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

Donegal Group Inc. (NASDAQ:DGICA) announced a quarterly dividend on Thursday, October 17th, Zacks reports. Investors of record on Friday, November 1st will be given 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 payment by an average of 4.3% annually over the last three years and has increased its dividend annually for the last 20 consecutive 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 %

DGICA stock opened at $14.88 on Friday. The company has a fifty day moving average price of $14.82 and a 200 day moving average price of $13.90. Donegal Group has a 12 month low of $12.26 and a 12 month high of $15.45. The company has a market cap of $496.89 million, a price-to-earnings ratio of 93.00 and a beta of -0.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last released its quarterly 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. Donegal Group had a net margin of 0.76% and a return on equity of 0.89%. The firm had revenue of $246.77 million during the quarter, compared to the consensus estimate of $243.00 million. Sell-side analysts expect that Donegal Group will post 0.45 earnings per share for the current year.

Insider Buying and Selling at Donegal Group

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

Wall Street Analyst Weigh In

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

Donegal Group Company 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.