Donegal Group (NASDAQ:DGICA) Major Shareholder Acquires $147,900.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of $17.40 per share, for a total transaction of $147,900.00. Following the completion of the purchase, the insider directly owned 14,056,109 shares of the company’s stock, valued at approximately $244,576,296.60. This represents a 0.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% 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 Tuesday, May 26th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.33 per share, for a total transaction of $147,305.00.
• On Wednesday, May 20th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.43 per share, for a total transaction 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 cost of $17.48 per share, for a total transaction 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 cost of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.16 per share, for a total transaction of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $16.86 per share, for a total transaction of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was 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 bought 8,077 shares of Donegal Group stock. The stock was 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 bought 8,500 shares of Donegal Group stock. The stock was 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 bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.50 per share, with a total value of $140,250.00.

Donegal Group Stock Performance

Shares of DGICA stock opened at $17.07 on Friday. Donegal Group, Inc. has a one year low of $16.11 and a one year high of $21.06. The firm has a 50-day moving average of $17.25 and a 200-day moving average of $18.45. 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 has a market cap of $632.44 million, a P/E ratio of 9.54 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The company had revenue of $236.00 million for the quarter, compared to analysts’ expectations of $247.83 million. Equities research analysts forecast that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Increases Dividend

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

Institutional Investors Weigh In On Donegal Group

Hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new stake in Donegal Group during the third quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its position in Donegal Group by 576.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 2,341 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Donegal Group by 422.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 2,975 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Donegal Group by 31.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 896 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in Donegal Group by 1,377.6% during the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 3,513 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DGICA. Weiss Ratings downgraded shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Keefe, Bruyette & Woods reduced 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 research note on Friday, May 1st. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Donegal Group presently has a consensus rating of “Hold” and an average target price of $18.00.

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.