Donegal Group (NASDAQ:DGICA) Major Shareholder Buys $173,844.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 9,900 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $17.56 per share, for a total transaction of $173,844.00. Following the completion of the transaction, the insider owned 14,127,009 shares of the company’s stock, valued at approximately $248,070,278.04. This trade represents a 0.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more 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 Friday, June 12th, Mutual Insurance Co Donegal purchased 9,682 shares of Donegal Group stock. The stock was purchased at an average cost of $17.62 per share, for a total transaction of $170,596.84.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $16.62 per share, with a total value of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $16.76 per share, for a total transaction of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.98 per share, for a total transaction of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.33 per share, with a total value of $147,305.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.40 per share, with a total value of $147,900.00.
• On Wednesday, May 20th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was purchased 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 acquired 8,328 shares of Donegal Group stock. The stock was acquired at an average price of $17.48 per share, for a total transaction of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were acquired at an average cost of $17.33 per share, with a total value of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.16 per share, with a total value of $145,860.00.

Donegal Group Price Performance

Donegal Group stock opened at $17.61 on Monday. The stock has a market cap of $652.45 million, a price-to-earnings ratio of 9.84 and a beta of 0.01. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $17.26 and a 200 day simple moving average of $18.25. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.08). The business had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. On average, research analysts forecast that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

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

Hedge Funds Weigh In On Donegal Group

A number of large investors have recently modified their holdings of DGICA. CANADA LIFE ASSURANCE Co boosted its stake in Donegal Group by 31.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after buying an additional 896 shares in the last quarter. Strs Ohio raised its stake in shares of 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 in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Donegal Group by 8.9% during 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 lifted its holdings in shares of Donegal Group by 1.0% in the 3rd 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 during the last quarter. Finally, Mariner LLC boosted its stake in shares of 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 purchasing an additional 1,342 shares in the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Friday, May 1st. Weiss Ratings downgraded shares of 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Donegal Group 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.