Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 8,328 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,328 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $17.48 per share, with a total value of $145,573.44. Following the completion of the purchase, the insider directly owned 14,030,609 shares of the company’s stock, valued at $245,255,045.32. This represents a 0.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 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 bought 8,500 shares of Donegal Group stock. The stock was purchased 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 bought 8,500 shares of Donegal Group stock. The stock was purchased 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 bought 8,500 shares of Donegal Group stock. The stock was purchased 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 bought 8,077 shares of Donegal Group stock. The stock was purchased 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 shares were bought at an average price of $17.06 per share, with a total value of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average price 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 price of $17.63 per share, with a total value of $158,670.00.

Donegal Group Stock Performance

Donegal Group stock opened at $17.44 on Thursday. 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 stock has a fifty day moving average price of $17.20 and a two-hundred day moving average price of $18.52. Donegal Group, Inc. has a 52-week low of $16.11 and a 52-week high of $21.06. The firm has a market capitalization of $646.15 million, a P/E ratio of 9.74 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 earnings per share (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 company had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. As a group, analysts anticipate 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 was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a dividend of $0.1925 per share. This is an increase from Donegal Group’s previous quarterly dividend of $0.18. This represents a $0.77 annualized dividend and a yield of 4.4%. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio is currently 43.02%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Donegal Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new stake in shares of Donegal Group in the third quarter valued at $26,000. Smartleaf Asset Management LLC boosted its holdings in Donegal Group by 576.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 2,341 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Donegal Group by 422.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 2,975 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Donegal Group by 31.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after acquiring an additional 896 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings 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 acquiring an additional 3,513 shares during the last quarter. 27.96% of the stock is currently 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.