Mutual Insurance Co Donegal Buys 8,500 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,500 shares of the company’s stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $17.18 per share, with a total value of $146,030.00. Following the completion of the transaction, the insider owned 13,979,781 shares in the company, valued at $240,172,637.58. This represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 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 Friday, May 8th, Mutual Insurance Co Donegal bought 8,077 shares of Donegal Group stock. The stock was purchased at an average cost of $17.13 per share, with a total value of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.06 per share, with a total value of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $16.50 per share, with a total value of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal acquired 9,000 shares of Donegal Group stock. The shares were bought at an average cost of $17.63 per share, with a total value of $158,670.00.

Donegal Group Stock Performance

Shares of Donegal Group stock opened at $17.18 on Friday. Donegal Group, Inc. has a one year low of $16.11 and a one year high of $21.12. The company has a market cap of $635.66 million, a PE ratio of 9.60 and a beta of 0.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The business has a 50-day simple moving average of $17.22 and a 200-day simple moving average of $18.56.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The company had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. On average, equities research analysts forecast that Donegal Group, Inc. will post 1.7 EPS for the current fiscal year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a dividend of $0.1925 per share. This is a boost from Donegal Group’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, May 1st. Donegal Group’s dividend payout ratio is presently 43.02%.

Institutional Investors Weigh In On Donegal Group

Several institutional investors have recently added to or reduced their stakes in DGICA. Sierra Summit Advisors LLC purchased a new stake in Donegal Group in the third quarter valued at approximately $799,000. IFP Advisors Inc lifted its stake in Donegal Group by 1,377.6% in the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock valued at $75,000 after buying an additional 3,513 shares during the last quarter. Strs Ohio lifted its stake in Donegal Group by 3.7% in the fourth quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock valued at $565,000 after buying an additional 1,000 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC purchased a new stake in Donegal Group in the fourth quarter valued at approximately $408,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Donegal Group by 18.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,160 shares of the insurance provider’s stock valued at $415,000 after buying an additional 3,301 shares during the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on DGICA. Keefe, Bruyette & Woods lowered their price objective on Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, May 1st. Weiss Ratings cut Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.00.

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.