Mutual Insurance Co Donegal Purchases 13,469 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 13,469 shares of the stock in a transaction dated Wednesday, September 9th. The stock was acquired at an average cost of $19.13 per share, with a total value of $257,661.97. Following the completion of the transaction, the insider owned 14,322,403 shares in the company, valued at approximately $273,987,569.39. This represents a 0.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Major 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, September 10th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.13 per share, for a total transaction of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average price of $19.14 per share, for a total transaction of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal acquired 6,368 shares of Donegal Group stock. The shares were bought at an average cost of $19.39 per share, for a total transaction of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal bought 9,595 shares of Donegal Group stock. The stock was purchased at an average cost of $19.53 per share, with a total value of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.43 per share, for a total transaction of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal acquired 9,257 shares of Donegal Group stock. The stock was purchased at an average cost of $19.17 per share, with a total value of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average price of $19.18 per share, with a total value of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were purchased 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 bought 9,508 shares of Donegal Group stock. The stock was purchased at an average price of $19.11 per share, for a total transaction of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.06 per share, with a total value of $190,600.00.

Donegal Group Stock Down 0.2%

DGICA stock traded down $0.04 during midday trading on Friday, reaching $19.22. 11,578 shares of the company’s stock traded hands, compared to its average volume of 125,434. 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 firm’s fifty day moving average price is $19.00 and its 200-day moving average price is $17.95. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The company has a market cap of $713.34 million, a price-to-earnings ratio of 9.95 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. The firm 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, sell-side analysts forecast that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

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

Analyst Upgrades and Downgrades

DGICA has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.00.

Institutional Investors Weigh In On Donegal Group

Institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its holdings in shares of Donegal Group by 579.4% in the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after buying an additional 144,853 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Donegal Group by 41.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock worth $4,746,000 after buying an additional 80,614 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Donegal Group by 145.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 67,726 shares of the insurance provider’s stock worth $1,245,000 after acquiring an additional 40,078 shares during the period. Dimensional Fund Advisors LP raised its position in 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 worth $29,846,000 after acquiring an additional 7,345 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Donegal Group by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock valued at $2,862,000 after acquiring an additional 9,075 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

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.