Mutual Insurance Co Donegal Buys 29,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 29,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were bought at an average cost of $19.53 per share, with a total value of $566,370.00. Following the transaction, the insider directly owned 13,737,670 shares of the company’s stock, valued at $268,296,695.10. The trade was a 0.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more 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, November 12th, Mutual Insurance Co Donegal purchased 6,794 shares of Donegal Group stock. The stock was bought 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 acquired 7,297 shares of Donegal Group stock. The shares were bought at an average cost of $19.66 per share, with a total value of $143,459.02.
• On Monday, November 10th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The shares were purchased at an average price of $19.36 per share, with a total value of $154,880.00.
• On Thursday, November 6th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The stock was purchased 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 shares were purchased at an average cost of $18.71 per share, with a total value of $149,680.00.
• On Friday, September 12th, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.53 per share, for a total transaction of $390,600.00.
• On Thursday, September 11th, Mutual Insurance Co Donegal acquired 16,573 shares of Donegal Group stock. The stock was purchased at an average cost of $19.45 per share, for a total transaction of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The shares were purchased at an average price of $18.99 per share, with a total value of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal bought 19,352 shares of Donegal Group stock. The shares were acquired at an average cost of $19.24 per share, with a total value of $372,332.48.
• On Monday, September 8th, Mutual Insurance Co Donegal purchased 19,025 shares of Donegal Group stock. The stock was acquired at an average price of $19.10 per share, for a total transaction of $363,377.50.

Donegal Group Price Performance

DGICA opened at $19.98 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06. Donegal Group, Inc. has a 52-week low of $14.17 and a 52-week high of $21.12. The company has a 50 day moving average of $19.25 and a two-hundred day moving average of $18.95. The company has a market cap of $732.11 million, a P/E ratio of 8.39 and a beta of 0.01.

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

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be given a $0.1825 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $0.73 annualized dividend and a yield of 3.7%. Donegal Group’s dividend payout ratio (DPR) is 30.17%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DGICA. Janney Montgomery Scott raised Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. Zacks Research raised 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 report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Donegal Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $18.00.

Institutional Investors Weigh In On Donegal Group

A number of hedge funds have recently bought and sold shares of DGICA. Vanguard Group Inc. grew its position in shares of Donegal Group by 4.0% during the third quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider’s stock worth $19,549,000 after buying an additional 39,181 shares in the last quarter. Geode Capital Management LLC boosted its stake in Donegal Group by 6.6% during the 2nd quarter. Geode Capital Management LLC now owns 409,082 shares of the insurance provider’s stock valued at $8,193,000 after acquiring an additional 25,259 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Donegal Group by 33.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider’s stock valued at $7,132,000 after acquiring an additional 88,462 shares during the last quarter. ProShare Advisors LLC grew its holdings in Donegal Group by 5.0% during the 3rd quarter. ProShare Advisors LLC now owns 332,503 shares of the insurance provider’s stock worth $6,447,000 after acquiring an additional 15,765 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Donegal Group by 9.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 208,922 shares of the insurance provider’s stock worth $4,051,000 after purchasing an additional 17,546 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

Donegal Group Company Profile

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.