Donegal Group (NASDAQ:DGICA) Major Shareholder Buys $166,200.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average price of $16.62 per share, for a total transaction of $166,200.00. Following the purchase, the insider directly owned 14,117,109 shares in the company, valued at $234,626,351.58. This represents a 0.07% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Monday, June 1st, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $16.76 per share, with a total value of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.98 per share, for a total transaction of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.33 per share, with a total value of $147,305.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.40 per share, for a total transaction of $147,900.00.
• On Wednesday, May 20th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were acquired at an average cost of $17.43 per share, with a total value of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal acquired 8,328 shares of Donegal Group stock. The stock was acquired at an average cost of $17.48 per share, for a total transaction of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.16 per share, with a total value of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $16.86 per share, for a total transaction of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was bought at an average price of $17.18 per share, with a total value of $146,030.00.

Donegal Group Price Performance

Shares of DGICA stock opened at $16.54 on Thursday. Donegal Group, Inc. has a 1 year low of $16.11 and a 1 year high of $21.06. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $17.24 and its 200-day moving average is $18.37. The firm has a market capitalization of $612.81 million, a price-to-earnings ratio of 9.24 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). The firm had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%. Sell-side analysts forecast that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.1925 dividend. The ex-dividend date of this dividend was Friday, May 1st. This is a boost from Donegal Group’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 4.7%. Donegal Group’s payout ratio is 43.02%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price target on Donegal Group from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, May 1st. Weiss Ratings downgraded Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.00.

Institutional Investors Weigh In On Donegal Group

Several large investors have recently bought and sold shares of DGICA. Royce & Associates LP raised its holdings in Donegal Group by 579.4% in the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after purchasing an additional 144,853 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Donegal Group by 117.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock valued at $4,718,000 after buying an additional 127,470 shares during the period. Two Sigma Investments LP increased its position in shares of Donegal Group by 139.8% in the 3rd quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock valued at $2,956,000 after buying an additional 88,878 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Donegal Group by 41.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after buying an additional 80,614 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Donegal Group by 157.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 131,574 shares of the insurance provider’s stock worth $2,635,000 after buying an additional 80,395 shares during the period. Institutional investors own 27.96% of the company’s stock.

About Donegal Group

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.