Mutual Insurance Co Donegal Buys 8,500 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of the stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average price of $17.33 per share, with a total value of $147,305.00. Following the completion of the acquisition, the insider owned 14,064,609 shares in the company, valued at approximately $243,739,673.97. The trade was a 0.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 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 Friday, May 22nd, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $17.40 per share, with a total value of $147,900.00.
• On Wednesday, May 20th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $17.43 per share, with a total value of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal acquired 8,328 shares of Donegal Group stock. The stock was acquired at an average price of $17.48 per share, with a total value of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $17.33 per share, with a total value of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.16 per share, with a total value of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $16.86 per share, with a total value of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.18 per share, with a total value of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal purchased 8,077 shares of Donegal Group stock. The shares were purchased at an average price of $17.13 per share, with a total value of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.06 per share, with a total value of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $16.50 per share, with a total value of $140,250.00.

Donegal Group Trading Down 1.7%

NASDAQ:DGICA opened at $17.06 on Thursday. The company has a fifty day moving average of $17.25 and a 200 day moving average of $18.47. The firm has a market capitalization of $632.07 million, a P/E ratio of 9.53 and a beta of 0.01. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. 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 results on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). The business had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. On average, research analysts predict that Donegal Group, Inc. will post 1.7 earnings per share for the current year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.1925 dividend. This is a boost from Donegal Group’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 1st. This represents a $0.77 annualized dividend and a yield of 4.5%. Donegal Group’s dividend payout ratio (DPR) is currently 43.02%.

Analysts Set New Price Targets

DGICA has been the subject of several research reports. Keefe, Bruyette & Woods decreased their price objective on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, May 1st. Weiss Ratings lowered shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.00.

Institutional Trading of Donegal Group

Several hedge funds and other institutional investors have recently made changes to their positions in DGICA. Royce & Associates LP grew its stake in shares of Donegal Group by 579.4% in the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after buying an additional 144,853 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Donegal Group by 117.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock valued at $4,718,000 after purchasing an additional 127,470 shares in the last quarter. Two Sigma Investments LP increased its stake in Donegal Group by 139.8% during the 3rd quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock valued at $2,956,000 after purchasing an additional 88,878 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Donegal Group by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after purchasing an additional 80,614 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in Donegal Group by 157.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 131,574 shares of the insurance provider’s stock valued at $2,635,000 after purchasing an additional 80,395 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Donegal Group Company Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.