First Eagle Investment Management LLC Buys 11,497 Shares of Donegal Group, Inc. (DGICA)

First Eagle Investment Management LLC lifted its stake in Donegal Group, Inc. (NASDAQ:DGICA) by 22.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,200 shares of the insurance provider’s stock after purchasing an additional 11,497 shares during the quarter. First Eagle Investment Management LLC owned about 0.23% of Donegal Group worth $1,003,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. OLD Republic International Corp increased its holdings in shares of 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 last quarter. The Manufacturers Life Insurance Company increased its stake in Donegal Group by 78.7% during the second quarter. The Manufacturers Life Insurance Company now owns 11,817 shares of the insurance provider’s stock worth $189,000 after acquiring an additional 5,203 shares during the last quarter. State Street Corp increased its stake in Donegal Group by 0.7% during the second quarter. State Street Corp now owns 203,048 shares of the insurance provider’s stock worth $3,230,000 after acquiring an additional 1,473 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Donegal Group by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,637,594 shares of the insurance provider’s stock worth $26,038,000 after acquiring an additional 33,628 shares during the last quarter. Finally, Hancock Holding Co. increased its stake in Donegal Group by 4.4% during the second quarter. Hancock Holding Co. now owns 11,470 shares of the insurance provider’s stock worth $182,000 after acquiring an additional 480 shares during the last quarter. 29.73% of the stock is owned by hedge funds and other institutional investors.

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Shares of Donegal Group, Inc. (DGICA) opened at $17.12 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $469.33, a price-to-earnings ratio of 37.20 and a beta of 0.28. Donegal Group, Inc. has a one year low of $14.49 and a one year high of $18.55.

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

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were paid a $0.14 dividend. The ex-dividend date was Tuesday, October 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.27%. Donegal Group’s payout ratio is presently 98.25%.

Several equities research analysts have issued reports on DGICA shares. BidaskClub cut Donegal Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Boenning Scattergood reissued a “hold” rating on shares of Donegal Group in a research note on Thursday, July 20th. Zacks Investment Research cut Donegal Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 25th. TheStreet raised Donegal Group from a “c+” rating to a “b-” rating in a research note on Friday, October 20th. Finally, 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 note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $19.67.

In related news, Director Jack Lee Hess bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was purchased 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 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 through this hyperlink. Also, Director Patricia A. Gilmartin sold 5,333 shares of Donegal Group stock in a transaction on Monday, November 6th. The shares were sold at an average price of $17.17, for a total value of $91,567.61. Following the completion of the transaction, the director now owns 13,562 shares of the company’s stock, valued at $232,859.54. The disclosure for this sale can be found here. Insiders own 11.90% of the company’s stock.

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.

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

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