Donegal Group (NASDAQ:DGICA) Major Shareholder Buys 9,815 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 9,815 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were purchased at an average price of $18.66 per share, for a total transaction of $183,147.90. Following the completion of the purchase, the insider owned 14,194,206 shares of the company’s stock, valued at approximately $264,863,883.96. 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 is available at the SEC website. Large shareholders that own more than 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 Wednesday, August 19th, Mutual Insurance Co Donegal acquired 9,700 shares of Donegal Group stock. The stock was purchased at an average price of $18.61 per share, with a total value of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $18.52 per share, for a total transaction of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal bought 18,000 shares of Donegal Group stock. The shares were acquired at an average cost of $19.67 per share, with a total value of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal purchased 9,682 shares of Donegal Group stock. The stock was acquired at an average cost of $17.62 per share, with a total value of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal purchased 9,900 shares of Donegal Group stock. The stock was acquired at an average price of $17.56 per share, for a total transaction of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were acquired at an average cost of $16.62 per share, for a total transaction of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired 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 bought 8,500 shares of Donegal Group stock. The stock was acquired at an average cost 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 bought at an average cost of $17.33 per share, for a total transaction of $147,305.00.

Donegal Group Price Performance

Shares of DGICA traded up $0.08 during trading hours on Friday, reaching $18.75. The company had a trading volume of 14,152 shares, compared to its average volume of 125,380. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The firm has a 50 day simple moving average of $18.68 and a 200-day simple moving average of $17.89. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 9.72 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.11. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The company had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Research analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.1925 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 4.1%. Donegal Group’s payout ratio is currently 39.90%.

Institutional Investors Weigh In On Donegal Group

Hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its holdings in Donegal Group by 576.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 2,341 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Donegal Group by 422.6% during the 2nd 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. IFP Advisors Inc increased its position in shares of Donegal Group by 1,377.6% in the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 3,513 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Donegal Group by 31.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 896 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Donegal Group by 443.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after purchasing an additional 4,022 shares during the period. 27.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DGICA has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price target on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.00.

Donegal Group Company Profile

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.