Donegal Group (NASDAQ:DGICA) Major Shareholder Acquires $177,456.69 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 9,257 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were purchased at an average price of $19.17 per share, for a total transaction of $177,456.69. Following the completion of the acquisition, the insider owned 14,272,971 shares of the company’s stock, valued at $273,612,854.07. The trade was a 0.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large 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 Monday, August 31st, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.18 per share, with a total value 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 price of $18.95 per share, for a total transaction of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal acquired 9,508 shares of Donegal Group stock. The shares were purchased at an average price of $19.11 per share, for a total transaction of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased 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 bought 10,000 shares of Donegal Group stock. The stock was purchased at an average price 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 acquired 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 purchased 9,700 shares of Donegal Group stock. The shares were acquired 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 acquired at an average cost of $18.52 per share, with a total value of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal bought 18,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.67 per share, with a total value of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal purchased 9,682 shares of Donegal Group stock. The stock was acquired at an average price of $17.62 per share, for a total transaction of $170,596.84.

Donegal Group Trading Up 0.3%

Shares of Donegal Group stock opened at $19.17 on Wednesday. The business has a fifty day simple moving average of $18.92 and a two-hundred day simple moving average of $17.90. Donegal Group, Inc. has a 1 year low of $16.11 and a 1 year high of $21.06. The company has a market capitalization of $711.57 million, a price-to-earnings ratio of 9.93 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 issued its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.11. The company had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. Research analysts forecast that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.1925 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. Donegal Group’s payout ratio is currently 39.90%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Keefe, Bruyette & Woods boosted their price target on shares of Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Donegal Group currently has an average rating of “Hold” and an average target price of $20.00.

Institutional Investors Weigh In On Donegal Group

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in Donegal Group by 0.4% in the first 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 during the period. Vanguard Group Inc. lifted its position in shares of Donegal Group by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider’s stock valued at $19,549,000 after acquiring an additional 39,181 shares during the period. Geode Capital Management LLC boosted its stake in Donegal Group by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 534,703 shares of the insurance provider’s stock worth $10,685,000 after acquiring an additional 11,891 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Donegal Group by 5.8% in the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock worth $6,747,000 after purchasing an additional 21,500 shares during the period. Finally, State Street Corp raised its holdings in shares of Donegal Group by 0.8% during the fourth quarter. State Street Corp now owns 391,729 shares of the insurance provider’s stock valued at $7,827,000 after purchasing an additional 3,290 shares during the period. 27.96% of the stock is currently owned by institutional investors.

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.