Donegal Group (NASDAQ:DGICA) Major Shareholder Buys $147,305.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,500 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were bought at an average price of $17.33 per share, with a total value of $147,305.00. Following the purchase, the insider owned 14,022,281 shares in the company, valued at $243,006,129.73. The trade was a 0.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 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 Wednesday, May 20th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought at an average price of $17.43 per share, for a total transaction of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal purchased 8,328 shares of Donegal Group stock. The stock was bought at an average cost of $17.48 per share, for a total transaction of $145,573.44.
• On Friday, May 15th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average price 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, with a total value of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost 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 shares were purchased at an average price of $17.13 per share, for a total transaction of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.06 per share, with a total value of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.50 per share, with a total value of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal acquired 9,000 shares of Donegal Group stock. The stock was purchased at an average cost of $17.63 per share, for a total transaction of $158,670.00.

Donegal Group Stock Up 0.7%

DGICA stock opened at $17.56 on Friday. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week 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 has a market capitalization of $650.60 million, a price-to-earnings ratio of 9.81 and a beta of 0.01. The business’s fifty day moving average price is $17.22 and its two-hundred day moving average price is $18.51.

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

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.1925 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.77 dividend on an annualized basis and a yield of 4.4%. This is an increase from Donegal Group’s previous quarterly dividend of $0.18. Donegal Group’s payout ratio is presently 43.02%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Donegal Group

Several hedge funds have recently bought and sold shares of DGICA. Sierra Summit Advisors LLC bought a new stake in shares of Donegal Group during the 3rd quarter worth approximately $799,000. Fidelis Capital Partners LLC bought a new position in Donegal Group in the fourth quarter valued at approximately $204,000. Royce & Associates LP raised its position in Donegal Group by 579.4% during the fourth 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 in the last quarter. Strs Ohio raised its position in Donegal Group by 3.7% during the fourth 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 in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new stake in Donegal Group during the fourth quarter worth $408,000. 27.96% of the stock is owned by institutional investors.

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.