Dimensional Fund Advisors LP Acquires 21,983 Shares of Donegal Group Inc. (DGICA)

Dimensional Fund Advisors LP lifted its holdings in shares of Donegal Group Inc. (NASDAQ:DGICA) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,659,577 shares of the insurance provider’s stock after purchasing an additional 21,983 shares during the period. Dimensional Fund Advisors LP owned about 6.05% of Donegal Group worth $26,769,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. OLD Republic International Corp boosted its position in Donegal Group by 103.9% during the 3rd quarter. OLD Republic International Corp now owns 477,100 shares of the insurance provider’s stock valued at $7,696,000 after buying an additional 243,100 shares during the period. Wells Fargo & Company MN boosted its position in Donegal Group by 5.9% during the 2nd quarter. Wells Fargo & Company MN now owns 403,419 shares of the insurance provider’s stock valued at $6,414,000 after buying an additional 22,511 shares during the period. Northern Trust Corp boosted its position in Donegal Group by 14.1% during the 2nd quarter. Northern Trust Corp now owns 135,447 shares of the insurance provider’s stock valued at $2,154,000 after buying an additional 16,696 shares during the period. First Eagle Investment Management LLC boosted its position in Donegal Group by 22.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 62,200 shares of the insurance provider’s stock valued at $1,003,000 after buying an additional 11,497 shares during the period. Finally, Swiss National Bank boosted its position in Donegal Group by 34.0% during the 2nd quarter. Swiss National Bank now owns 20,900 shares of the insurance provider’s stock valued at $332,000 after buying an additional 5,300 shares during the period. 29.27% of the stock is currently owned by institutional investors.

In other Donegal Group news, Director Jack Lee Hess purchased 2,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was bought at an average cost of $16.78 per share, with a total value of $33,560.00. Following the transaction, the director now directly owns 4,489 shares in the company, valued at approximately $75,325.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patricia A. Gilmartin sold 5,333 shares of Donegal Group stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $17.17, for a total transaction of $91,567.61. Following the transaction, the director now directly owns 13,562 shares of the company’s stock, valued at $232,859.54. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 4,000 shares of company stock valued at $68,040. Corporate insiders own 11.90% of the company’s stock.

DGICA has been the subject of several analyst reports. Zacks Investment Research cut shares of Donegal Group from a “hold” rating to a “strong sell” rating in a research report on Friday, October 13th. TheStreet raised shares of Donegal Group from a “c+” rating to a “b-” rating in a research report on Friday, October 20th. Boenning Scattergood raised shares of Donegal Group from a “neutral” rating to an “outperform” rating and set a $19.00 price target for the company in a research report on Tuesday, October 31st. Keefe, Bruyette & Woods raised shares of Donegal Group from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Wednesday, November 1st. Finally, BidaskClub cut shares of Donegal Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Donegal Group has an average rating of “Buy” and a consensus target price of $19.67.

Shares of Donegal Group Inc. (NASDAQ DGICA) opened at $17.60 on Friday. The firm has a market cap of $489.35, a price-to-earnings ratio of 30.88 and a beta of 0.30. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.16. Donegal Group Inc. has a 12-month low of $14.51 and a 12-month high of $18.25.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Monday, October 30th. The insurance provider reported $0.25 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $187.60 million. equities research analysts expect that Donegal Group Inc. will post 0.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.56 annualized dividend and a dividend yield of 3.18%. Donegal Group’s dividend payout ratio is 98.25%.

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Donegal Group 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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