Donegal Group (NASDAQ:DGICA) Major Shareholder Buys $123,475.52 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 6,368 shares of the stock in a transaction dated Friday, September 4th. The stock was acquired at an average cost of $19.39 per share, with a total value of $123,475.52. Following the transaction, the insider owned 14,298,934 shares of the company’s stock, valued at approximately $277,256,330.26. This trade represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock 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 8th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.14 per share, for a total transaction of $191,400.00.
• On Thursday, September 3rd, Mutual Insurance Co Donegal purchased 9,595 shares of Donegal Group stock. The stock was acquired at an average cost of $19.53 per share, for a total transaction of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $19.43 per share, with a total value of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal acquired 9,257 shares of Donegal Group stock. The shares were bought at an average cost of $19.17 per share, with a total value of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average price of $19.18 per share, for a total transaction of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average price of $18.95 per share, for a total transaction of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal bought 9,508 shares of Donegal Group stock. The stock was 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 purchased 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.06 per share, with a total value of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $18.68 per share, with a total value 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, for a total transaction of $183,147.90.

Donegal Group Trading Down 0.9%

Shares of DGICA traded down $0.17 during mid-day trading on Wednesday, reaching $18.83. The company had a trading volume of 37,104 shares, compared to its average volume of 125,767. 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 fifty day simple moving average of $19.00 and a 200-day simple moving average of $17.93. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 9.75 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 quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, topping 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 the consensus estimate of $231.53 million. On average, sell-side analysts anticipate that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, July 31st. Donegal Group’s dividend payout ratio (DPR) is 39.90%.

Institutional Investors Weigh In On Donegal Group

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in Donegal Group by 1,721.1% during the 2nd quarter. California State Teachers Retirement System now owns 278,204 shares of the insurance provider’s stock worth $5,247,000 after buying an additional 262,927 shares during the period. Royce & Associates LP boosted 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 buying an additional 144,853 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Donegal Group by 117.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock valued at $4,718,000 after buying an additional 127,470 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Donegal Group by 139.8% during the third quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock valued at $2,956,000 after acquiring an additional 88,878 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake 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 valued at $4,746,000 after acquiring an additional 80,614 shares in the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. Keefe, Bruyette & Woods lifted their price target on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.00.

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.