Mutual Insurance Co Donegal Acquires 8,500 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $17.16 per share, with a total value of $145,860.00. Following the completion of the purchase, the insider owned 14,013,781 shares in the company, valued at approximately $240,476,481.96. The trade was a 0.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, May 20th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.43 per share, with a total value of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group stock. The shares were acquired at an average price of $17.48 per share, with a total value of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.33 per share, with a total value of $147,305.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were bought 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 shares were bought 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 shares were bought 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 shares were bought at an average cost of $17.06 per share, for a total transaction of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $16.50 per share, for a total transaction of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal purchased 9,000 shares of Donegal Group stock. The shares were bought at an average cost of $17.63 per share, for a total transaction of $158,670.00.

Donegal Group Stock Performance

Shares of DGICA stock opened at $17.44 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. Donegal Group, Inc. has a one year low of $16.11 and a one year high of $21.06. The company’s 50-day simple moving average is $17.20 and its 200-day simple moving average is $18.52. The stock has a market capitalization of $646.15 million, a price-to-earnings ratio of 9.74 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The company had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million. Equities analysts anticipate that Donegal Group, Inc. will post 1.7 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 4.4%. This is a boost from Donegal Group’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio (DPR) is 43.02%.

Hedge Funds Weigh In On Donegal Group

A number of large investors have recently bought and sold shares of DGICA. Sierra Summit Advisors LLC bought a new stake in shares of Donegal Group during the third quarter valued at approximately $799,000. TrueMark Investments LLC bought a new stake in shares of Donegal Group during the fourth quarter valued at approximately $291,000. Wealth Enhancement Advisory Services LLC increased its position in Donegal Group by 18.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,160 shares of the insurance provider’s stock valued at $415,000 after acquiring an additional 3,301 shares during the period. Royce & Associates LP acquired a new stake in Donegal Group in the 3rd quarter valued at approximately $485,000. Finally, IAG Wealth Partners LLC acquired a new stake in Donegal Group in the 3rd quarter valued at approximately $192,000. Institutional investors own 27.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DGICA. Keefe, Bruyette & Woods reduced their price objective on Donegal Group from $19.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, May 1st. Weiss Ratings cut Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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.