Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 9,700 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 9,700 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were bought at an average cost of $18.61 per share, for a total transaction of $180,517.00. Following the transaction, the insider directly owned 14,184,391 shares in the company, valued at approximately $263,971,516.51. This represents a 0.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% 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 20th, Mutual Insurance Co Donegal purchased 9,815 shares of Donegal Group stock. The stock was bought at an average cost of $18.66 per share, with a total value of $183,147.90.
• On Monday, August 17th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $18.52 per share, for a total transaction of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal bought 18,000 shares of Donegal Group stock. The stock was bought 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 bought 9,682 shares of Donegal Group stock. The stock was purchased at an average price of $17.62 per share, with a total value of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal purchased 9,900 shares of Donegal Group stock. The shares were purchased at an average cost of $17.56 per share, with a total value of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $16.62 per share, for a total transaction of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was 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 acquired 8,500 shares of Donegal Group stock. The shares were purchased 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 shares were purchased at an average cost of $17.33 per share, with a total value of $147,305.00.

Donegal Group Price Performance

Shares of DGICA opened at $18.67 on Friday. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 9.67 and a beta of -0.01. Donegal Group, Inc. has a twelve month low of $16.11 and a twelve month high of $21.06. 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 company has a 50 day moving average of $18.71 and a two-hundred day moving average of $17.90.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results 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. The business had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. As a group, analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

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

Institutional Trading of Donegal Group

Several large investors have recently added to or reduced their stakes in DGICA. CANADA LIFE ASSURANCE Co raised its stake in shares of 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 purchasing an additional 896 shares during the last quarter. Strs Ohio boosted its position in Donegal Group by 3.7% in the fourth quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock valued at $565,000 after buying an additional 1,000 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Donegal Group by 8.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock worth $237,000 after buying an additional 1,000 shares during the period. Qube Research & Technologies Ltd increased its holdings in 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 buying an additional 1,274 shares during the period. Finally, Mariner LLC raised its position in Donegal Group by 9.9% during the 4th quarter. Mariner LLC now owns 14,874 shares of the insurance provider’s stock worth $297,000 after buying an additional 1,342 shares during the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on DGICA shares. Weiss Ratings upgraded Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their price target on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.