Mutual Insurance Co Donegal Purchases 9,257 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 9,257 shares of Donegal Group stock in a transaction that occurred on Tuesday, September 1st. The shares were bought at an average cost of $19.17 per share, with a total value of $177,456.69. Following the transaction, the insider owned 14,272,971 shares in the company, valued at $273,612,854.07. This represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Major 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 Monday, August 31st, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.18 per share, for a total transaction of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $18.95 per share, for a total transaction of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal purchased 9,508 shares of Donegal Group stock. The shares were bought at an average price of $19.11 per share, with a total value of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.06 per share, with a total value of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $18.68 per share, for a total transaction of $186,800.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal acquired 9,815 shares of Donegal Group stock. The shares were purchased at an average cost of $18.66 per share, for a total transaction of $183,147.90.
• On Wednesday, August 19th, Mutual Insurance Co Donegal acquired 9,700 shares of Donegal Group stock. The shares were purchased at an average price of $18.61 per share, with a total value of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased 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 purchased 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 bought 9,682 shares of Donegal Group stock. The stock was purchased at an average price of $17.62 per share, for a total transaction of $170,596.84.

Donegal Group Trading Up 0.4%

NASDAQ:DGICA opened at $19.42 on Friday. The company’s 50 day moving average price is $18.97 and its 200-day moving average price is $17.91. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week 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 stock has a market cap of $720.87 million, a price-to-earnings ratio of 10.06 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA) last issued its 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 business had revenue of $241.12 million for the quarter, compared to the consensus estimate of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. On average, equities research analysts forecast that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.1925 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. Donegal Group’s dividend payout ratio (DPR) is 39.90%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 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 research note on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.00.

Institutional Trading of Donegal Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in shares of Donegal Group by 139.8% during the 1st quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock worth $774,000 after acquiring an additional 22,978 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Donegal Group by 7.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock worth $2,155,000 after purchasing an additional 8,004 shares during the period. Empowered Funds LLC raised its holdings in Donegal Group by 1.9% in the 1st quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock worth $1,802,000 after purchasing an additional 1,696 shares during the period. Jane Street Group LLC purchased a new position in Donegal Group during the first quarter valued at $689,000. Finally, Rhumbline Advisers lifted its position in Donegal Group by 22.3% during the second quarter. Rhumbline Advisers now owns 32,824 shares of the insurance provider’s stock valued at $657,000 after purchasing an additional 5,981 shares in the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.