Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $154,880.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,000 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $19.36 per share, for a total transaction of $154,880.00. Following the completion of the purchase, the insider directly owned 13,694,579 shares in the company, valued at approximately $265,127,049.44. This represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Thursday, November 13th, Mutual Insurance Co Donegal purchased 29,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.53 per share, for a total transaction of $566,370.00.
• On Wednesday, November 12th, Mutual Insurance Co Donegal acquired 6,794 shares of Donegal Group stock. The stock was acquired at an average price of $19.74 per share, for a total transaction of $134,113.56.
• On Tuesday, November 11th, Mutual Insurance Co Donegal bought 7,297 shares of Donegal Group stock. The shares were acquired at an average cost of $19.66 per share, with a total value of $143,459.02.
• On Thursday, November 6th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The stock was acquired at an average price of $19.13 per share, for a total transaction of $153,040.00.
• On Tuesday, November 4th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The stock was acquired at an average cost of $18.71 per share, for a total transaction of $149,680.00.
• On Friday, September 12th, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The shares were acquired at an average cost of $19.53 per share, with a total value of $390,600.00.
• On Thursday, September 11th, Mutual Insurance Co Donegal acquired 16,573 shares of Donegal Group stock. The stock was bought at an average price of $19.45 per share, for a total transaction of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The stock was bought at an average price of $18.99 per share, for a total transaction of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal bought 19,352 shares of Donegal Group stock. The stock was purchased at an average cost of $19.24 per share, for a total transaction of $372,332.48.
• On Monday, September 8th, Mutual Insurance Co Donegal purchased 19,025 shares of Donegal Group stock. The shares were purchased at an average price of $19.10 per share, with a total value of $363,377.50.

Donegal Group Trading Up 0.5%

Shares of NASDAQ DGICA opened at $19.98 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $729.45 million, a PE ratio of 8.39 and a beta of 0.01. Donegal Group, Inc. has a twelve month low of $14.17 and a twelve month high of $21.12. The stock has a fifty day simple moving average of $19.25 and a 200-day simple moving average of $18.95.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.15. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%.The firm had revenue of $245.92 million for the quarter, compared to analyst estimates of $244.19 million. On average, equities analysts forecast that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.1825 per share. This represents a $0.73 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, November 3rd. Donegal Group’s dividend payout ratio is currently 30.17%.

Analysts Set New Price Targets

DGICA has been the subject of a number of research reports. Janney Montgomery Scott upgraded shares of Donegal Group from a “neutral” rating to a “buy” rating in a report on Tuesday, September 2nd. Zacks Research raised shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Donegal Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $18.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Donegal Group by 78.0% in the 1st quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 2,263 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Donegal Group during the first quarter worth $489,000. Pinnacle Associates Ltd. purchased a new position in Donegal Group in the first quarter valued at $714,000. XTX Topco Ltd increased its holdings in Donegal Group by 56.8% in the first quarter. XTX Topco Ltd now owns 16,387 shares of the insurance provider’s stock valued at $322,000 after buying an additional 5,935 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Donegal Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 946,432 shares of the insurance provider’s stock valued at $18,578,000 after buying an additional 19,174 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

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.