Donegal group’s Vincent Viozzi sells $171,054 in inventory

Vincent Viozzi, the Senior Vice President and Chief Funding Officer of Donegal Group Inc. (NASDAQ:DGICA), a $544 million property and casualty insurance coverage firm that has maintained dividend funds for twenty-four consecutive years, lately offered 10,500 shares of the corporate’s Class A Widespread Inventory. Based on InvestingPro knowledge, DGICA shares have surged practically 31% over the previous six months. The shares had been offered on December 13 at a median value of $16.29 per share, amounting to a complete transaction worth of roughly $171,054. Following this sale, Viozzi holds 9,891 shares immediately.

In a associated transfer, Viozzi acquired 10,500 shares via the train of choices at a value of $14.43 per share on the identical day. This transaction, valued at roughly $151,515, displays Viozzi’s strategic administration of his inventory choices.

Along with his direct holdings, Viozzi maintains an oblique possession of three,014 shares via a 401(okay) plan.

In different current information, Donegal Group Inc. introduced noteworthy developments in its Third Quarter 2024 Earnings Name and board of administrators. The corporate reported a web revenue of $16.8 million, or $0.51 per Class A share, regardless of dealing with $6 million in pre-tax disaster losses attributable to Hurricane Helene. The corporate’s web premiums earned rose by 6% to $238 million, demonstrating resilience within the face of trade challenges.

Donegal Group additionally revealed that director Scott A. Berlucchi will retire and never search re-election on the 2025 annual stockholders assembly. The corporate asserted that Berlucchi’s determination was not attributable to any disagreements with the corporate’s operations, insurance policies, or practices. Particulars concerning modifications to the board’s composition following Berlucchi’s departure haven’t but been supplied.

Along with these current developments, Donegal Group accomplished strategic exits from industrial insurance policies in Georgia and Alabama, with plans for software program enhancements to enhance coverage administration set for January 2025. Analysts highlighted the corporate’s alignment of development methods throughout areas and a give attention to disciplined expense discount, aiming to enhance the expense ratio by two factors by the tip of 2025. Regardless of challenges, these current developments point out Donegal Group’s strategic give attention to development and effectivity.

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