Mutual Insurance Co Donegal Buys 7,104 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 7,104 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was bought at an average price of $19.84 per share, with a total value of $140,943.36. Following the completion of the purchase, the insider owned 13,760,774 shares of the company’s stock, valued at $273,013,756.16. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, November 19th, Mutual Insurance Co Donegal purchased 7,587 shares of Donegal Group stock. The shares were bought at an average price of $19.62 per share, for a total transaction of $148,856.94.
• On Monday, November 17th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The shares were bought at an average price of $19.91 per share, with a total value of $159,280.00.
• On Friday, November 14th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The stock was bought at an average price of $19.92 per share, for a total transaction of $159,360.00.
• 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, with a total value of $566,370.00.
• On Wednesday, November 12th, Mutual Insurance Co Donegal acquired 6,794 shares of Donegal Group stock. The stock was purchased at an average cost 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 stock was purchased at an average price of $19.66 per share, for a total transaction of $143,459.02.
• On Monday, November 10th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.36 per share, with a total value of $154,880.00.
• On Thursday, November 6th, Mutual Insurance Co Donegal purchased 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 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 price of $19.53 per share, with a total value of $390,600.00.

Donegal Group Stock Up 1.3%

DGICA opened at $19.75 on Friday. Donegal Group, Inc. has a 12 month low of $14.17 and a 12 month high of $21.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $723.68 million, a P/E ratio of 8.30 and a beta of 0.01. The stock’s 50 day moving average price is $19.28 and its 200 day moving average price is $18.96.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%.The company had revenue of $245.92 million during the quarter, compared to analyst estimates of $244.19 million. As a group, research analysts predict that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were given a $0.1825 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, November 3rd. Donegal Group’s dividend payout ratio is currently 30.17%.

Analysts Set New Price Targets

A number of analysts have commented on DGICA shares. Janney Montgomery Scott upgraded shares of Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. Wall Street Zen lowered shares of Donegal Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Zacks Research raised Donegal Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, October 8th. 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. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $18.00.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC raised its stake in Donegal Group by 21.4% during the 1st quarter. Hsbc Holdings PLC now owns 47,551 shares of the insurance provider’s stock valued at $936,000 after purchasing an additional 8,394 shares during the period. XTX Topco Ltd raised its position in Donegal Group by 56.8% during 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 period. CWM LLC raised its position in Donegal Group by 21.9% during the second quarter. CWM LLC now owns 6,293 shares of the insurance provider’s stock valued at $126,000 after buying an additional 1,130 shares during the period. Inspire Investing LLC acquired a new stake in Donegal Group during the 1st quarter worth about $825,000. Finally, Russell Investments Group Ltd. grew its stake in Donegal Group by 47.4% during the 1st quarter. Russell Investments Group Ltd. now owns 5,225 shares of the insurance provider’s stock valued at $103,000 after acquiring an additional 1,681 shares in the last quarter. 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.