Allspring Global Investments Holdings LLC Boosts Stock Position in Donegal Group Inc. (NASDAQ:DGICA)

Allspring Global Investments Holdings LLC increased its stake in Donegal Group Inc. (NASDAQ:DGICA – Get Rating) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 121,415 shares of the insurance provider’s stock after buying an additional 4,046 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Donegal Group were worth $1,637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DGICA. Great West Life Assurance Co. Can grew its stake in shares of Donegal Group by 58.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,924 shares of the insurance provider’s stock worth $27,000 after buying an additional 707 shares during the last quarter. FMR LLC grew its stake in shares of Donegal Group by 15,473.7% in the 2nd quarter. FMR LLC now owns 2,959 shares of the insurance provider’s stock worth $50,000 after buying an additional 2,940 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Donegal Group by 55.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,545 shares of the insurance provider’s stock valued at $77,000 after purchasing an additional 1,621 shares during the last quarter. Philo Smith Capital Corp purchased a new stake in Donegal Group during the 2nd quarter valued at $89,000. Finally, SG Americas Securities LLC purchased a new stake in Donegal Group during the 2nd quarter valued at $130,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Insider Activity

In other news, Director Jon Marshall Mahan sold 3,093 shares of the stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $14.75, for a total transaction of $45,621.75. Following the transaction, the director now directly owns 7,988 shares of the company’s stock, valued at approximately $117,823. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Vincent Anthony Viozzi sold 2,140 shares of the stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $15.53, for a total transaction of $33,234.20. Following the transaction, the vice president now directly owns 7,191 shares of the company’s stock, valued at approximately $111,676.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jon Marshall Mahan sold 3,093 shares of the stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $14.75, for a total value of $45,621.75. Following the transaction, the director now directly owns 7,988 shares in the company, valued at $117,823. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 125,302 shares of company stock valued at $1,906,641 and have sold 107,294 shares valued at $1,630,171. Insiders own 10.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on DGICA. TheStreet downgraded Donegal Group from a “b-” rating to a “c+” rating in a research note on Wednesday, December 14th. StockNews.com upgraded Donegal Group from a “hold” rating to a “buy” rating in a research note on Wednesday.

Donegal Group Stock Performance

Shares of DGICA opened at $15.22 on Friday. The business’s fifty day simple moving average is $14.69 and its two-hundred day simple moving average is $14.79. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a 12 month low of $13.05 and a 12 month high of $17.13. The company has a market cap of $494.16 million, a price-to-earnings ratio of 1,523.52 and a beta of 0.02.

Donegal Group (NASDAQ:DGICA – Get Rating) last issued its earnings results on Thursday, October 27th. The insurance provider reported ($0.27) EPS for the quarter. The business had revenue of $215.20 million for the quarter. Donegal Group had a negative net margin of 0.02% and a positive return on equity of 1.43%.

Donegal Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Wednesday, February 1st will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, January 31st. This represents a $0.66 annualized dividend and a dividend yield of 4.34%. Donegal Group’s payout ratio is 6,606.61%.

Donegal Group Profile

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Donegal Group Inc, an insurance holding company, provides personal and commercial lines of 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.