Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 13,469 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 13,469 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were bought at an average price of $19.13 per share, with a total value of $257,661.97. Following the transaction, the insider directly owned 14,322,403 shares in the company, valued at approximately $273,987,569.39. The trade was a 0.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% 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, September 10th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was bought at an average price of $19.13 per share, for a total transaction of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.14 per share, for a total transaction of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal bought 6,368 shares of Donegal Group stock. The shares were bought at an average cost of $19.39 per share, with a total value of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal purchased 9,595 shares of Donegal Group stock. The stock was bought at an average price of $19.53 per share, with a total value of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was bought at an average price of $19.43 per share, with a total value of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal purchased 9,257 shares of Donegal Group stock. The stock was bought at an average cost of $19.17 per share, for a total transaction of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average price of $19.18 per share, for a total transaction of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $18.95 per share, with a total value of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal acquired 9,508 shares of Donegal Group stock. The shares were purchased at an average cost of $19.11 per share, with a total value of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.06 per share, with a total value of $190,600.00.

Donegal Group Stock Performance

Donegal Group stock opened at $19.36 on Friday. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The firm’s 50 day simple moving average is $19.00 and its 200-day simple moving average is $17.96. 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 market cap of $1.28 billion, a P/E ratio of 10.03 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.42 by $0.11. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The business had revenue of $241.12 million during the quarter, compared to the consensus estimate of $231.53 million. As a group, equities research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s payout ratio is 39.90%.

Institutional Trading of Donegal Group

Several institutional investors have recently made changes to their positions in DGICA. IFP Advisors Inc increased its stake in Donegal Group by 27.8% in the 2nd quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock valued at $174,000 after buying an additional 2,004 shares during the period. Allianz Asset Management GmbH purchased a new stake in Donegal Group in the 2nd quarter worth approximately $220,000. California State Teachers Retirement System boosted its stake in shares of Donegal Group by 1,721.1% during 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 during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Donegal Group during the 2nd quarter valued at $344,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Donegal Group during the 2nd quarter valued at $273,000. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DGICA shares. Keefe, Bruyette & Woods raised their target price on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Donegal Group currently has an average rating of “Hold” and an average price target of $20.00.

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.