Mutual Insurance Co Donegal Acquires 8,328 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,328 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $17.48 per share, with a total value of $145,573.44. Following the completion of the purchase, the insider owned 14,030,609 shares of the company’s stock, valued at $245,255,045.32. This trade represents a 0.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large 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 Wednesday, May 20th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was bought at an average cost of $17.43 per share, for a total transaction of $148,155.00.
• On Monday, May 18th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.16 per share, for a total transaction of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $16.86 per share, for a total transaction of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average price of $17.18 per share, for a total transaction of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal purchased 8,077 shares of Donegal Group stock. The shares were bought at an average price of $17.13 per share, for a total transaction of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.06 per share, for a total transaction of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.50 per share, with a total value of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal purchased 9,000 shares of Donegal Group stock. The stock was acquired at an average cost of $17.63 per share, with a total value of $158,670.00.

Donegal Group Stock Up 0.7%

DGICA stock opened at $17.56 on Friday. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The firm has a 50 day simple moving average of $17.22 and a 200 day simple moving average of $18.51. The firm has a market cap of $650.60 million, a PE ratio of 9.81 and a beta of 0.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.08). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The company had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million. Equities research analysts forecast that Donegal Group, Inc. will post 1.7 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a $0.1925 dividend. This is a boost from Donegal Group’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 1st. This represents a $0.77 annualized dividend and a dividend yield of 4.4%. Donegal Group’s payout ratio is currently 43.02%.

Analyst Ratings Changes

DGICA has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, May 1st. Weiss Ratings downgraded Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.00.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its holdings in shares of Donegal Group by 31.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after purchasing an additional 896 shares in the last quarter. Strs Ohio grew its holdings in shares of Donegal Group by 3.7% in the 4th quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock worth $565,000 after purchasing an additional 1,000 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Donegal Group by 8.9% during the third quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock worth $237,000 after buying an additional 1,000 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in Donegal Group by 1.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider’s stock valued at $2,576,000 after purchasing an additional 1,274 shares in the last quarter. Finally, Mariner LLC increased its stake in shares of Donegal Group by 9.9% in the fourth quarter. Mariner LLC now owns 14,874 shares of the insurance provider’s stock valued at $297,000 after buying an additional 1,342 shares in the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

Donegal Group Company Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.