Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 6,794 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 6,794 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were acquired at an average price of $19.74 per share, with a total value of $134,113.56. Following the purchase, the insider owned 13,708,670 shares of the company’s stock, valued at approximately $270,609,145.80. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 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 Tuesday, November 11th, Mutual Insurance Co Donegal acquired 7,297 shares of Donegal Group stock. The shares were bought 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 bought 8,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.36 per share, for a total transaction of $154,880.00.
• On Thursday, November 6th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.13 per share, for a total transaction of $153,040.00.
• On Tuesday, November 4th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The stock was purchased at an average price of $18.71 per share, with a total value of $149,680.00.
• On Friday, September 12th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The shares were acquired at an average cost of $19.53 per share, with a total value of $390,600.00.
• On Thursday, September 11th, Mutual Insurance Co Donegal bought 16,573 shares of Donegal Group stock. The stock was acquired at an average price of $19.45 per share, with a total value of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The shares were bought at an average price of $18.99 per share, for a total transaction of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal purchased 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 acquired 19,025 shares of Donegal Group stock. The shares were purchased at an average cost of $19.10 per share, for a total transaction of $363,377.50.

Donegal Group Trading Up 0.5%

Donegal Group stock traded up $0.09 during mid-day trading on Friday, hitting $19.98. The stock had a trading volume of 141,096 shares, compared to its average volume of 130,726. The stock has a market capitalization of $729.45 million, a PE ratio of 8.39 and a beta of 0.01. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06. The stock has a 50-day simple moving average of $19.25 and a two-hundred day simple moving average of $18.95. Donegal Group, Inc. has a 12 month low of $14.17 and a 12 month high of $21.12.

Donegal Group (NASDAQ:DGICA) last posted its earnings results 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 business had revenue of $245.92 million during 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 forecast that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be given a dividend of $0.1825 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $0.73 annualized dividend and a dividend yield of 3.7%. Donegal Group’s payout ratio is 30.17%.

Analysts Set New Price Targets

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

Institutional Trading of Donegal Group

Institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC increased its stake in shares of Donegal Group by 21.4% in the 1st quarter. Hsbc Holdings PLC now owns 47,551 shares of the insurance provider’s stock valued at $936,000 after purchasing an additional 8,394 shares during the last quarter. XTX Topco Ltd boosted its stake in Donegal Group by 56.8% in the first quarter. XTX Topco Ltd now owns 16,387 shares of the insurance provider’s stock valued at $322,000 after buying an additional 5,935 shares in the last quarter. CWM LLC grew its position in Donegal Group by 21.9% in the second quarter. CWM LLC now owns 6,293 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 1,130 shares during the last quarter. Inspire Investing LLC acquired a new position in Donegal Group during the first quarter worth about $825,000. Finally, Russell Investments Group Ltd. raised its stake in Donegal Group by 47.4% during the first quarter. Russell Investments Group Ltd. now owns 5,225 shares of the insurance provider’s stock worth $103,000 after acquiring an additional 1,681 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors.

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.