Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Buys 8,028 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 8,028 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average price of $15.20 per share, for a total transaction of $122,025.60. Following the completion of the purchase, the insider now directly owns 12,260,719 shares of the company’s stock, valued at approximately $186,362,928.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 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 Tuesday, September 3rd, Mutual Insurance Co Donegal purchased 9,452 shares of Donegal Group stock. The stock was acquired at an average price of $15.24 per share, for a total transaction of $144,048.48.
• On Wednesday, August 28th, Mutual Insurance Co Donegal purchased 6,000 shares of Donegal Group stock. The stock was acquired at an average price of $15.02 per share, for a total transaction of $90,120.00.
• On Monday, August 26th, Mutual Insurance Co Donegal purchased 9,996 shares of Donegal Group stock. The stock was acquired at an average price of $14.97 per share, for a total transaction of $149,640.12.
• On Friday, August 23rd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $14.93 per share, for a total transaction of $149,300.00.
• On Wednesday, August 21st, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $14.76 per share, for a total transaction of $125,460.00.
• On Monday, August 19th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $14.75 per share, with a total value of $147,500.00.
• On Friday, August 16th, Mutual Insurance Co Donegal acquired 9,800 shares of Donegal Group stock. The shares were purchased at an average cost of $14.78 per share, with a total value of $144,844.00.
• On Wednesday, August 14th, Mutual Insurance Co Donegal acquired 8,800 shares of Donegal Group stock. The shares were purchased at an average cost of $14.56 per share, with a total value of $128,128.00.
• On Monday, August 12th, Mutual Insurance Co Donegal acquired 4,956 shares of Donegal Group stock. The shares were purchased at an average cost of $14.15 per share, with a total value of $70,127.40.
• On Friday, August 9th, Mutual Insurance Co Donegal acquired 3,848 shares of Donegal Group stock. The shares were purchased at an average cost of $14.13 per share, with a total value of $54,372.24.

Donegal Group Trading Up 0.6 %

DGICA opened at $15.28 on Friday. Donegal Group Inc. has a twelve month low of $12.26 and a twelve month high of $15.39. The company has a 50-day simple moving average of $14.16 and a 200 day simple moving average of $13.72. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $510.25 million, a price-to-earnings ratio of 95.50 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, July 25th. The insurance provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The firm had revenue of $246.77 million during the quarter, compared to analysts’ expectations of $243.00 million. Donegal Group had a net margin of 0.76% and a return on equity of 0.89%. Analysts predict that Donegal Group Inc. will post 0.45 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.50%. Donegal Group’s dividend payout ratio (DPR) is currently 431.25%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DGICA. Dimensional Fund Advisors LP increased its stake in shares of Donegal Group by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,825,664 shares of the insurance provider’s stock valued at $25,541,000 after buying an additional 53,632 shares during the period. Vanguard Group Inc. grew its position in shares of Donegal Group by 34.7% during the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after buying an additional 304,477 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Donegal Group by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock worth $1,669,000 after purchasing an additional 5,416 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Donegal Group by 8.2% in the 1st quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock worth $1,573,000 after purchasing an additional 8,400 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Donegal Group by 30.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock worth $1,072,000 after purchasing an additional 17,614 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.

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.