Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 7,500 Shares of Company Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 11th. The stock was bought at an average price of $18.88 per share, for a total transaction of $141,600.00. Following the purchase, the insider directly owned 14,457,628 shares in the company, valued at $272,960,016.64. The trade was a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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, November 9th, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The shares were bought at an average cost of $18.81 per share, with a total value of $141,075.00.
• On Friday, November 6th, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The shares were bought at an average price of $18.74 per share, with a total value of $140,550.00.
• On Thursday, November 5th, Mutual Insurance Co Donegal acquired 25,500 shares of Donegal Group stock. The shares were bought at an average price of $18.86 per share, with a total value of $480,930.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal bought 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 bought 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 shares were bought at an average price of $19.13 per share, with a total value of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.13 per share, with a total value of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal purchased 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 purchased at an average price of $19.39 per share, for a total transaction of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal acquired 9,595 shares of Donegal Group stock. The shares were purchased at an average cost of $19.53 per share, for a total transaction of $187,390.35.

Donegal Group Stock Up 0.1%

NASDAQ:DGICA opened at $18.96 on Friday. The firm has a market cap of $703.80 million, a P/E ratio of 10.24 and a beta of -0.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.40. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The firm has a 50-day simple moving average of $18.67 and a two-hundred day simple moving average of $18.15.

Donegal Group (NASDAQ:DGICA) last issued 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 net margin of 7.24% and a return on equity of 10.45%. The business had revenue of $237.66 million during the quarter, compared to analysts’ expectations of $214.12 million. Analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a dividend of $0.1925 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.77 annualized dividend and a dividend yield of 4.1%. Donegal Group’s dividend payout ratio (DPR) is 41.18%.

Institutional Investors Weigh In On Donegal Group

Several large investors have recently bought and sold shares of DGICA. Arrowstreet Capital Limited Partnership lifted its stake in Donegal Group by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after acquiring an additional 80,614 shares during the period. Renaissance Technologies LLC grew its stake in shares of Donegal Group by 5.8% in the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock worth $6,747,000 after acquiring an additional 21,500 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Donegal Group in the second quarter worth approximately $344,000. First Trust Advisors LP raised its holdings in shares of Donegal Group by 31.7% during the third quarter. First Trust Advisors LP now owns 74,434 shares of the insurance provider’s stock valued at $1,324,000 after purchasing an additional 17,915 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new position in shares of Donegal Group during the second quarter valued at approximately $273,000. 27.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DGICA has been the topic of several analyst reports. Zacks Research raised Donegal Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 16th. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.00.

About Donegal Group

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.