Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 7,500 Shares of Company Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 7,500 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was purchased at an average cost of $18.81 per share, with a total value of $141,075.00. Following the completion of the transaction, the insider directly owned 14,442,628 shares of the company’s stock, valued at approximately $271,665,832.68. The trade was a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 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 Wednesday, November 11th, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The stock was purchased at an average cost of $18.88 per share, with a total value of $141,600.00.
• On Friday, November 6th, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The stock was purchased at an average cost of $18.74 per share, with a total value of $140,550.00.
• On Thursday, November 5th, Mutual Insurance Co Donegal acquired 25,500 shares of Donegal Group stock. The stock was purchased at an average price of $18.86 per share, for a total transaction of $480,930.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal bought 7,500 shares of Donegal Group stock. The shares were acquired at an average price of $18.69 per share, with a total value of $140,175.00.
• On Friday, September 11th, Mutual Insurance Co Donegal bought 54,725 shares of Donegal Group stock. The shares were acquired at an average cost of $19.23 per share, for a total transaction of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal acquired 13,469 shares of Donegal Group stock. The shares were 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 acquired 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 purchased 10,000 shares of Donegal Group stock. The stock was purchased 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 purchased 6,368 shares of Donegal Group stock. The stock was purchased at an average cost of $19.39 per share, for a total transaction of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal acquired 9,595 shares of Donegal Group stock. The shares were purchased at an average cost of $19.53 per share, with a total value of $187,390.35.

Donegal Group Stock Performance

NASDAQ DGICA opened at $18.95 on Thursday. Donegal Group, Inc. has a 1 year low of $16.11 and a 1 year high of $21.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.40 and a quick ratio of 0.39. The stock has a market capitalization of $703.42 million, a PE ratio of 10.13 and a beta of -0.03. The company’s 50 day simple moving average is $18.68 and its two-hundred day simple moving average is $18.15.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. Donegal Group had a net margin of 7.24% and a return on equity of 10.45%. The firm had revenue of $237.66 million for the quarter, compared to analysts’ expectations of $214.12 million. Analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, November 2nd. Donegal Group’s payout ratio is presently 41.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Zacks Research upgraded Donegal Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Institutional Investors Weigh In On Donegal Group

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Donegal Group by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock valued at $29,846,000 after buying an additional 7,345 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Donegal Group by 5.8% during the 1st quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock valued at $6,747,000 after buying an additional 21,500 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings 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 purchasing an additional 80,614 shares during the period. Bank of New York Mellon Corp lifted its holdings in Donegal Group by 5.8% in the 1st quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock worth $2,862,000 after buying an additional 9,075 shares during the period. Finally, Pinnacle Associates Ltd. boosted its holdings in Donegal Group by 3.5% in the third quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider’s stock valued at $1,710,000 after acquiring an additional 3,264 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Donegal Group Company Profile

Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.