Mutual Insurance Co Donegal Buys 9,595 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 9,595 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was bought at an average cost of $19.53 per share, for a total transaction of $187,390.35. Following the completion of the transaction, the insider directly owned 14,292,566 shares in the company, valued at $279,133,813.98. This represents a 0.07% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 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 Wednesday, September 2nd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.43 per share, for a total transaction of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal acquired 9,257 shares of Donegal Group stock. The stock was acquired at an average cost of $19.17 per share, for a total transaction of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were acquired at an average cost of $19.18 per share, for a total transaction of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $18.95 per share, with a total value of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal bought 9,508 shares of Donegal Group stock. The stock was bought at an average cost of $19.11 per share, for a total transaction of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average price of $19.06 per share, for a total transaction of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $18.68 per share, with a total value of $186,800.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal purchased 9,815 shares of Donegal Group stock. The stock was bought at an average price of $18.66 per share, with a total value of $183,147.90.
• On Wednesday, August 19th, Mutual Insurance Co Donegal purchased 9,700 shares of Donegal Group stock. The shares were bought at an average cost of $18.61 per share, for a total transaction of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average price of $18.52 per share, for a total transaction of $185,200.00.

Donegal Group Trading Up 0.2%

NASDAQ DGICA opened at $19.45 on Friday. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average of $18.99 and a 200-day moving average of $17.93. The company has a market cap of $721.98 million, a PE ratio of 10.08 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The business had revenue of $241.12 million for the quarter, compared to the consensus estimate of $231.53 million. On average, equities research analysts anticipate that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s dividend payout ratio is presently 39.90%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DGICA. Keefe, Bruyette & Woods raised their price objective on Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.00.

Hedge Funds Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in shares of Donegal Group by 576.6% in the 4th 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 raised its holdings in shares of Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after buying an additional 2,975 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Donegal Group by 31.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after buying an additional 896 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Donegal Group by 1,377.6% during the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after buying an additional 3,513 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Donegal Group by 443.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after buying an additional 4,022 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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.