Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 8,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,500 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $17.18 per share, with a total value of $146,030.00. Following the acquisition, the insider directly owned 13,979,781 shares in the company, valued at approximately $240,172,637.58. This trade represents a 0.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 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 Friday, May 8th, Mutual Insurance Co Donegal purchased 8,077 shares of Donegal Group stock. The shares were bought at an average cost of $17.13 per share, for a total transaction of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $17.06 per share, for a total transaction of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $16.50 per share, for a total transaction of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal purchased 9,000 shares of Donegal Group stock. The shares were bought at an average cost of $17.63 per share, for a total transaction of $158,670.00.

Donegal Group Stock Performance

Donegal Group stock opened at $17.01 on Thursday. The stock’s 50 day moving average price is $17.23 and its 200 day moving average price is $18.58. The firm has a market capitalization of $629.37 million, a PE ratio of 9.50 and a beta of 0.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. Donegal Group, Inc. has a one year low of $16.11 and a one year high of $21.12.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). The company had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%. As a group, sell-side analysts expect that Donegal Group, Inc. will post 1.7 EPS for the current fiscal year.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be given a dividend of $0.1925 per share. This is a boost from Donegal Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, May 1st. This represents a $0.77 annualized dividend and a yield of 4.5%. Donegal Group’s dividend payout ratio is presently 43.02%.

Analyst Ratings Changes

A number of brokerages have issued reports on DGICA. Keefe, Bruyette & Woods cut their target price on Donegal Group from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, May 1st. Weiss Ratings lowered Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.00.

Hedge Funds Weigh In On Donegal Group

A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of Donegal Group by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock valued at $29,846,000 after purchasing an additional 7,345 shares in the last quarter. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 39,181 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Donegal Group by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 534,703 shares of the insurance provider’s stock valued at $10,685,000 after acquiring an additional 11,891 shares in the last quarter. State Street Corp raised its position in shares of Donegal Group by 0.8% during the 4th quarter. State Street Corp now owns 391,729 shares of the insurance provider’s stock valued at $7,827,000 after acquiring an additional 3,290 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Donegal Group by 1.6% during the 4th quarter. Renaissance Technologies LLC now owns 371,211 shares of the insurance provider’s stock valued at $7,417,000 after acquiring an additional 5,800 shares in the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

Donegal Group Company Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.