Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 9,508 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 9,508 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were bought at an average cost of $19.11 per share, for a total transaction of $181,697.88. Following the completion of the acquisition, the insider directly owned 14,233,714 shares in the company, valued at $272,006,274.54. The trade was a 0.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, August 24th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.06 per share, with a total value of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $18.68 per share, with a total value of $186,800.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal bought 9,815 shares of Donegal Group stock. The stock was bought at an average price of $18.66 per share, for a total transaction of $183,147.90.
• On Wednesday, August 19th, Mutual Insurance Co Donegal bought 9,700 shares of Donegal Group stock. The shares were bought at an average cost of $18.61 per share, for a total transaction of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average price of $18.52 per share, with a total value of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal purchased 18,000 shares of Donegal Group stock. The stock was purchased at an average price 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 purchased at an average price of $17.62 per share, with a total value of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal acquired 9,900 shares of Donegal Group stock. The shares were purchased at an average cost 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 purchased at an average price 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 shares were purchased at an average price of $16.76 per share, for a total transaction of $142,460.00.

Donegal Group Price Performance

Shares of DGICA opened at $18.98 on Friday. 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 stock has a market cap of $704.54 million, a PE ratio of 9.83 and a beta of -0.01. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The business has a 50-day simple moving average of $18.83 and a two-hundred day simple moving average of $17.89.

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

Donegal Group Announces Dividend

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

Hedge Funds Weigh In On Donegal Group

A number of hedge funds and other institutional investors have recently made changes to their positions in DGICA. Royce & Associates LP increased its position in 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 purchasing an additional 144,853 shares during the period. Arrowstreet Capital Limited Partnership lifted 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 worth $4,746,000 after purchasing an additional 80,614 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Donegal Group by 145.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 67,726 shares of the insurance provider’s stock worth $1,245,000 after purchasing an additional 40,078 shares during the period. Strs Ohio boosted its stake in shares of Donegal Group by 3.7% in the 4th quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock valued at $565,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of Donegal Group in the 4th quarter valued at $408,000. 27.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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