Donegal Group (NASDAQ:DGICA) Major Shareholder Acquires $158,670.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 9,000 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was purchased at an average price of $17.63 per share, with a total value of $158,670.00. Following the transaction, the insider owned 13,937,704 shares in the company, valued at approximately $245,721,721.52. This represents a 0.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Wednesday, December 10th, Mutual Insurance Co Donegal purchased 22,819 shares of Donegal Group stock. The shares were purchased at an average cost of $20.05 per share, for a total transaction of $457,520.95.
• On Tuesday, December 9th, Mutual Insurance Co Donegal acquired 28,000 shares of Donegal Group stock. The shares were purchased at an average price of $19.81 per share, for a total transaction of $554,680.00.
• On Monday, December 8th, Mutual Insurance Co Donegal acquired 27,524 shares of Donegal Group stock. The stock was acquired at an average cost of $19.53 per share, with a total value of $537,543.72.

Donegal Group Stock Performance

Donegal Group stock opened at $17.52 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39. Donegal Group, Inc. has a 12 month low of $16.50 and a 12 month high of $21.12. The company has a fifty day moving average price of $18.75 and a two-hundred day moving average price of $19.14. The company has a market cap of $641.93 million, a PE ratio of 8.00 and a beta of 0.05.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, February 19th. The insurance provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). Donegal Group had a return on equity of 12.99% and a net margin of 8.11%.The business had revenue of $240.14 million for the quarter, compared to analyst estimates of $241.10 million. Research analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd were given a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, February 3rd. Donegal Group’s dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

DGICA has been the topic of a number of recent research reports. Zacks Research cut shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Donegal Group in a report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods dropped their price target on Donegal Group from $21.00 to $19.50 and set a “market perform” rating on the stock in a research report on Friday, February 20th. Two 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Institutional Trading of Donegal Group

A number of large investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV boosted its stake in Donegal Group by 20.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 12,150 shares of the insurance provider’s stock valued at $243,000 after purchasing an additional 2,081 shares during the period. Price T Rowe Associates Inc. MD bought a new position in Donegal Group in the 4th quarter worth about $203,000. State of Wisconsin Investment Board increased its stake in shares of Donegal Group by 104.5% in the fourth quarter. State of Wisconsin Investment Board now owns 23,021 shares of the insurance provider’s stock valued at $460,000 after purchasing an additional 11,765 shares during the period. MML Investors Services LLC increased its stake in shares of Donegal Group by 28.4% in the fourth quarter. MML Investors Services LLC now owns 69,106 shares of the insurance provider’s stock valued at $1,381,000 after purchasing an additional 15,289 shares during the period. Finally, Mariner LLC raised its holdings in shares of Donegal Group by 9.9% during the fourth quarter. Mariner LLC now owns 14,874 shares of the insurance provider’s stock valued at $297,000 after buying an additional 1,342 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

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.