Mutual Insurance Co Donegal Buys 9,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 9,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were bought at an average cost of $17.63 per share, for a total transaction of $158,670.00. Following the purchase, the insider directly owned 13,937,704 shares in the company, valued at approximately $245,721,721.52. This represents a 0.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 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 Wednesday, December 10th, Mutual Insurance Co Donegal purchased 22,819 shares of Donegal Group stock. The shares were bought at an average price of $20.05 per share, for a total transaction of $457,520.95.
• On Tuesday, December 9th, Mutual Insurance Co Donegal purchased 28,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.81 per share, with a total value of $554,680.00.
• On Monday, December 8th, Mutual Insurance Co Donegal acquired 27,524 shares of Donegal Group stock. The stock was bought at an average price of $19.53 per share, with a total value of $537,543.72.

Donegal Group Stock Performance

Donegal Group stock opened at $17.52 on Friday. Donegal Group, Inc. has a fifty-two week low of $16.50 and a fifty-two week high of $21.12. The stock’s 50 day simple moving average is $18.75 and its two-hundred day simple moving average is $19.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market cap of $641.93 million, a price-to-earnings ratio of 8.00 and a beta of 0.05.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, February 19th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). The firm had revenue of $240.14 million during the quarter, compared to the consensus estimate of $241.10 million. Donegal Group had a return on equity of 12.99% and a net margin of 8.11%. As a group, analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd were paid a $0.1825 dividend. This represents a $0.73 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, February 3rd. Donegal Group’s dividend payout ratio is presently 33.33%.

Analysts Set New Price Targets

DGICA has been the subject of several recent research reports. Zacks Research lowered Donegal Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Keefe, Bruyette & Woods reduced their target price on shares of Donegal Group from $21.00 to $19.50 and set a “market perform” rating on the stock in a research report on Friday, February 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Donegal Group presently has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DGICA. State of Alaska Department of Revenue bought a new stake in Donegal Group in the third quarter worth $26,000. Smartleaf Asset Management LLC grew its stake in shares of Donegal Group by 576.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 2,341 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Donegal Group by 79.1% during the third quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock valued at $58,000 after acquiring an additional 1,329 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Donegal Group by 477.2% during the second quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 2,448 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Donegal Group by 422.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 2,975 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.

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.