Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases 9,800 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 9,800 shares of the business’s stock in a transaction on Friday, August 16th. The stock was bought at an average cost of $14.78 per share, for a total transaction of $144,844.00. Following the completion of the transaction, the insider now directly owns 12,185,745 shares of the company’s stock, valued at $180,105,311.10. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more 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 Monday, August 19th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was bought at an average price of $14.75 per share, with a total value of $147,500.00.
• On Wednesday, August 14th, Mutual Insurance Co Donegal acquired 8,800 shares of Donegal Group stock. The shares were bought at an average price of $14.56 per share, with a total value of $128,128.00.
• On Monday, August 12th, Mutual Insurance Co Donegal bought 4,956 shares of Donegal Group stock. The stock was bought at an average price of $14.15 per share, with a total value of $70,127.40.
• On Friday, August 9th, Mutual Insurance Co Donegal purchased 3,848 shares of Donegal Group stock. The stock was acquired at an average price of $14.13 per share, for a total transaction of $54,372.24.
• On Wednesday, August 7th, Mutual Insurance Co Donegal bought 6,933 shares of Donegal Group stock. The stock was acquired at an average price of $14.13 per share, with a total value of $97,963.29.
• On Monday, August 5th, Mutual Insurance Co Donegal bought 8,951 shares of Donegal Group stock. The stock was purchased at an average price of $13.50 per share, for a total transaction of $120,838.50.
• On Tuesday, July 30th, Mutual Insurance Co Donegal acquired 9,024 shares of Donegal Group stock. The stock was acquired at an average cost of $14.96 per share, with a total value of $134,999.04.

Donegal Group Stock Performance

Donegal Group stock opened at $14.69 on Thursday. The firm has a market capitalization of $490.54 million, a PE ratio of 91.81 and a beta of -0.05. The business’s 50-day simple moving average is $13.64 and its 200-day simple moving average is $13.67. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.39. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $15.30.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $246.77 million for the quarter, compared to the consensus estimate of $243.00 million. Donegal Group had a net margin of 0.76% and a return on equity of 0.90%. Equities research analysts forecast that Donegal Group Inc. will post 0.35 earnings per share for the current year.

Donegal Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a $0.172 dividend. The ex-dividend date was Thursday, August 1st. This represents a $0.69 annualized dividend and a yield of 4.68%. Donegal Group’s dividend payout ratio (DPR) is 431.25%.

Institutional Trading of Donegal Group

A number of hedge funds have recently modified their holdings of the company. CWM LLC boosted its stake in Donegal Group by 170.9% during the fourth quarter. CWM LLC now owns 1,796 shares of the insurance provider’s stock worth $25,000 after buying an additional 1,133 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Donegal Group during the second quarter worth approximately $27,000. Hsbc Holdings PLC raised its position in Donegal Group by 7.8% in the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock valued at $389,000 after purchasing an additional 2,250 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Donegal Group by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock valued at $1,669,000 after buying an additional 5,416 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Donegal Group by 125.0% during the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after purchasing an additional 5,757 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Donegal Group from a “hold” rating to a “buy” rating in a report on Friday, April 26th.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.