Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases 10,000 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was purchased at an average price of $18.52 per share, with a total value of $185,200.00. Following the transaction, the insider owned 14,164,691 shares of the company’s stock, valued at approximately $262,330,077.32. This trade represents a 0.07% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Major 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 Thursday, August 6th, Mutual Insurance Co Donegal bought 18,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.67 per share, for a total transaction 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 cost of $17.62 per share, with a total value of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal bought 9,900 shares of Donegal Group stock. The shares were acquired at an average price of $17.56 per share, for a total transaction of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was bought 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 acquired 8,500 shares of Donegal Group stock. The shares were 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 shares were bought 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 bought 8,500 shares of Donegal Group stock. The stock was bought at an average price of $17.33 per share, with a total value of $147,305.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.40 per share, for a total transaction of $147,900.00.

Donegal Group Stock Up 0.0%

Shares of NASDAQ DGICA traded up $0.01 during mid-day trading on Wednesday, reaching $18.61. The company had a trading volume of 18,954 shares, compared to its average volume of 125,535. Donegal Group, Inc. has a 52-week low of $16.11 and a 52-week high of $21.06. The stock has a market cap of $1.23 billion, a P/E ratio of 9.65 and a beta of -0.01. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $18.64 and a two-hundred day simple moving average of $17.89.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.11. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The company had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Sell-side analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on DGICA shares. Weiss Ratings upgraded 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 raised their price target on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Donegal Group has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Institutional Investors Weigh In On Donegal Group

Several institutional investors have recently modified their holdings of DGICA. Dimensional Fund Advisors LP grew its position in shares of Donegal Group by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock valued at $29,846,000 after purchasing an additional 7,345 shares during the last quarter. Vanguard Group Inc. raised its stake in Donegal Group by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider’s stock valued at $19,549,000 after purchasing an additional 39,181 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Donegal Group by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 534,703 shares of the insurance provider’s stock worth $10,685,000 after purchasing an additional 11,891 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Donegal Group by 5.8% in the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock valued at $6,747,000 after purchasing an additional 21,500 shares during the period. Finally, State Street Corp increased its holdings in Donegal Group by 0.8% in the 4th quarter. State Street Corp now owns 391,729 shares of the insurance provider’s stock valued at $7,827,000 after purchasing an additional 3,290 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

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.