Donegal Group (NASDAQ:DGICA) Stock: Insider Mutual Insurance Co Donegal Purchases 7,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock in a transaction that occurred on Tuesday, November 3rd. The stock was bought at an average price of $18.69 per share, for a total transaction of $140,175.00. Following the completion of the acquisition, the insider owned 14,394,628 shares in the company, valued at $269,035,597.32. This trade represents a 0.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, September 11th, Mutual Insurance Co Donegal bought 54,725 shares of Donegal Group stock. The stock was bought at an average cost of $19.23 per share, for a total transaction of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal bought 13,469 shares of Donegal Group stock. The shares were bought at an average cost of $19.13 per share, with a total value of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.13 per share, with a total value of $191,300.00.
• 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 Friday, September 4th, Mutual Insurance Co Donegal acquired 6,368 shares of Donegal Group stock. The stock was acquired at an average price of $19.39 per share, with a total value of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal bought 9,595 shares of Donegal Group stock. The shares were acquired at an average cost of $19.53 per share, for a total transaction of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $19.43 per share, with a total value of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal purchased 9,257 shares of Donegal Group stock. The stock was acquired at an average price of $19.17 per share, with a total value of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal acquired 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 acquired 10,000 shares of Donegal Group stock. The stock was bought at an average price of $18.95 per share, for a total transaction of $189,500.00.

Donegal Group Trading Up 2.2%

NASDAQ:DGICA opened at $19.10 on Thursday. The firm has a market cap of $708.97 million, a PE ratio of 10.21 and a beta of -0.03. The stock has a fifty day moving average price of $18.70 and a 200 day moving average price of $18.15. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. Donegal Group had a return on equity of 10.49% and a net margin of 7.24%. The company had revenue of $237.66 million for the quarter, compared to the consensus estimate of $214.12 million. Sell-side analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a $0.1925 dividend. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, November 2nd. Donegal Group’s dividend payout ratio (DPR) is presently 41.18%.

Hedge Funds Weigh In On Donegal Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DGICA. Nisa Investment Advisors LLC grew its position in shares of Donegal Group by 214.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider’s stock valued at $105,000 after buying an additional 4,016 shares during the last quarter. IFP Advisors Inc increased its position in shares of Donegal Group by 27.8% during the second quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock worth $174,000 after purchasing an additional 2,004 shares in the last quarter. State of Wyoming acquired a new position in Donegal Group during the third quarter worth approximately $177,000. Allianz Asset Management GmbH acquired a new position in Donegal Group during the second quarter worth approximately $220,000. Finally, Amundi purchased a new stake in Donegal Group in the first quarter valued at approximately $206,000. 27.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DGICA has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Zacks Research upgraded shares of Donegal Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Donegal Group has a consensus rating of “Hold” and an average price target of $20.00.

Donegal Group Company Profile

Donegal Group Inc (NASDAQ: DGICA) is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.

Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers’ compensation coverage, along with other specialized property and casualty policies.

Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.