Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires 8,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were bought at an average cost of $18.14 per share, for a total transaction of $145,120.00. Following the acquisition, the insider now owns 13,334,382 shares of the company’s stock, valued at $241,885,689.48. This represents a 0.06 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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, March 12th, Mutual Insurance Co Donegal purchased 11,600 shares of Donegal Group stock. The shares were bought at an average price of $17.59 per share, for a total transaction of $204,044.00.
• On Monday, March 10th, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The shares were purchased at an average cost of $17.83 per share, for a total transaction of $267,450.00.
• On Friday, March 7th, Mutual Insurance Co Donegal bought 14,608 shares of Donegal Group stock. The shares were bought at an average price of $17.96 per share, for a total transaction of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The stock was acquired at an average cost of $17.98 per share, for a total transaction of $269,700.00.
• On Monday, March 3rd, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The stock was bought at an average cost of $17.85 per share, for a total transaction of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal purchased 14,700 shares of Donegal Group stock. The shares were bought 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 acquired 12,000 shares of Donegal Group stock. The stock was bought at an average price of $16.49 per share, for a total transaction of $197,880.00.

Donegal Group Trading Up 1.2 %

Shares of Donegal Group stock traded up $0.23 during trading hours on Monday, reaching $18.43. 26,553 shares of the company’s stock were exchanged, compared to its average volume of 71,349. The firm has a market capitalization of $624.53 million, a price-to-earnings ratio of 12.12 and a beta of -0.04. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $19.37. The company has a fifty day moving average of $15.67 and a 200-day moving average of $15.51.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, February 20th. The insurance provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.30 by $0.39. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. The company had revenue of $249.70 million during the quarter, compared to analysts’ expectations of $250.61 million. Sell-side analysts forecast that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were paid a dividend of $0.1725 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 3.74%. Donegal Group’s dividend payout ratio is currently 45.39%.

Hedge Funds Weigh In On Donegal Group

Hedge funds and other institutional investors have recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in shares of Donegal Group during the fourth quarter worth about $68,000. SG Americas Securities LLC purchased a new stake in shares of Donegal Group during the fourth quarter valued at approximately $128,000. BNP Paribas Financial Markets lifted its position in shares of Donegal Group by 117.2% during the fourth quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock worth $130,000 after purchasing an additional 4,544 shares in the last quarter. XTX Topco Ltd acquired a new stake in Donegal Group during the 4th quarter valued at $162,000. Finally, Private Advisor Group LLC acquired a new stake in Donegal Group during the 4th quarter valued at $177,000. 27.96% of the stock is owned by institutional investors and hedge funds.

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.