Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 8,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were bought at an average price of $16.98 per share, with a total value of $144,330.00. Following the completion of the purchase, the insider owned 14,081,609 shares in the company, valued at $239,105,720.82. This trade represents a 0.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Tuesday, May 26th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.40 per share, for a total transaction of $147,900.00.
• On Wednesday, May 20th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.43 per share, for a total transaction of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal purchased 8,328 shares of Donegal Group stock. The stock was acquired at an average cost of $17.48 per share, for a total transaction of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired 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 acquired at an average cost of $17.16 per share, for a total transaction of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $16.86 per share, for a total transaction of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.18 per share, for a total transaction of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal purchased 8,077 shares of Donegal Group stock. The stock was acquired at an average cost of $17.13 per share, for a total transaction of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal purchased 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.

Donegal Group Stock Down 0.6%

NASDAQ DGICA opened at $16.97 on Friday. The stock’s 50 day moving average is $17.25 and its 200 day moving average is $18.44. 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 12 month low of $16.11 and a 12 month high of $21.06. The stock has a market cap of $628.74 million, a PE ratio of 9.48 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). The firm had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. Research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.1925 per share. The ex-dividend date was Friday, May 1st. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.5%. This is an increase from Donegal Group’s previous quarterly dividend of $0.18. Donegal Group’s dividend payout ratio is currently 43.02%.

Institutional Trading of Donegal Group

A number of hedge funds have recently added to or reduced their stakes in the business. Sierra Summit Advisors LLC bought a new stake in Donegal Group during the third quarter valued at about $799,000. Royce & Associates LP boosted its position in Donegal Group by 579.4% during the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock valued at $3,394,000 after purchasing an additional 144,853 shares in the last quarter. IFP Advisors Inc boosted its position in Donegal Group by 1,377.6% during the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 3,513 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Donegal Group during the fourth quarter valued at about $204,000. Finally, Strs Ohio boosted its position in Donegal Group by 3.7% during the fourth quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock valued at $565,000 after purchasing an additional 1,000 shares in the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DGICA has been the subject of a number of research reports. Keefe, Bruyette & Woods lowered their target price on Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, May 1st. Weiss Ratings downgraded Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.