Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Buys $140,550.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The shares were purchased at an average cost of $18.74 per share, for a total transaction of $140,550.00. Following the completion of the transaction, the insider owned 14,435,128 shares of the company’s stock, valued at $270,514,298.72. This represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% 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 Thursday, November 5th, Mutual Insurance Co Donegal purchased 25,500 shares of Donegal Group stock. The stock was purchased at an average cost of $18.86 per share, with a total value of $480,930.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The stock was purchased at an average price of $18.69 per share, with a total value of $140,175.00.
• On Friday, September 11th, Mutual Insurance Co Donegal acquired 54,725 shares of Donegal Group stock. The stock was purchased at an average price of $19.23 per share, with a total value of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal acquired 13,469 shares of Donegal Group stock. The shares were purchased at an average cost of $19.13 per share, for a total transaction of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average price of $19.13 per share, for a total transaction of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased 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 bought 6,368 shares of Donegal Group stock. The stock was purchased 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 stock was purchased 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 purchased 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.43 per share, for a total transaction of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal purchased 9,257 shares of Donegal Group stock. The shares were acquired at an average price of $19.17 per share, for a total transaction of $177,456.69.

Donegal Group Stock Performance

Shares of Donegal Group stock opened at $18.73 on Monday. The firm has a market capitalization of $695.26 million, a PE ratio of 10.02 and a beta of -0.03. 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 company’s fifty day moving average price is $18.70 and its two-hundred day moving average price is $18.14. Donegal Group, Inc. has a 52-week low of $16.11 and a 52-week high of $21.06.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, October 29th. The insurance provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Donegal Group had a net margin of 7.24% and a return on equity of 10.49%. The company had revenue of $237.66 million during the quarter, compared to the consensus estimate of $214.12 million. On average, analysts expect that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, November 2nd. Donegal Group’s dividend payout ratio is 41.18%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its stake in shares of Donegal Group by 6.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 21,290 shares of the insurance provider’s stock valued at $379,000 after purchasing an additional 1,336 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Donegal Group by 27.8% in the 2nd 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 during the last quarter. Bank of America Corp DE increased its position in shares of Donegal Group by 3.1% during the 1st quarter. Bank of America Corp DE now owns 73,820 shares of the insurance provider’s stock worth $1,268,000 after purchasing an additional 2,243 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of Donegal Group by 3.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider’s stock worth $1,710,000 after purchasing an additional 3,264 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Donegal Group by 214.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 4,016 shares in the last quarter. 27.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DGICA has been the topic of a number of recent research reports. Zacks Research raised Donegal Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Donegal Group has an average rating of “Hold” and an average target price of $20.00.

About Donegal Group

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.