Donegal Group (NASDAQ:DGICA) Stock: Insider Mutual Insurance Co Donegal Purchases 7,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 7,500 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were bought at an average cost of $18.88 per share, for a total transaction of $141,600.00. Following the acquisition, the insider owned 14,457,628 shares of the company’s stock, valued at approximately $272,960,016.64. The trade was a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, November 9th, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The stock was bought at an average price of $18.81 per share, for a total transaction of $141,075.00.
• On Friday, November 6th, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The shares were bought at an average cost of $18.74 per share, with a total value of $140,550.00.
• On Thursday, November 5th, Mutual Insurance Co Donegal acquired 25,500 shares of Donegal Group stock. The shares were bought at an average cost of $18.86 per share, with a total value of $480,930.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal bought 7,500 shares of Donegal Group stock. The stock was bought at an average price of $18.69 per share, for a total transaction of $140,175.00.
• On Friday, September 11th, Mutual Insurance Co Donegal bought 54,725 shares of Donegal Group stock. The stock was bought at an average price of $19.23 per share, for a total transaction of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal bought 13,469 shares of Donegal Group stock. The stock was bought at an average cost of $19.13 per share, for a total transaction of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.13 per share, with a total value of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.14 per share, for a total transaction of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal acquired 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 acquired 9,595 shares of Donegal Group stock. The shares were purchased at an average price of $19.53 per share, with a total value of $187,390.35.

Donegal Group Stock Performance

Shares of DGICA stock traded up $0.10 during mid-day trading on Friday, hitting $19.06. The stock had a trading volume of 121,251 shares, compared to its average volume of 112,779. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The firm has a market cap of $713.23 million, a PE ratio of 10.19 and a beta of -0.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.40 and a quick ratio of 0.39. The company’s 50-day simple moving average is $18.66 and its 200-day simple moving average is $18.15.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. Donegal Group had a net margin of 7.24% and a return on equity of 10.45%. The business had revenue of $237.66 million for the quarter, compared to the consensus estimate of $214.12 million. Sell-side analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a $0.1925 dividend. The ex-dividend date is Monday, November 2nd. This represents a $0.77 dividend on an annualized basis and a yield of 4.0%. Donegal Group’s dividend payout ratio (DPR) is presently 41.18%.

Hedge Funds Weigh In On Donegal Group

A number of large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its holdings in Donegal Group by 214.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider’s stock worth $105,000 after buying an additional 4,016 shares in the last quarter. IFP Advisors Inc increased its holdings in Donegal Group by 27.8% in the second quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock valued at $174,000 after buying an additional 2,004 shares in the last quarter. Virtus Advisers LLC increased its holdings in Donegal Group by 16.8% in the third quarter. Virtus Advisers LLC now owns 9,866 shares of the insurance provider’s stock valued at $176,000 after buying an additional 1,417 shares in the last quarter. State of Wyoming purchased a new position in Donegal Group in the third quarter valued at about $177,000. Finally, Amundi acquired a new stake in shares of Donegal Group during the 1st quarter valued at approximately $206,000. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Analyst Ratings Changes

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

About Donegal Group

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.