Bank of New York Mellon Corp increased its position in shares of Donegal Group Inc. (NASDAQ:DGICA) by 5.5% during the second quarter, Holdings Channel reports. The firm owned 59,726 shares of the company’s stock after buying an additional 3,106 shares during the period. Bank of New York Mellon Corp owned 0.23% of Donegal Group worth $985,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. State Street Corp raised its stake in shares of Donegal Group by 0.5% in the first quarter. State Street Corp now owns 149,591 shares of the company’s stock worth $2,150,000 after buying an additional 696 shares during the period. Menta Capital LLC raised its stake in Donegal Group by 0.9% in the first quarter. Menta Capital LLC now owns 43,585 shares of the company’s stock valued at $627,000 after buying an additional 400 shares during the period. BB&T Securities LLC acquired a new stake in Donegal Group during the first quarter valued at $453,000. Finally, Strs Ohio acquired a new stake in Donegal Group during the second quarter valued at $136,000. Institutional investors and hedge funds own 25.23% of the company’s stock.
Donegal Group Inc. (NASDAQ:DGICA) traded up 0.89% during midday trading on Friday, reaching $15.90. 8,439 shares of the company traded hands. The firm has a market capitalization of $422.88 million, a price-to-earnings ratio of 15.50 and a beta of 0.06. The firm’s 50 day moving average price is $16.20 and its 200 day moving average price is $15.83. Donegal Group Inc. has a 12 month low of $12.69 and a 12 month high of $16.85.
Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Donegal Group had a net margin of 5.14% and a return on equity of 7.64%. On average, analysts expect that Donegal Group Inc. will post $1.30 earnings per share for the current year.
In related news, Director Philip H. Glatfelter II sold 12,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $16.08, for a total value of $192,960.00. Following the transaction, the director now directly owns 25,011 shares in the company, valued at approximately $402,176.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barry C. Huber sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $16.01, for a total transaction of $48,030.00. Following the completion of the transaction, the director now owns 7,867 shares in the company, valued at $125,950.67. The disclosure for this sale can be found here. Insiders own 10.38% of the company’s stock.
Donegal Group Company Profile
Donegal Group Inc (DGI) is an insurance holding company whose insurance subsidiaries offer personal and commercial lines of property and casualty insurance to businesses and individuals in over 21 Mid-Atlantic, Midwestern, New England and Southern states. The Company has four segments, which consist of its investment function, its personal lines of insurance, its commercial lines of insurance and its investment in Donegal Financial Services Corporation (DFSC).
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