Donegal Group Inc. (NASDAQ:DGICA) Short Interest Down 14.6% in January

Donegal Group Inc. (NASDAQ:DGICA) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 191,900 shares, a decrease of 14.6% from the December 31st total of 224,800 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily volume of 92,500 shares, the days-to-cover ratio is presently 2.1 days.

Donegal Group Stock Down 0.6 %

Shares of DGICA stock opened at $14.60 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. Donegal Group has a one year low of $12.26 and a one year high of $17.00. The company’s fifty day moving average price is $15.52 and its 200-day moving average price is $15.08. The company has a market capitalization of $494.94 million, a price-to-earnings ratio of 19.21 and a beta of -0.01.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th will be issued a dividend of $0.1725 per share. The ex-dividend date is Tuesday, February 4th. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a yield of 4.73%. Donegal Group’s dividend payout ratio (DPR) is currently 90.79%.

Insider Activity

In other news, EVP William Daniel Delamater sold 9,616 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $16.77, for a total transaction of $161,260.32. Following the completion of the sale, the executive vice president now owns 1,379 shares of the company’s stock, valued at $23,125.83. The trade was a 87.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Mutual Insurance Co Donegal bought 4,137 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of $15.20 per share, for a total transaction of $62,882.40. Following the completion of the acquisition, the insider now owns 12,514,232 shares in the company, valued at $190,216,326.40. This trade represents a 0.03 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 466,377 shares of company stock valued at $7,696,509 and sold 323,564 shares valued at $5,344,273. Insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Donegal Group

Several large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Donegal Group by 39.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock valued at $896,000 after purchasing an additional 17,125 shares during the period. Geode Capital Management LLC grew its holdings in Donegal Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock valued at $5,371,000 after buying an additional 4,933 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Donegal Group by 82.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock valued at $1,551,000 after buying an additional 47,447 shares during the last quarter. Barclays PLC lifted its holdings in shares of Donegal Group by 38.7% in the third quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock worth $957,000 after buying an additional 18,132 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Donegal Group during the second quarter valued at $448,000. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.