Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 16,573 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 16,573 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was bought at an average cost of $19.45 per share, with a total value of $322,344.85. Following the transaction, the insider owned 13,634,579 shares in the company, valued at $265,192,561.55. This trade represents a 0.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% 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 Wednesday, September 10th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The stock was bought at an average cost of $18.99 per share, with a total value of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal bought 19,352 shares of Donegal Group stock. The stock was bought at an average cost of $19.24 per share, with a total value of $372,332.48.
• On Monday, September 8th, Mutual Insurance Co Donegal bought 19,025 shares of Donegal Group stock. The stock was bought at an average cost of $19.10 per share, with a total value of $363,377.50.
• On Thursday, September 4th, Mutual Insurance Co Donegal bought 19,212 shares of Donegal Group stock. The stock was bought at an average cost of $19.22 per share, with a total value of $369,254.64.
• On Wednesday, September 3rd, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The shares were acquired at an average cost of $18.37 per share, with a total value of $367,400.00.
• On Tuesday, September 2nd, Mutual Insurance Co Donegal acquired 19,440 shares of Donegal Group stock. The shares were acquired at an average cost of $18.27 per share, with a total value of $355,168.80.
• On Friday, August 29th, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The shares were acquired at an average cost of $17.84 per share, with a total value of $356,800.00.
• On Thursday, August 28th, Mutual Insurance Co Donegal acquired 8,032 shares of Donegal Group stock. The shares were acquired at an average cost of $17.61 per share, with a total value of $141,443.52.
• On Tuesday, August 26th, Mutual Insurance Co Donegal acquired 15,815 shares of Donegal Group stock. The shares were acquired at an average cost of $17.45 per share, with a total value of $275,971.75.
• On Wednesday, August 27th, Mutual Insurance Co Donegal acquired 15,509 shares of Donegal Group stock. The shares were acquired at an average cost of $17.49 per share, with a total value of $271,252.41.

Donegal Group Trading Down 1.2%

Shares of DGICA stock opened at $19.48 on Friday. Donegal Group, Inc. has a 1 year low of $14.06 and a 1 year high of $21.12. The firm has a fifty day moving average price of $17.98 and a 200-day moving average price of $18.68. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $711.20 million and a price-to-earnings ratio of 8.18.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. The firm had revenue of $233.81 million during the quarter, compared to the consensus estimate of $247.21 million. As a group, equities analysts predict that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $0.1825 per share. The ex-dividend date was Friday, August 1st. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.7%. Donegal Group’s payout ratio is 30.67%.

Analyst Ratings Changes

A number of research firms recently weighed in on DGICA. Wall Street Zen cut shares of Donegal Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Janney Montgomery Scott upgraded shares of Donegal Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 2nd. Finally, Zacks Research upgraded shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $18.00.

Institutional Trading of Donegal Group

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP lifted its stake in Donegal Group by 477.2% in the 2nd quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 2,448 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 2,975 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Donegal Group by 443.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after purchasing an additional 4,022 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Donegal Group in the 2nd quarter worth $101,000. Finally, CWM LLC lifted its stake in Donegal Group by 78.0% in the 1st quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock worth $101,000 after purchasing an additional 2,263 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.