Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $186,800.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock in a transaction dated Friday, August 21st. The stock was purchased at an average price of $18.68 per share, with a total value of $186,800.00. Following the completion of the purchase, the insider directly owned 14,204,206 shares of the company’s stock, valued at $265,334,568.08. The trade was a 0.07% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% 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 Wednesday, August 26th, Mutual Insurance Co Donegal bought 9,508 shares of Donegal Group stock. The stock was purchased at an average price of $19.11 per share, for a total transaction of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.06 per share, for a total transaction of $190,600.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal bought 9,815 shares of Donegal Group stock. The shares were purchased at an average cost of $18.66 per share, with a total value of $183,147.90.
• On Wednesday, August 19th, Mutual Insurance Co Donegal purchased 9,700 shares of Donegal Group stock. The shares were 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 purchased 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $18.52 per share, for a total transaction of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal acquired 18,000 shares of Donegal Group stock. The stock was acquired at an average price of $19.67 per share, for a total transaction of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal acquired 9,682 shares of Donegal Group stock. The shares were 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 bought 9,900 shares of Donegal Group stock. The shares were acquired at an average price of $17.56 per share, with a total value of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was 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 purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $16.76 per share, for a total transaction of $142,460.00.

Donegal Group Stock Down 0.6%

Shares of DGICA stock opened at $18.98 on Friday. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The firm has a market cap of $704.54 million, a PE ratio of 9.83 and a beta of -0.01. The stock has a 50 day moving average of $18.83 and a 200-day moving average of $17.89.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) 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 business had revenue of $241.12 million for the quarter, compared to the consensus estimate of $231.53 million. On average, equities analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Announces Dividend

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

Institutional Investors Weigh In On Donegal Group

A number of institutional investors have recently bought and sold shares of DGICA. California State Teachers Retirement System increased its holdings in Donegal Group by 1,721.1% in the 2nd quarter. California State Teachers Retirement System now owns 278,204 shares of the insurance provider’s stock valued at $5,247,000 after buying an additional 262,927 shares during the period. Royce & Associates LP boosted its position in shares of Donegal Group by 579.4% during the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock valued at $3,394,000 after acquiring an additional 144,853 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Donegal Group by 117.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock valued at $4,718,000 after acquiring an additional 127,470 shares in the last quarter. Two Sigma Investments LP increased its stake in Donegal Group by 139.8% in the third quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock valued at $2,956,000 after acquiring an additional 88,878 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Donegal Group by 41.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after acquiring an additional 80,614 shares during the period. Institutional investors and hedge funds own 27.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their target price on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Donegal Group has an average rating of “Moderate Buy” and a consensus price target of $20.00.

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.