Donegal Group (NASDAQ:DGICA) Major Shareholder Acquires $148,155.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 8,500 shares of the stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $17.43 per share, with a total value of $148,155.00. Following the transaction, the insider owned 14,039,109 shares of the company’s stock, valued at $244,701,669.87. This trade represents a 0.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own more than 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 Tuesday, May 19th, Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group stock. The shares were bought at an average price of $17.48 per share, for a total transaction of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.33 per share, with a total value of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was bought at an average cost of $17.16 per share, with a total value of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $16.86 per share, for a total transaction of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $17.18 per share, for a total transaction of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal bought 8,077 shares of Donegal Group stock. The stock was bought at an average price of $17.13 per share, with a total value of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.06 per share, for a total transaction of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $16.50 per share, for a total transaction of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal bought 9,000 shares of Donegal Group stock. The shares were bought at an average cost of $17.63 per share, for a total transaction of $158,670.00.

Donegal Group Price Performance

Shares of NASDAQ:DGICA opened at $17.34 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 debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The stock’s 50 day moving average price is $17.23 and its 200 day moving average price is $18.50. The stock has a market cap of $642.45 million, a price-to-earnings ratio of 9.69 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). The business had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%. Equities research analysts anticipate that Donegal Group, Inc. will post 1.7 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.1925 dividend. The ex-dividend date was Friday, May 1st. This represents a $0.77 annualized dividend and a yield of 4.4%. This is a boost from Donegal Group’s previous quarterly dividend of $0.18. Donegal Group’s dividend payout ratio (DPR) is currently 43.02%.

Institutional Trading of Donegal Group

Several institutional investors have recently made changes to their positions in DGICA. Royce & Associates LP raised its position in Donegal Group by 579.4% in the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after purchasing an additional 144,853 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Donegal Group by 117.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock valued at $4,718,000 after buying an additional 127,470 shares in the last quarter. Two Sigma Investments LP grew its position 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. Arrowstreet Capital Limited Partnership increased its position 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 purchasing an additional 80,614 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Donegal Group by 157.1% during the second quarter. Qube Research & Technologies Ltd now owns 131,574 shares of the insurance provider’s stock worth $2,635,000 after buying an additional 80,395 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, May 1st. Weiss Ratings downgraded Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.00.

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.