Donegal Group (NASDAQ:DGICA) Major Shareholder Buys $147,305.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,500 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $17.33 per share, with a total value of $147,305.00. Following the purchase, the insider directly owned 14,064,609 shares of the company’s stock, valued at $243,739,673.97. The trade was a 0.06% increase in their position. The transaction was disclosed in a filing with the SEC, which is available 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 Thursday, May 28th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.98 per share, with a total value of $144,330.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.40 per share, with a total value of $147,900.00.
• On Wednesday, May 20th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.43 per share, with a total value of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group stock. The stock was purchased at an average price of $17.48 per share, with a total value of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.33 per share, with a total value of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was bought at an average price of $17.16 per share, with a total value of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was bought at an average price of $16.86 per share, with a total value of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was bought at an average price of $17.18 per share, with a total value of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal acquired 8,077 shares of Donegal Group stock. The stock was bought at an average price of $17.13 per share, with a total value of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was bought at an average price of $17.06 per share, with a total value of $145,010.00.

Donegal Group Stock Performance

DGICA stock opened at $16.97 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The company has a 50 day moving average price of $17.25 and a 200 day moving average price of $18.44. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The stock has a market capitalization of $628.74 million, a PE ratio of 9.48 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 earnings per share 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 company had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million. Analysts forecast that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a $0.1925 dividend. This is a boost 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 yield of 4.5%. Donegal Group’s dividend payout ratio is presently 43.02%.

Institutional Trading of Donegal Group

A number of institutional investors have recently bought and sold shares of DGICA. Smartleaf Asset Management LLC grew its holdings in Donegal Group by 576.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 2,341 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after acquiring an additional 2,975 shares during the period. IFP Advisors Inc grew its holdings in Donegal Group by 1,377.6% during the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 3,513 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Donegal Group by 31.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 896 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Donegal Group by 443.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after acquiring an additional 4,022 shares during the period. Institutional investors and hedge funds own 27.96% of the company’s stock.

Analyst Ratings Changes

DGICA has been the subject of several research analyst reports. Weiss Ratings cut shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods lowered their target price on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.00.

About Donegal Group

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.