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 purchased 8,000 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was bought at an average cost of $19.92 per share, for a total transaction of $159,360.00. Following the purchase, the insider directly owned 13,745,670 shares in the company, valued at $273,813,746.40. This represents a 0.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 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 Monday, November 17th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.91 per share, with a total value of $159,280.00.
• On Thursday, November 13th, Mutual Insurance Co Donegal bought 29,000 shares of Donegal Group stock. The stock was purchased 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 purchased 6,794 shares of Donegal Group stock. The stock was purchased 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 acquired at an average cost of $19.66 per share, with a total value of $143,459.02.
• On Monday, November 10th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.36 per share, with a total value of $154,880.00.
• On Thursday, November 6th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The shares were bought at an average price of $19.13 per share, with a total value of $153,040.00.
• On Tuesday, November 4th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The shares were bought at an average cost of $18.71 per share, with a total value of $149,680.00.
• On Friday, September 12th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.53 per share, for a total transaction of $390,600.00.
• On Thursday, September 11th, Mutual Insurance Co Donegal purchased 16,573 shares of Donegal Group stock. The shares were purchased at an average cost of $19.45 per share, with a total value of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The shares were purchased at an average price of $18.99 per share, with a total value of $379,800.00.

Donegal Group Price Performance

Shares of DGICA opened at $19.90 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $729.18 million, a PE ratio of 8.36 and a beta of 0.01. Donegal Group, Inc. has a twelve month low of $14.17 and a twelve month high of $21.12. The firm’s 50 day moving average price is $19.27 and its 200 day moving average price is $18.95.

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

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were issued a dividend of $0.1825 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.7%. Donegal Group’s dividend payout ratio is currently 30.17%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Donegal Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new position in shares of Donegal Group during the third quarter valued at about $26,000. Allworth Financial LP increased its stake in Donegal Group by 477.2% during the second quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 2,448 shares during the period. Versant Capital Management Inc lifted its position in shares of Donegal Group by 79.1% in the 3rd quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock worth $58,000 after acquiring an additional 1,329 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Donegal Group by 422.6% during 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. Finally, Tower Research Capital LLC TRC increased its position in shares of Donegal Group by 443.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after purchasing an additional 4,022 shares during the period. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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.