Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 10,000 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of the company’s stock in a transaction on Monday, August 31st. The stock was purchased at an average cost of $19.18 per share, for a total transaction of $191,800.00. Following the completion of the purchase, the insider directly owned 14,263,714 shares in the company, valued at $273,578,034.52. This trade represents a 0.07% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Tuesday, September 1st, Mutual Insurance Co Donegal bought 9,257 shares of Donegal Group stock. The stock was purchased at an average price of $19.17 per share, with a total value of $177,456.69.
• On Thursday, August 27th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average cost of $18.95 per share, for a total transaction of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal purchased 9,508 shares of Donegal Group stock. The shares were purchased at an average cost of $19.11 per share, with a total value of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.06 per share, with a total value of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $18.68 per share, for a total transaction of $186,800.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal purchased 9,815 shares of Donegal Group stock. The stock was acquired at an average price of $18.66 per share, with a total value of $183,147.90.
• On Wednesday, August 19th, Mutual Insurance Co Donegal acquired 9,700 shares of Donegal Group stock. The shares were bought at an average cost of $18.61 per share, with a total value of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average price of $18.52 per share, for a total transaction of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal bought 18,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.67 per share, for a total transaction of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal purchased 9,682 shares of Donegal Group stock. The shares were bought at an average cost of $17.62 per share, with a total value of $170,596.84.

Donegal Group Stock Performance

NASDAQ:DGICA opened at $19.35 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.28 billion, a P/E ratio of 10.03 and a beta of -0.01. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The firm’s 50 day moving average is $18.94 and its two-hundred day moving average is $17.91.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. The company had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. Analysts expect that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.1925 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.77 dividend on an annualized basis and a yield of 4.0%. Donegal Group’s dividend payout ratio (DPR) is presently 39.90%.

Institutional Investors Weigh In On Donegal Group

Institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System boosted its holdings in Donegal Group by 1,721.1% in the second quarter. California State Teachers Retirement System now owns 278,204 shares of the insurance provider’s stock worth $5,247,000 after purchasing an additional 262,927 shares during the period. Royce & Associates LP raised its holdings in shares of Donegal Group by 579.4% during the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after purchasing an additional 144,853 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Donegal Group by 117.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock worth $4,718,000 after buying an additional 127,470 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Donegal Group by 139.8% in the 3rd quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock worth $2,956,000 after buying an additional 88,878 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Donegal Group by 41.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after buying an additional 80,614 shares during the period. 27.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DGICA shares. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Keefe, Bruyette & Woods boosted their target price on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.00.

About Donegal Group

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.