Mutual Insurance Co Donegal Acquires 8,500 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $17.43 per share, for a total transaction of $148,155.00. Following the completion of the transaction, the insider directly owned 14,039,109 shares in the company, valued at approximately $244,701,669.87. The trade was a 0.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Tuesday, May 19th, Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group stock. The shares were purchased at an average price of $17.48 per share, with a total value of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.16 per share, for a total transaction of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.86 per share, with a total value of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.18 per share, with a total value of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal bought 8,077 shares of Donegal Group stock. The shares were acquired at an average price of $17.13 per share, for a total transaction of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.06 per share, for a total transaction of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $16.50 per share, with a total value of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal purchased 9,000 shares of Donegal Group stock. The shares were acquired at an average price of $17.63 per share, with a total value of $158,670.00.

Donegal Group Trading Up 0.7%

DGICA opened at $17.56 on Friday. The firm has a 50 day simple moving average of $17.22 and a 200 day simple moving average of $18.51. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The company has a market cap of $650.60 million, a price-to-earnings ratio of 9.81 and a beta of 0.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The business had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million. On average, sell-side analysts anticipate that Donegal Group, Inc. will post 1.7 earnings per share for the current year.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $0.1925 dividend. The ex-dividend date was Friday, May 1st. This represents a $0.77 annualized dividend and a dividend yield of 4.4%. This is an increase from Donegal Group’s previous quarterly dividend of $0.18. Donegal Group’s dividend payout ratio is 43.02%.

Institutional Investors Weigh In On Donegal Group

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of Donegal Group by 139.8% in the 1st quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock valued at $774,000 after buying an additional 22,978 shares during the period. Goldman Sachs Group Inc. raised its stake in Donegal Group by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock worth $2,155,000 after buying an additional 8,004 shares during the period. Empowered Funds LLC raised its stake in Donegal Group by 1.9% during the 1st quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock worth $1,802,000 after buying an additional 1,696 shares during the period. Jane Street Group LLC bought a new position in Donegal Group during the first quarter worth about $689,000. Finally, Rhumbline Advisers lifted its holdings in Donegal Group by 22.3% during the second quarter. Rhumbline Advisers now owns 32,824 shares of the insurance provider’s stock worth $657,000 after acquiring an additional 5,981 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DGICA shares. Keefe, Bruyette & Woods dropped their price objective on Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, May 1st. Weiss Ratings cut Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Donegal Group has an average rating of “Hold” and a consensus target price of $18.00.

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.