Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 6,368 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 6,368 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was acquired at an average cost of $19.39 per share, for a total transaction of $123,475.52. Following the transaction, the insider owned 14,298,934 shares in the company, valued at $277,256,330.26. This represents a 0.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares 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 8th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average price of $19.14 per share, with a total value of $191,400.00.
• On Thursday, September 3rd, Mutual Insurance Co Donegal acquired 9,595 shares of Donegal Group stock. The shares were bought at an average cost of $19.53 per share, with a total value of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.43 per share, with a total value of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal bought 9,257 shares of Donegal Group stock. The stock was bought at an average price of $19.17 per share, for a total transaction of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.18 per share, for a total transaction of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average price of $18.95 per share, with a total value of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal purchased 9,508 shares of Donegal Group stock. The stock was bought 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 shares were bought at an average price of $19.06 per share, for a total transaction of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $18.68 per share, for a total transaction of $186,800.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal bought 9,815 shares of Donegal Group stock. The stock was purchased at an average price of $18.66 per share, with a total value of $183,147.90.

Donegal Group Stock Performance

Shares of DGICA stock opened at $19.00 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a 50-day moving average of $19.00 and a 200-day moving average of $17.94. Donegal Group, Inc. has a one year low of $16.11 and a one year high of $21.06. The company has a market cap of $705.28 million, a P/E ratio of 9.84 and a beta of -0.01.

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

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.1925 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.77 annualized dividend and a yield of 4.1%. Donegal Group’s payout ratio is currently 39.90%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DGICA. Keefe, Bruyette & Woods increased their target price on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.00.

Institutional Trading of Donegal Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in shares of Donegal Group by 576.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock valued at $55,000 after buying an additional 2,341 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Donegal Group by 422.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 2,975 shares during the period. IFP Advisors Inc boosted its position in shares of Donegal Group by 1,377.6% in the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock valued at $75,000 after acquiring an additional 3,513 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Donegal Group by 31.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after acquiring an additional 896 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in Donegal Group by 443.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after acquiring an additional 4,022 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

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.