Donegal Group (NASDAQ:DGICA) Major Shareholder Buys 9,257 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 9,257 shares of the stock in a transaction dated Tuesday, September 1st. The shares were purchased at an average cost of $19.17 per share, for a total transaction of $177,456.69. Following the completion of the transaction, the insider directly owned 14,272,971 shares of the company’s stock, valued at $273,612,854.07. This trade represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 Monday, August 31st, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.18 per share, with a total value of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $18.95 per share, with a total value of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal purchased 9,508 shares of Donegal Group stock. The shares were acquired at an average price of $19.11 per share, with a total value of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.06 per share, for a total transaction of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were acquired at an average price 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 shares were acquired 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 stock was acquired 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 acquired 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $18.52 per share, with a total value of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal acquired 18,000 shares of Donegal Group stock. The stock was bought 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 bought 9,682 shares of Donegal Group stock. The shares were bought at an average cost of $17.62 per share, for a total transaction of $170,596.84.

Donegal Group Trading Up 0.3%

Shares of Donegal Group stock opened at $19.17 on Wednesday. The company has a market capitalization of $711.57 million, a P/E ratio of 9.93 and a beta of -0.01. The stock has a fifty day simple moving average of $18.92 and a 200 day simple moving average of $17.90. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month 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.

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

Donegal Group Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s dividend payout ratio is presently 39.90%.

Analyst Ratings Changes

DGICA has been the topic of a number of research analyst reports. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Keefe, Bruyette & Woods lifted their price target on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Donegal Group has an average rating of “Hold” and an average price target of $20.00.

Institutional Trading of Donegal Group

A number of large investors have recently bought and sold shares of DGICA. Smartleaf Asset Management LLC raised its stake in shares of 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 buying an additional 2,341 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Donegal Group by 422.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after acquiring an additional 2,975 shares during the last quarter. IFP Advisors Inc increased its holdings in Donegal Group by 1,377.6% in the 4th 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 during the last quarter. CANADA LIFE ASSURANCE Co raised its stake 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 acquiring an additional 896 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in 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 valued at $99,000 after purchasing an additional 4,022 shares during the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.