Donegal Group (NASDAQ:DGICA) Stock: Insider Mutual Insurance Co Donegal Acquires 25,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 25,500 shares of Donegal Group stock in a transaction dated Thursday, November 5th. The stock was purchased at an average price of $18.86 per share, with a total value of $480,930.00. Following the completion of the purchase, the insider owned 14,427,628 shares in the company, valued at $272,105,064.08. This trade represents a 0.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available 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 Friday, November 6th, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The shares were purchased at an average cost of $18.74 per share, for a total transaction of $140,550.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The stock was bought at an average cost of $18.69 per share, for a total transaction of $140,175.00.
• On Friday, September 11th, Mutual Insurance Co Donegal acquired 54,725 shares of Donegal Group stock. The stock was bought at an average cost of $19.23 per share, for a total transaction of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal purchased 13,469 shares of Donegal Group stock. The stock was bought at an average cost of $19.13 per share, for a total transaction of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased 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 stock was purchased 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 purchased 6,368 shares of Donegal Group stock. The stock was acquired 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 purchased 9,595 shares of Donegal Group stock. The shares were acquired at an average price of $19.53 per share, for a total transaction of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.43 per share, with a total value of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal acquired 9,257 shares of Donegal Group stock. The stock was acquired at an average price of $19.17 per share, with a total value of $177,456.69.

Donegal Group Price Performance

Donegal Group stock opened at $18.73 on Monday. The firm has a 50 day simple moving average of $18.70 and a 200 day simple moving average of $18.14. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. Donegal Group, Inc. has a 1-year low of $16.11 and a 1-year high of $21.06. The firm has a market capitalization of $695.26 million, a price-to-earnings ratio of 10.02 and a beta of -0.03.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. Donegal Group had a return on equity of 10.49% and a net margin of 7.24%. The firm had revenue of $237.66 million for the quarter, compared to the consensus estimate of $214.12 million. On average, analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be paid a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, November 2nd. Donegal Group’s payout ratio is presently 41.18%.

Analyst Ratings Changes

Several research analysts have commented on the company. Zacks Research upgraded Donegal Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.00.

Institutional Trading of Donegal Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in Donegal Group by 214.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 4,016 shares during the period. IFP Advisors Inc grew its position in shares of Donegal Group by 27.8% during the 2nd quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock valued at $174,000 after purchasing an additional 2,004 shares in the last quarter. State of Wyoming purchased a new position in shares of Donegal Group during the 3rd quarter valued at $177,000. Amundi purchased a new position in shares of Donegal Group during the 1st quarter valued at $206,000. Finally, Allianz Asset Management GmbH bought a new position in shares of Donegal Group in the second quarter worth $220,000. Institutional investors own 27.96% of the company’s stock.

Donegal Group Company Profile

Donegal Group Inc (NASDAQ: DGICA) is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.

Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers’ compensation coverage, along with other specialized property and casualty policies.

Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.