Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases 6,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 6,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were acquired at an average price of $15.02 per share, for a total transaction of $90,120.00. Following the transaction, the insider now directly owns 12,247,299 shares of the company’s stock, valued at approximately $183,954,430.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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 26th, Mutual Insurance Co Donegal purchased 9,996 shares of Donegal Group stock. The stock was purchased at an average cost of $14.97 per share, with a total value of $149,640.12.
• On Friday, August 23rd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average cost of $14.93 per share, for a total transaction of $149,300.00.
• On Wednesday, August 21st, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $14.76 per share, with a total value of $125,460.00.
• On Monday, August 19th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $14.75 per share, with a total value of $147,500.00.
• On Friday, August 16th, Mutual Insurance Co Donegal bought 9,800 shares of Donegal Group stock. The shares were acquired at an average price of $14.78 per share, for a total transaction of $144,844.00.
• On Wednesday, August 14th, Mutual Insurance Co Donegal bought 8,800 shares of Donegal Group stock. The shares were acquired at an average price of $14.56 per share, with a total value of $128,128.00.
• On Monday, August 12th, Mutual Insurance Co Donegal acquired 4,956 shares of Donegal Group stock. The shares were bought at an average price of $14.15 per share, with a total value of $70,127.40.
• On Friday, August 9th, Mutual Insurance Co Donegal purchased 3,848 shares of Donegal Group stock. The shares were purchased at an average price of $14.13 per share, with a total value of $54,372.24.
• On Wednesday, August 7th, Mutual Insurance Co Donegal bought 6,933 shares of Donegal Group stock. The stock was purchased at an average cost of $14.13 per share, with a total value of $97,963.29.
• On Monday, August 5th, Mutual Insurance Co Donegal purchased 8,951 shares of Donegal Group stock. The shares were acquired at an average cost of $13.50 per share, for a total transaction of $120,838.50.

Donegal Group Trading Down 0.4 %

Donegal Group stock traded down $0.06 during trading on Friday, hitting $15.14. The company’s stock had a trading volume of 14,704 shares, compared to its average volume of 55,346. The stock’s fifty day moving average is $13.85 and its 200 day moving average is $13.69. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $15.30. The stock has a market capitalization of $505.57 million, a price-to-earnings ratio of 94.81 and a beta of -0.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The firm had revenue of $246.77 million during the quarter, compared to the consensus estimate of $243.00 million. Donegal Group had a return on equity of 0.90% and a net margin of 0.76%. As a group, equities research analysts predict that Donegal Group Inc. will post 0.35 EPS for the current year.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.172 per share. The ex-dividend date was Thursday, August 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.54%. Donegal Group’s payout ratio is 431.25%.

Institutional Investors Weigh In On Donegal Group

A number of large investors have recently modified their holdings of DGICA. Dimensional Fund Advisors LP lifted its position in shares of Donegal Group by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,825,664 shares of the insurance provider’s stock worth $25,541,000 after buying an additional 53,632 shares during the last quarter. Vanguard Group Inc. boosted its position in Donegal Group by 34.7% during the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after acquiring an additional 304,477 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Donegal Group by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock worth $1,669,000 after acquiring an additional 5,416 shares during the last quarter. Empowered Funds LLC increased its position in Donegal Group by 8.2% in the 1st quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock worth $1,573,000 after purchasing an additional 8,400 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Donegal Group by 30.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock valued at $1,072,000 after purchasing an additional 17,614 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.