Mutual Insurance Co Donegal Acquires 10,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was bought at an average cost of $18.95 per share, for a total transaction of $189,500.00. Following the acquisition, the insider owned 14,243,714 shares in the company, valued at approximately $269,918,380.30. The trade was a 0.07% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, August 26th, Mutual Insurance Co Donegal acquired 9,508 shares of Donegal Group stock. The shares were 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 bought 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.06 per share, for a total transaction of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased 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 purchased at an average price of $18.66 per share, with a total value of $183,147.90.
• On Wednesday, August 19th, Mutual Insurance Co Donegal acquired 9,700 shares of Donegal Group stock. The stock was purchased at an average cost of $18.61 per share, for a total transaction of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $18.52 per share, for a total transaction of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal acquired 18,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.67 per share, for a total transaction of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal bought 9,682 shares of Donegal Group stock. The shares were purchased at an average cost of $17.62 per share, with a total value of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal bought 9,900 shares of Donegal Group stock. The stock was purchased at an average price of $17.56 per share, with a total value of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $16.62 per share, for a total transaction of $166,200.00.

Donegal Group Stock Performance

DGICA opened at $19.17 on Wednesday. The business’s 50 day moving average is $18.92 and its 200-day moving average is $17.90. The stock has a market cap of $711.57 million, a PE ratio of 9.93 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, Inc. has a twelve month low of $16.11 and a twelve month high of $21.06.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (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 analyst estimates of $231.53 million. On average, analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s dividend payout ratio (DPR) is 39.90%.

Hedge Funds Weigh In On Donegal Group

Hedge funds have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Donegal Group by 31.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after buying an additional 896 shares during the period. Strs Ohio grew its holdings in Donegal Group by 3.7% during the fourth quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock worth $565,000 after acquiring an additional 1,000 shares during the period. Public Employees Retirement System of Ohio raised its position in Donegal Group by 8.9% in the third quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock worth $237,000 after acquiring an additional 1,000 shares in the last quarter. Qube Research & Technologies Ltd raised its position in Donegal Group by 1.0% in the third quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider’s stock worth $2,576,000 after acquiring an additional 1,274 shares in the last quarter. Finally, Mariner LLC lifted its holdings in Donegal Group by 9.9% in the 4th quarter. Mariner LLC now owns 14,874 shares of the insurance provider’s stock valued at $297,000 after acquiring an additional 1,342 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DGICA shares. Keefe, Bruyette & Woods upped their price objective on shares of Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.00.

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.