Donegal Group (NASDAQ:DGICA) Stock: Insider Mutual Insurance Co Donegal Buys 7,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA – Get Free Report) major shareholder Mutual Insurance Co Donegal bought 7,500 shares of the stock in a transaction dated Friday, November 6th. The stock was purchased at an average price of $18.74 per share, with a total value of $140,550.00. Following the purchase, the insider owned 14,435,128 shares in the company, valued at $270,514,298.72. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% 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 Thursday, November 5th, Mutual Insurance Co Donegal purchased 25,500 shares of Donegal Group stock. The shares were purchased at an average price of $18.86 per share, for a total transaction of $480,930.00.
  • On Tuesday, November 3rd, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The stock was purchased 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 purchased at an average price of $19.23 per share, with a total value of $1,052,361.75.
  • On Wednesday, September 9th, Mutual Insurance Co Donegal bought 13,469 shares of Donegal Group stock. The shares were acquired at an average price 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 acquired at an average cost of $19.13 per share, for a total transaction of $191,300.00.
  • On Tuesday, September 8th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was acquired at an average cost 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 price of $19.39 per share, with a total value 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 cost of $19.53 per share, with a total value 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 price of $19.43 per share, for a total transaction of $194,300.00.
  • On Tuesday, September 1st, Mutual Insurance Co Donegal bought 9,257 shares of Donegal Group stock. The shares were acquired at an average price of $19.17 per share, with a total value of $177,456.69.

Donegal Group Stock Performance

Shares of DGICA opened at $18.97 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.40 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average price is $18.68 and its 200-day moving average price is $18.14. 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 $1.25 billion, a P/E ratio of 10.12 and a beta of -0.03.

Donegal Group (NASDAQ:DGICA – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. Donegal Group had a return on equity of 10.45% and a net margin of 7.24%. The company had revenue of $237.66 million for the quarter, compared to the consensus estimate of $214.12 million. Equities research analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be issued a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, November 2nd. Donegal Group’s payout ratio is 41.18%.

Hedge Funds Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently bought and sold shares of DGICA. Dimensional Fund Advisors LP boosted its holdings in shares of Donegal Group by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock valued at $29,846,000 after acquiring an additional 7,345 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Donegal Group by 5.8% during 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 last quarter. Arrowstreet Capital Limited Partnership lifted its position 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 valued at $4,746,000 after purchasing an additional 80,614 shares during the period. Bank of New York Mellon Corp boosted its holdings 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 worth $2,862,000 after purchasing an additional 9,075 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its position in Donegal Group by 3.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider’s stock worth $1,710,000 after purchasing an additional 3,264 shares during the period. Institutional investors own 27.96% of the company’s stock.

Analysts Set New Price Targets

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

Check Out Our Latest Research Report on Donegal Group

Donegal Group Company Profile

(Get Free Report)

Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.

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