Donegal Group re-elects directors, ratifies KPMG as auditor

In a recent SEC filing, Donegal Group Inc. (NASDAQ:DGICA) (NASDAQ:DGICB) announced the results of its annual stockholders meeting held on April 17, 2025. The insurance company, headquartered in Marietta, Pennsylvania, with a market capitalization of $629 million, confirmed the re-election of two directors and the ratification of its independent auditor. According to InvestingPro data, Donegal Group has maintained consistent dividend payments for 24 consecutive years, currently offering a 4.09% yield.

At the annual meeting, a significant portion of the company’s voting power was represented, with 7,920,015 votes cast out of a possible 8,582,980. Stockholders re-elected Barry C. Huber and S. Trezevant Moore, Jr. as Class C Directors for a three-year term. Huber received 6,949,555 votes for his re-election, with 676,020 withheld and 294,440 broker non-votes. Moore garnered 6,708,861 votes in favor, 916,714 withheld, and the same number of broker non-votes as Huber.

Additionally, stockholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for Donegal Group for the year 2025. The proposal passed with 7,855,170 votes for, 62,983 against, and 1,862 abstentions.

The annual meeting did not feature any other nominations for the position of Class C Director, and there were no abstentions in the election of the Class C Directors. The filing was signed by Jeffrey D. Miller, Executive Vice President and Chief Financial Officer of Donegal Group Inc., on April 22, 2025, the same day the report was filed with the SEC. With its upcoming earnings announcement on April 24, 2025, investors should note that the company’s stock has shown strong momentum, posting a 26.43% return over the past six months. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with eight additional valuable insights available to subscribers.

This corporate governance event maintains the status quo in the company’s leadership and continues its relationship with a reputable auditing firm, ensuring consistency in the oversight of Donegal Group’s financial practices. Trading at a P/E ratio of 11.01 and maintaining a "GREAT" overall financial health score according to InvestingPro, the company demonstrates solid fundamental strength. The information is based on a press release statement and comprehensive financial analysis available through InvestingPro’s detailed research reports, which cover over 1,400 US stocks.

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