4,500 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $15.70, for a total value of $70,650.00. Following the transaction, the director now directly owns 14,867 shares of the company’s stock, valued at approximately $233,411.90. 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 bought 276,264 shares of company stock valued at $4,241,923 and sold 90,500 shares valued at $1,395,850. 6.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Donegal Group

Several institutional investors have recently modified their holdings of the stock. Martingale Asset Management L P lifted its stake in shares of Donegal Group by 4.2% in the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after purchasing an additional 902 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Donegal Group in the 2nd quarter valued at approximately $27,000. Hsbc Holdings PLC lifted its stake in shares of Donegal Group by 7.8% in the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock valued at $389,000 after purchasing an additional 2,250 shares during the last quarter. Foundry Partners LLC raised its holdings in shares of 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 buying an additional 2,310 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Donegal Group by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock worth $1,669,000 after buying an additional 5,416 shares during the period. 27.96% of the stock is owned by institutional investors.

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.