Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 14,608 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 14,608 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $17.96 per share, for a total transaction of $262,359.68. Following the purchase, the insider now owns 13,275,682 shares of the company’s stock, valued at $238,431,248.72. This represents a 0.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 Monday, March 10th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The stock was purchased at an average cost of $17.83 per share, for a total transaction of $267,450.00.
• On Wednesday, March 5th, Mutual Insurance Co Donegal purchased 15,000 shares of Donegal Group stock. The stock was bought at an average price of $17.98 per share, for a total transaction of $269,700.00.
• On Monday, March 3rd, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The stock was bought at an average cost of $17.85 per share, with a total value of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal bought 14,700 shares of Donegal Group stock. The shares were purchased at an average cost of $17.06 per share, with a total value of $250,782.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal purchased 12,000 shares of Donegal Group stock. The shares were bought at an average price of $16.49 per share, for a total transaction of $197,880.00.
• On Friday, December 13th, Mutual Insurance Co Donegal purchased 7,817 shares of Donegal Group stock. The stock was acquired at an average cost of $16.29 per share, with a total value of $127,338.93.
• On Wednesday, December 11th, Mutual Insurance Co Donegal purchased 8,729 shares of Donegal Group stock. The shares were bought at an average price of $16.37 per share, with a total value of $142,893.73.

Donegal Group Stock Up 1.7 %

Donegal Group stock opened at $17.86 on Wednesday. The stock’s fifty day moving average is $15.51 and its two-hundred day moving average is $15.45. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $18.19. The firm has a market capitalization of $605.38 million, a price-to-earnings ratio of 11.75 and a beta of -0.04.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.39. The business had revenue of $249.70 million during the quarter, compared to the consensus estimate of $250.61 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. Analysts predict that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were given a dividend of $0.1725 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.86%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is currently 45.39%.

Institutional Trading of Donegal Group

Several hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Donegal Group by 124.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider’s stock valued at $3,647,000 after acquiring an additional 130,489 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Donegal Group by 29.5% in the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock valued at $6,638,000 after acquiring an additional 97,795 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Donegal Group by 351.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider’s stock worth $1,670,000 after buying an additional 84,029 shares during the period. Millennium Management LLC boosted its holdings in shares of Donegal Group by 170.8% during the 4th quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider’s stock worth $1,598,000 after buying an additional 65,146 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in Donegal Group by 137.8% in the 4th quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider’s stock valued at $1,615,000 after purchasing an additional 60,491 shares during the period. Institutional investors and hedge funds own 27.96% of the company’s stock.

Donegal Group Company Profile

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.