Donegal Group Inc. (NASDAQ:DGICA) Declares $0.17 Quarterly Dividend

by · The Markets Daily

Donegal Group Inc. (NASDAQ:DGICA – Get Free Report) declared a quarterly dividend on Thursday, October 17th, Zacks reports. Investors of record on Friday, November 1st will be paid a dividend of 0.172 per share by the insurance provider on Friday, November 15th. This represents a $0.69 annualized dividend and a yield of 4.62%. The ex-dividend date is Friday, November 1st.

Donegal Group has increased its dividend by an average of 4.3% annually over the last three years and has raised its dividend every year for the last 20 years. Donegal Group has a payout ratio of 61.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Donegal Group to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.69 annual dividend with an expected future payout ratio of 72.6%.

Donegal Group Stock Down 1.1 %

Shares of NASDAQ:DGICA opened at $14.88 on Friday. Donegal Group has a 52-week low of $12.26 and a 52-week high of $15.45. The company has a market capitalization of $496.89 million, a PE ratio of 93.00 and a beta of -0.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.39. The company has a fifty day moving average of $14.82 and a 200-day moving average of $13.90.

Donegal Group (NASDAQ:DGICA – Get Free Report) last posted its earnings results on Thursday, July 25th. The insurance provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. The firm had revenue of $246.77 million during the quarter, compared to the consensus estimate of $243.00 million. Donegal Group had a return on equity of 0.89% and a net margin of 0.76%. On average, equities analysts predict that Donegal Group will post 0.45 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Donegal Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd.

Get Our Latest Analysis on Donegal Group

Insider Buying and Selling

In related news, major shareholder Mutual Insurance Co Donegal acquired 8,951 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $13.50 per share, with a total value of $120,838.50. Following the completion of the purchase, the insider now directly owns 12,123,065 shares in the company, valued at $163,661,377.50. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other news, major shareholder Mutual Insurance Co Donegal bought 8,951 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $13.50 per share, for a total transaction of $120,838.50. Following the completion of the acquisition, the insider now directly owns 12,123,065 shares in the company, valued at approximately $163,661,377.50. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Vincent Anthony Viozzi sold 30,000 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $15.24, for a total value of $457,200.00. Following the sale, the vice president now owns 9,891 shares of the company’s stock, valued at approximately $150,738.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 139,437 shares of company stock valued at $2,062,143 in the last three months. Insiders own 6.63% of the company’s stock.

Donegal Group Company Profile

(Get Free Report)

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.

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