Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 10,000 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average cost of $16.62 per share, for a total transaction of $166,200.00. Following the completion of the acquisition, the insider directly owned 14,117,109 shares in the company, valued at approximately $234,626,351.58. The trade was a 0.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major 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 Monday, June 1st, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought 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 purchased 8,500 shares of Donegal Group stock. The stock was bought at an average cost 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 bought 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 bought 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 acquired 8,500 shares of Donegal Group stock. The shares were 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 acquired 8,328 shares of Donegal Group stock. The shares were 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 acquired 8,500 shares of Donegal Group stock. The shares were 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 acquired 8,500 shares of Donegal Group stock. The shares were 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 acquired 8,500 shares of Donegal Group stock. The shares were 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 acquired 8,500 shares of Donegal Group stock. The shares were acquired at an average cost of $17.18 per share, for a total transaction of $146,030.00.

Donegal Group Trading Up 1.1%

Shares of DGICA opened at $16.72 on Friday. The business’s 50-day moving average price is $17.23 and its 200-day moving average price is $18.35. Donegal Group, Inc. has a twelve month low of $16.11 and a twelve month high of $21.06. The stock has a market cap of $619.55 million, a PE ratio of 9.34 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.

Donegal Group (NASDAQ:DGICA) last announced 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). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The company had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million. On average, equities analysts forecast that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Increases Dividend

The business also recently declared 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. This is a boost from Donegal Group’s previous quarterly dividend of $0.18. This represents a $0.77 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio (DPR) is currently 43.02%.

Wall Street Analysts Forecast Growth

DGICA has been the topic of several research analyst reports. Weiss Ratings cut shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods decreased their price objective on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.00.

Institutional Trading of Donegal Group

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

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.