Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Buys $189,500.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 10,000 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were acquired at an average price of $18.95 per share, with a total value of $189,500.00. Following the transaction, the insider owned 14,243,714 shares of the company’s stock, valued at $269,918,380.30. The trade was a 0.07% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 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 Tuesday, September 1st, Mutual Insurance Co Donegal purchased 9,257 shares of Donegal Group stock. The stock was acquired at an average price of $19.17 per share, for a total transaction of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were acquired at an average cost of $19.18 per share, with a total value of $191,800.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal acquired 9,508 shares of Donegal Group stock. The shares were bought at an average price of $19.11 per share, with a total value of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.06 per share, for a total transaction of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average price of $18.68 per share, for a total transaction of $186,800.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal purchased 9,815 shares of Donegal Group stock. The shares were bought at an average cost of $18.66 per share, with a total value of $183,147.90.
• On Wednesday, August 19th, Mutual Insurance Co Donegal purchased 9,700 shares of Donegal Group stock. The stock was bought at an average cost of $18.61 per share, with a total value of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $18.52 per share, with a total value of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal acquired 18,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.67 per share, for a total transaction of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal acquired 9,682 shares of Donegal Group stock. The shares were bought at an average cost of $17.62 per share, for a total transaction of $170,596.84.

Donegal Group Trading Up 0.9%

Donegal Group stock opened at $19.35 on Thursday. The stock has a 50-day moving average price of $18.94 and a 200 day moving average price of $17.91. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The stock has a market cap of $1.28 billion, a PE ratio of 10.03 and a beta of -0.01. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. The company had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. Equities research analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.1925 per share. The ex-dividend date was Friday, July 31st. This represents a $0.77 dividend on an annualized basis and a yield of 4.0%. Donegal Group’s dividend payout ratio (DPR) is 39.90%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co increased its stake in Donegal Group by 31.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 896 shares during the last quarter. Strs Ohio lifted its stake in shares of Donegal Group by 3.7% in the 4th quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock valued at $565,000 after purchasing an additional 1,000 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Donegal Group by 8.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 1,000 shares during the period. Qube Research & Technologies Ltd increased its position in Donegal Group by 1.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider’s stock worth $2,576,000 after purchasing an additional 1,274 shares in the last quarter. Finally, Mariner LLC raised its holdings in Donegal Group by 9.9% in the fourth quarter. Mariner LLC now owns 14,874 shares of the insurance provider’s stock valued at $297,000 after buying an additional 1,342 shares during the period. Institutional investors and hedge funds own 27.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DGICA. Keefe, Bruyette & Woods raised their price objective on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.00.

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.