Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Acquires $140,175.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 7,500 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was bought at an average cost of $18.69 per share, for a total transaction of $140,175.00. Following the acquisition, the insider directly owned 14,394,628 shares of the company’s stock, valued at $269,035,597.32. This represents a 0.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major 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 Friday, September 11th, Mutual Insurance Co Donegal acquired 54,725 shares of Donegal Group stock. The shares were bought at an average cost of $19.23 per share, with a total value 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 price of $19.13 per share, for a total transaction of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.13 per share, for a total transaction of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.14 per share, for a total transaction of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal bought 6,368 shares of Donegal Group stock. The shares were bought at an average cost of $19.39 per share, with a total value of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal purchased 9,595 shares of Donegal Group stock. The stock was bought at an average price of $19.53 per share, with a total value of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.43 per share, for a total transaction of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal purchased 9,257 shares of Donegal Group stock. The stock was bought at an average cost 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 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 purchased at an average cost of $18.95 per share, with a total value of $189,500.00.

Donegal Group Price Performance

DGICA stock opened at $18.73 on Friday. Donegal Group, Inc. has a one year low of $16.11 and a one year high of $21.06. The firm has a 50-day moving average of $18.70 and a two-hundred day moving average of $18.14. The firm has a market capitalization of $695.26 million, a PE ratio of 10.02 and a beta of -0.03. 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 announced its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share (EPS) 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 10.49%. The company had revenue of $237.66 million for the quarter, compared to the consensus estimate of $214.12 million. On average, analysts forecast that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be 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 is Monday, November 2nd. Donegal Group’s dividend payout ratio is presently 41.18%.

Analysts Set New Price Targets

Several equities research 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. Zacks Research raised Donegal Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.00.

Institutional Trading of Donegal Group

Several hedge funds have recently added to or reduced their stakes in DGICA. Nisa Investment Advisors LLC raised its stake in Donegal Group by 214.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 4,016 shares during the last quarter. IFP Advisors Inc boosted its holdings in Donegal Group by 27.8% in the 2nd quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock valued at $174,000 after purchasing an additional 2,004 shares during the period. State of Wyoming bought a new stake in Donegal Group in the 3rd quarter valued at $177,000. Amundi acquired a new stake in Donegal Group in the 1st quarter worth $206,000. Finally, Allianz Asset Management GmbH acquired a new stake in Donegal Group in the 2nd quarter worth $220,000. Institutional investors own 27.96% of the company’s stock.

Donegal Group Company Profile

Donegal Group Inc (NASDAQ: DGICA) is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.

Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers’ compensation coverage, along with other specialized property and casualty policies.

Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.