Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 8,000 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was bought at an average price of $20.18 per share, for a total transaction of $161,440.00. Following the purchase, the insider owned 13,800,361 shares in the company, valued at approximately $278,491,284.98. This represents a 0.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% 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 Friday, November 21st, Mutual Insurance Co Donegal acquired 51,404 shares of Donegal Group stock. The shares were purchased at an average price of $17.86 per share, for a total transaction of $918,075.44.
• On Thursday, November 20th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.49 per share, for a total transaction of $155,920.00.
• On Wednesday, November 19th, Mutual Insurance Co Donegal bought 7,587 shares of Donegal Group stock. The shares were acquired at an average price of $19.62 per share, with a total value of $148,856.94.
• On Tuesday, November 18th, Mutual Insurance Co Donegal purchased 7,104 shares of Donegal Group stock. The stock was acquired at an average price of $19.84 per share, for a total transaction of $140,943.36.
• On Monday, November 17th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.91 per share, for a total transaction of $159,280.00.
• On Friday, November 14th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The shares were bought at an average price of $19.92 per share, for a total transaction of $159,360.00.
• On Thursday, November 13th, Mutual Insurance Co Donegal purchased 29,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.53 per share, for a total transaction of $566,370.00.
• On Wednesday, November 12th, Mutual Insurance Co Donegal acquired 6,794 shares of Donegal Group stock. The shares were bought at an average price of $19.74 per share, with a total value of $134,113.56.
• On Tuesday, November 11th, Mutual Insurance Co Donegal bought 7,297 shares of Donegal Group stock. The stock was bought at an average price of $19.66 per share, for a total transaction of $143,459.02.
• On Monday, November 10th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The shares were purchased at an average price of $19.36 per share, with a total value of $154,880.00.

Donegal Group Stock Up 2.0%

DGICA stock opened at $20.50 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $19.34 and its 200 day simple moving average is $18.96. The stock has a market cap of $751.16 million, a PE ratio of 8.61 and a beta of 0.01. Donegal Group, Inc. has a fifty-two week low of $14.17 and a fifty-two week high of $21.12.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. The company had revenue of $245.92 million for the quarter, compared to analysts’ expectations of $244.19 million. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%. As a group, sell-side analysts predict that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were paid a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, November 3rd. Donegal Group’s payout ratio is currently 30.17%.

Hedge Funds Weigh In On Donegal Group

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Donegal Group by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider’s stock valued at $19,549,000 after buying an additional 39,181 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Donegal Group by 6.6% in the second quarter. Geode Capital Management LLC now owns 409,082 shares of the insurance provider’s stock worth $8,193,000 after acquiring an additional 25,259 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Donegal Group by 33.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider’s stock worth $7,132,000 after acquiring an additional 88,462 shares during the period. ProShare Advisors LLC raised its stake in Donegal Group by 5.0% during the 3rd quarter. ProShare Advisors LLC now owns 332,503 shares of the insurance provider’s stock valued at $6,447,000 after purchasing an additional 15,765 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in Donegal Group by 9.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 208,922 shares of the insurance provider’s stock worth $4,051,000 after purchasing an additional 17,546 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Janney Montgomery Scott upgraded shares of Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Donegal Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Donegal Group has an average rating of “Buy” and a consensus target price of $18.00.

Donegal Group Company Profile

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.