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

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was bought at an average price of $17.40 per share, for a total transaction of $147,900.00. Following the purchase, the insider owned 14,056,109 shares in the company, valued at approximately $244,576,296.60. This trade represents a 0.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 Wednesday, May 20th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was bought at an average price of $17.43 per share, for a total transaction of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal acquired 8,328 shares of Donegal Group stock. The stock was bought at an average price of $17.48 per share, for a total transaction of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.16 per share, for a total transaction of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $16.86 per share, for a total transaction of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.18 per share, for a total transaction of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal purchased 8,077 shares of Donegal Group stock. The shares were acquired at an average price of $17.13 per share, for a total transaction of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.06 per share, for a total transaction of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $16.50 per share, for a total transaction of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal purchased 9,000 shares of Donegal Group stock. The shares were acquired at an average price of $17.63 per share, for a total transaction of $158,670.00.

Donegal Group Stock Up 0.5%

Shares of DGICA traded up $0.08 during mid-day trading on Tuesday, hitting $17.42. 75,846 shares of the company’s stock were exchanged, compared to its average volume of 118,977. The firm has a fifty day moving average of $17.24 and a two-hundred day moving average of $18.49. Donegal Group, Inc. has a twelve month low of $16.11 and a twelve month high of $21.06. The stock has a market cap of $645.41 million, a price-to-earnings ratio of 9.73 and a beta of 0.01. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05.

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

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.1925 per share. This is a positive change from Donegal Group’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 1st. This represents a $0.77 annualized dividend and a dividend yield of 4.4%. Donegal Group’s dividend payout ratio (DPR) is currently 43.02%.

Institutional Trading of Donegal Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royce & Associates LP lifted its holdings in shares of Donegal Group by 579.4% during the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after acquiring an additional 144,853 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Donegal Group by 117.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock worth $4,718,000 after acquiring an additional 127,470 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Donegal Group by 139.8% during the 3rd quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock worth $2,956,000 after acquiring an additional 88,878 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Donegal Group by 41.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after purchasing an additional 80,614 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in shares of Donegal Group by 157.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 131,574 shares of the insurance provider’s stock valued at $2,635,000 after purchasing an additional 80,395 shares during the period. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DGICA shares. Keefe, Bruyette & Woods dropped their price target on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, May 1st. Weiss Ratings lowered shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.