Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 7,500 Shares of Company Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was bought at an average price of $18.74 per share, for a total transaction of $140,550.00. Following the completion of the transaction, the insider owned 14,435,128 shares of the company’s stock, valued at $270,514,298.72. The trade was a 0.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Thursday, November 5th, Mutual Insurance Co Donegal bought 25,500 shares of Donegal Group stock. The shares were bought at an average price of $18.86 per share, with a total value of $480,930.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The stock was bought at an average cost of $18.69 per share, with a total value of $140,175.00.
• On Friday, September 11th, Mutual Insurance Co Donegal purchased 54,725 shares of Donegal Group stock. The stock was bought at an average cost of $19.23 per share, for a total transaction of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal acquired 13,469 shares of Donegal Group stock. The shares were bought at an average price of $19.13 per share, for a total transaction of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was bought at an average price of $19.13 per share, with a total value of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was bought at an average price of $19.14 per share, with a total value of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal bought 6,368 shares of Donegal Group stock. The stock was purchased 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 purchased 9,595 shares of Donegal Group stock. The shares were purchased 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 purchased at an average price of $19.43 per share, for a total transaction of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal acquired 9,257 shares of Donegal Group stock. The stock was purchased at an average price of $19.17 per share, with a total value of $177,456.69.

Donegal Group Price Performance

Shares of Donegal Group stock opened at $18.73 on Tuesday. The firm has a market capitalization of $695.26 million, a PE ratio of 10.02 and a beta of -0.03. 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 business’s 50-day moving average price is $18.69 and its 200-day moving average price is $18.14.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Donegal Group had a return on equity of 10.49% and a net margin of 7.24%. The company had revenue of $237.66 million during the quarter, compared to the consensus estimate of $214.12 million. Sell-side analysts forecast that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, November 2nd. Donegal Group’s payout ratio is 41.18%.

Wall Street Analyst Weigh In

DGICA has been the topic of several recent research reports. Zacks Research upgraded Donegal Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 16th. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.00.

Institutional Trading of Donegal Group

Several large investors have recently added to or reduced their stakes in the business. Virtus Advisers LLC increased its holdings in Donegal Group by 16.8% in the 3rd quarter. Virtus Advisers LLC now owns 9,866 shares of the insurance provider’s stock worth $176,000 after acquiring an additional 1,417 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Donegal Group by 68.7% during the third quarter. Russell Investments Group Ltd. now owns 22,747 shares of the insurance provider’s stock valued at $405,000 after buying an additional 9,266 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Donegal Group by 6.7% during the third quarter. Commonwealth Equity Services LLC now owns 21,290 shares of the insurance provider’s stock valued at $379,000 after purchasing an additional 1,336 shares in the last quarter. State of Wyoming bought a new stake in Donegal Group during the 3rd quarter valued at $177,000. Finally, Pinnacle Associates Ltd. grew its stake in Donegal Group by 3.5% in the third quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider’s stock valued at $1,710,000 after purchasing an additional 3,264 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors.

Donegal Group Company Profile

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies.

The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.

Donegal Group was organized in 1986 as a publicly traded affiliate of Donegal Mutual Insurance Company, whose roots date to the late 19th century.