Los Angeles Capital Management LLC Sells 6,200 Shares of Donegal Group Inc. (NASDAQ:DGICA)

Los Angeles Capital Management LLC cut its position in shares of Donegal Group Inc. (NASDAQ:DGICA) by 17.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,907 shares of the insurance provider’s stock after selling 6,200 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.09% of Donegal Group worth $463,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in Donegal Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock worth $5,371,000 after purchasing an additional 4,933 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Donegal Group by 39.2% in 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 acquiring an additional 17,125 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Donegal Group by 82.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock worth $1,551,000 after acquiring an additional 47,447 shares during the last quarter. SG Americas Securities LLC purchased a new position in Donegal Group in the 4th quarter worth approximately $128,000. Finally, Bleakley Financial Group LLC bought a new stake in Donegal Group in the fourth quarter valued at approximately $244,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

Donegal Group Stock Up 3.9 %

Shares of Donegal Group stock opened at $18.17 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $18.19. The company’s 50 day moving average price is $15.22 and its 200-day moving average price is $15.31. The stock has a market capitalization of $615.89 million, a price-to-earnings ratio of 11.95 and a beta of -0.02.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.39. The business had revenue of $249.70 million for the quarter, compared to analyst estimates of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. Equities research analysts forecast that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were given a dividend of $0.1725 per share. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.69 dividend on an annualized basis and a yield of 3.80%. Donegal Group’s dividend payout ratio is presently 45.39%.

Insiders Place Their Bets

In related news, major shareholder Mutual Insurance Co Donegal acquired 270,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was acquired at an average cost of $16.66 per share, for a total transaction of $4,498,200.00. Following the acquisition, the insider now owns 13,046,126 shares of the company’s stock, valued at $217,348,459.16. This trade represents a 2.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeffrey Dean Miller sold 85,000 shares of Donegal Group stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $16.67, for a total transaction of $1,416,950.00. Following the sale, the chief financial officer now directly owns 22,613 shares in the company, valued at $376,958.71. The trade was a 78.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 392,768 shares of company stock worth $6,537,289 and sold 243,888 shares worth $4,048,422. Company insiders own 6.63% of the company’s stock.

Donegal Group 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.