Mutual Insurance Co Donegal Buys 9,815 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 9,815 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were acquired at an average cost of $18.66 per share, with a total value of $183,147.90. Following the completion of the purchase, the insider directly owned 14,194,206 shares in the company, valued at approximately $264,863,883.96. This represents a 0.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more 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 19th, Mutual Insurance Co Donegal acquired 9,700 shares of Donegal Group stock. The stock was 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 bought 10,000 shares of Donegal Group stock. The shares were acquired at an average price 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 stock was acquired at an average cost 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.
• On Thursday, June 11th, Mutual Insurance Co Donegal purchased 9,900 shares of Donegal Group stock. The shares were acquired at an average cost of $17.56 per share, for a total transaction of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $16.62 per share, with a total value of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $16.76 per share, with a total value of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was bought at an average price of $16.98 per share, with a total value of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was bought at an average cost of $17.33 per share, for a total transaction of $147,305.00.

Donegal Group Stock Performance

DGICA opened at $18.67 on Friday. Donegal Group, Inc. has a 52-week low of $16.11 and a 52-week high of $21.06. The firm has a market capitalization of $1.23 billion, a PE ratio of 9.67 and a beta of -0.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The business’s 50-day simple moving average is $18.71 and its 200 day simple moving average is $17.90.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.42 by $0.11. The firm had revenue of $241.12 million during the quarter, compared to analysts’ expectations of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. As a group, sell-side analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a dividend of $0.1925 per share. The ex-dividend date was Friday, July 31st. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.1%. Donegal Group’s dividend payout ratio is currently 39.90%.

Institutional Trading of Donegal Group

Several institutional investors and hedge funds have recently bought and sold shares of DGICA. Smartleaf Asset Management LLC boosted its stake in shares of Donegal Group by 576.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 2,341 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after acquiring an additional 2,975 shares during the last quarter. IFP Advisors Inc raised its stake in Donegal Group by 1,377.6% in the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock valued at $75,000 after acquiring an additional 3,513 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Donegal Group by 31.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after acquiring an additional 896 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Donegal Group by 443.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after acquiring an additional 4,022 shares during the period. Institutional investors own 27.96% of the company’s stock.

Wall Street Analyst Weigh In

DGICA has been the subject of several analyst reports. Weiss Ratings raised shares of Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods upped 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. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Donegal Group has an average rating of “Moderate Buy” and a consensus 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.