Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 9,900 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 9,900 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $17.56 per share, for a total transaction of $173,844.00. Following the transaction, the insider owned 14,127,009 shares of the company’s stock, valued at $248,070,278.04. This trade represents a 0.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, June 12th, Mutual Insurance Co Donegal purchased 9,682 shares of Donegal Group stock. The shares were purchased at an average price of $17.62 per share, with a total value of $170,596.84.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average price of $16.62 per share, with a total value of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price 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 shares were purchased at an average price of $16.98 per share, with a total value of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.33 per share, with a total value of $147,305.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.40 per share, with a total value of $147,900.00.
• On Wednesday, May 20th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.43 per share, with a total value of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal purchased 8,328 shares of Donegal Group stock. The shares were purchased at an average price of $17.48 per share, with a total value of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.33 per share, with a total value of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.16 per share, with a total value of $145,860.00.

Donegal Group Trading Down 1.5%

DGICA opened at $17.34 on Tuesday. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The business has a fifty day simple moving average of $17.26 and a 200-day simple moving average of $18.23. The firm has a market cap of $642.45 million, a P/E ratio of 9.69 and a beta of 0.01. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). The business had revenue of $236.00 million during 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%. On average, equities analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.1925 dividend. This represents a $0.77 annualized dividend and a dividend yield of 4.4%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 1st. Donegal Group’s payout ratio is presently 43.02%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Donegal Group

Institutional investors and hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in shares of Donegal Group by 576.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 2,341 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Donegal Group by 422.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 2,975 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Donegal Group by 31.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after purchasing an additional 896 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Donegal Group by 1,377.6% during the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after purchasing an additional 3,513 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Donegal Group by 443.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after purchasing an additional 4,022 shares in the last quarter. Institutional investors and hedge funds 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.