Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases $250,782.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 14,700 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $17.06 per share, for a total transaction of $250,782.00. Following the transaction, the insider now owns 13,189,273 shares of the company’s stock, valued at $225,008,997.38. This trade represents a 0.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Monday, March 3rd, Mutual Insurance Co Donegal purchased 15,000 shares of Donegal Group stock. The shares were acquired at an average cost of $17.85 per share, for a total transaction of $267,750.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal purchased 12,000 shares of Donegal Group stock. The shares were acquired at an average cost of $16.49 per share, for a total transaction of $197,880.00.
• On Friday, December 13th, Mutual Insurance Co Donegal purchased 7,817 shares of Donegal Group stock. The shares were acquired at an average cost of $16.29 per share, for a total transaction of $127,338.93.
• On Wednesday, December 11th, Mutual Insurance Co Donegal bought 8,729 shares of Donegal Group stock. The stock was purchased at an average cost of $16.37 per share, for a total transaction of $142,893.73.
• On Monday, December 9th, Mutual Insurance Co Donegal bought 70,000 shares of Donegal Group stock. The stock was purchased at an average cost of $16.61 per share, for a total transaction of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal bought 270,000 shares of Donegal Group stock. The stock was purchased at an average cost of $16.66 per share, for a total transaction of $4,498,200.00.
• On Wednesday, December 4th, Mutual Insurance Co Donegal bought 9,522 shares of Donegal Group stock. The stock was purchased at an average cost of $16.54 per share, for a total transaction of $157,493.88.

Donegal Group Stock Up 0.7 %

Shares of Donegal Group stock opened at $17.94 on Thursday. The business’s 50 day simple moving average is $15.32 and its 200 day simple moving average is $15.35. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $18.19. The firm has a market cap of $608.09 million, a PE ratio of 11.80 and a beta of -0.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.39. The business had revenue of $249.70 million for the quarter, compared to analyst estimates of $250.61 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. On average, analysts predict that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were given a dividend of $0.1725 per share. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 4th. This represents a $0.69 annualized dividend and a dividend yield of 3.85%. Donegal Group’s payout ratio is 45.39%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Donegal Group by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,804,968 shares of the insurance provider’s stock worth $27,923,000 after purchasing an additional 27,213 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Donegal Group by 29.5% during the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock worth $6,638,000 after acquiring an additional 97,795 shares during the period. Geode Capital Management LLC boosted its stake in shares of Donegal Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock worth $5,371,000 after acquiring an additional 4,933 shares during the period. Foundry Partners LLC boosted its stake in shares of Donegal Group by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock worth $3,605,000 after acquiring an additional 2,310 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Donegal Group by 124.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider’s stock worth $3,647,000 after acquiring an additional 130,489 shares during the period. Institutional investors and hedge funds own 27.96% of the company’s stock.

Donegal Group Company Profile

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.