Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 10,000 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock in a transaction dated Tuesday, September 8th. The stock was bought at an average price of $19.14 per share, with a total value of $191,400.00. Following the completion of the purchase, the insider directly owned 14,308,934 shares in the company, valued at $273,872,996.76. This represents a 0.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available 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, September 4th, Mutual Insurance Co Donegal bought 6,368 shares of Donegal Group stock. The stock was bought at an average cost of $19.39 per share, for a total transaction of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal bought 9,595 shares of Donegal Group stock. The shares were bought at an average price of $19.53 per share, for a total transaction of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.43 per share, with a total value of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal purchased 9,257 shares of Donegal Group stock. The stock was bought at an average price of $19.17 per share, with a total value of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.18 per share, for a total transaction of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $18.95 per share, for a total transaction of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal acquired 9,508 shares of Donegal Group stock. The shares were bought at an average cost of $19.11 per share, for a total transaction of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average price of $19.06 per share, with a total value of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased 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 shares were purchased at an average price of $18.66 per share, for a total transaction of $183,147.90.

Donegal Group Price Performance

NASDAQ DGICA opened at $19.00 on Thursday. 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 stock has a market cap of $705.28 million, a price-to-earnings ratio of 9.84 and a beta of -0.01. The company’s 50 day moving average is $19.00 and its two-hundred day moving average is $17.94.

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

Donegal Group Dividend Announcement

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

Hedge Funds Weigh In On Donegal Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP increased its stake in Donegal Group by 579.4% in the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after acquiring an additional 144,853 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Donegal Group by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock worth $4,746,000 after acquiring an additional 80,614 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Donegal Group by 145.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 67,726 shares of the insurance provider’s stock valued at $1,245,000 after acquiring an additional 40,078 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Donegal Group by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock valued at $29,846,000 after acquiring an additional 7,345 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Donegal Group by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock valued at $2,862,000 after purchasing an additional 9,075 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. Keefe, Bruyette & Woods upped their price objective on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.