Donegal Group, Inc. (DGICA) Stake Lifted by TCW Group Inc.

TCW Group Inc. lifted its stake in shares of Donegal Group, Inc. (NASDAQ:DGICA) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 172,600 shares of the insurance provider’s stock after acquiring an additional 3,703 shares during the quarter. TCW Group Inc. owned approximately 0.63% of Donegal Group worth $2,784,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Donegal Group by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,637,594 shares of the insurance provider’s stock worth $26,038,000 after buying an additional 33,628 shares in the last quarter. Kennedy Capital Management Inc. raised its position in Donegal Group by 31.6% in the second quarter. Kennedy Capital Management Inc. now owns 579,157 shares of the insurance provider’s stock valued at $9,209,000 after purchasing an additional 139,027 shares during the period. OLD Republic International Corp raised its position in Donegal Group by 103.9% in the third quarter. OLD Republic International Corp now owns 477,100 shares of the insurance provider’s stock valued at $7,696,000 after purchasing an additional 243,100 shares during the period. Vanguard Group Inc. raised its position in Donegal Group by 4.2% in the first quarter. Vanguard Group Inc. now owns 412,320 shares of the insurance provider’s stock valued at $7,265,000 after purchasing an additional 16,736 shares during the period. Finally, Wells Fargo & Company MN raised its position in Donegal Group by 5.9% in the second quarter. Wells Fargo & Company MN now owns 403,419 shares of the insurance provider’s stock valued at $6,414,000 after purchasing an additional 22,511 shares during the period. 29.73% of the stock is currently owned by institutional investors.

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A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods raised Donegal Group from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Donegal Group from a “sell” rating to a “hold” rating and set a $20.00 target price on the stock in a report on Wednesday, November 1st. Boenning Scattergood upgraded Donegal Group from a “neutral” rating to an “outperform” rating and set a $19.00 price objective on the stock in a report on Tuesday, October 31st. TheStreet raised Donegal Group from a “c+” rating to a “b-” rating in a research report on Friday, October 20th. Finally, BidaskClub raised Donegal Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.67.

Shares of Donegal Group, Inc. (NASDAQ DGICA) traded up $0.27 during trading hours on Friday, reaching $17.39. The company had a trading volume of 61,300 shares, compared to its average volume of 29,267. Donegal Group, Inc. has a 1 year low of $14.49 and a 1 year high of $18.55. The company has a market capitalization of $469.60, a PE ratio of 37.22 and a beta of 0.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.42 and a current ratio of 0.42.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. Donegal Group had a net margin of 2.13% and a return on equity of 2.81%. The firm had revenue of $185.72 million for the quarter, compared to analysts’ expectations of $187.60 million. equities analysts predict that Donegal Group, Inc. will post 0.65 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Tuesday, October 31st. Donegal Group’s dividend payout ratio is currently 98.25%.

In related news, Director Jack Lee Hess acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $33,560.00. Following the completion of the acquisition, the director now directly owns 4,489 shares in the company, valued at approximately $75,325.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia A. Gilmartin sold 5,333 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $17.17, for a total transaction of $91,567.61. Following the sale, the director now owns 13,562 shares in the company, valued at $232,859.54. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by corporate insiders.

Donegal Group Company Profile

Donegal Group Inc (DGI) is an insurance holding company whose insurance subsidiaries offer personal and commercial lines of property and casualty insurance. The Company offered its insurance business to various businesses and individuals in 21 Mid-Atlantic, Midwestern, New England and Southern states, as of December 31, 2016.

Institutional Ownership by Quarter for Donegal Group (NASDAQ:DGICA)

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