Mutual Insurance Co Donegal Purchases 10,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 10,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was bought at an average cost of $18.52 per share, for a total transaction of $185,200.00. Following the transaction, the insider directly owned 14,164,691 shares of the company’s stock, valued at $262,330,077.32. The trade was a 0.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Thursday, August 6th, Mutual Insurance Co Donegal bought 18,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.67 per share, with a total value of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal purchased 9,682 shares of Donegal Group stock. The shares were bought at an average price of $17.62 per share, with a total value of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal purchased 9,900 shares of Donegal Group stock. The stock was bought at an average cost of $17.56 per share, for a total transaction of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was bought at an average price of $16.62 per share, for a total transaction of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $16.76 per share, with a total value of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was bought at an average price of $16.98 per share, with a total value of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.40 per share, for a total transaction of $147,900.00.

Donegal Group Stock Up 0.9%

NASDAQ:DGICA opened at $18.67 on Friday. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The stock’s fifty day moving average is $18.68 and its two-hundred day moving average is $17.89. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 9.67 and a beta of -0.01. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The business had revenue of $241.12 million during the quarter, compared to analysts’ expectations of $231.53 million. Research analysts anticipate that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s payout ratio is currently 39.90%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DGICA. Weiss Ratings raised shares of Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their price objective on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DGICA. Royce & Associates LP raised its position in Donegal Group by 579.4% in the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock valued at $3,394,000 after purchasing an additional 144,853 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Donegal Group by 41.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock worth $4,746,000 after buying an additional 80,614 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Donegal Group by 145.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 67,726 shares of the insurance provider’s stock worth $1,245,000 after buying an additional 40,078 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Donegal Group by 44.9% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 36,749 shares of the insurance provider’s stock worth $631,000 after buying an additional 11,386 shares during the period. Finally, QRG Capital Management Inc. purchased a new stake in shares of Donegal Group during the first quarter worth approximately $223,000. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

About Donegal Group

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.