Donegal Group (NASDAQ:DGICA) Major Shareholder Buys $181,697.88 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 9,508 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were purchased at an average price of $19.11 per share, with a total value of $181,697.88. Following the completion of the acquisition, the insider directly owned 14,233,714 shares of the company’s stock, valued at approximately $272,006,274.54. This trade represents a 0.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, August 24th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $19.06 per share, for a total transaction of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were acquired at an average cost of $18.68 per share, with a total value of $186,800.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal bought 9,815 shares of Donegal Group stock. The shares were acquired at an average price of $18.66 per share, with a total value of $183,147.90.
• On Wednesday, August 19th, Mutual Insurance Co Donegal bought 9,700 shares of Donegal Group stock. The stock was acquired at an average cost of $18.61 per share, for a total transaction of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $18.52 per share, for a total transaction of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal purchased 18,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.67 per share, with a total value of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal acquired 9,682 shares of Donegal Group stock. The stock was acquired at an average cost of $17.62 per share, with a total value of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal acquired 9,900 shares of Donegal Group stock. The stock was bought at an average price of $17.56 per share, for a total transaction of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $16.62 per share, for a total transaction of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were bought at an average price of $16.76 per share, with a total value of $142,460.00.

Donegal Group Stock Performance

Donegal Group stock traded down $0.15 during mid-day trading on Thursday, reaching $18.95. The company had a trading volume of 47,305 shares, compared to its average volume of 127,285. 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, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The company has a 50 day moving average of $18.80 and a 200-day moving average of $17.89. The firm has a market cap of $703.44 million, a price-to-earnings ratio of 9.82 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.11. The company had revenue of $241.12 million for the quarter, compared to the consensus estimate of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. On average, sell-side analysts expect that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.1925 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.1%. Donegal Group’s dividend payout ratio (DPR) is currently 39.90%.

Analyst Upgrades and Downgrades

DGICA has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Weiss Ratings raised shares of Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Hedge Funds Weigh In On Donegal Group

A number of hedge funds have recently modified their holdings of DGICA. California State Teachers Retirement System boosted its stake in Donegal Group by 1,721.1% in the 2nd quarter. California State Teachers Retirement System now owns 278,204 shares of the insurance provider’s stock valued at $5,247,000 after buying an additional 262,927 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Donegal Group in the second quarter valued at approximately $344,000. Ancora Advisors LLC bought a new position in shares of Donegal Group in the second quarter valued at approximately $273,000. Bank of America Corp DE boosted its holdings in shares of Donegal Group by 3.1% in the 1st quarter. Bank of America Corp DE now owns 73,820 shares of the insurance provider’s stock worth $1,268,000 after acquiring an additional 2,243 shares in the last quarter. Finally, Amundi bought a new stake in Donegal Group during the 1st quarter worth approximately $206,000. 27.96% of the stock is owned by institutional investors and hedge funds.

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.