Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 8,000 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock in a transaction on Monday, November 10th. The stock was bought at an average cost of $19.36 per share, with a total value of $154,880.00. Following the transaction, the insider directly owned 13,694,579 shares of the company’s stock, valued at approximately $265,127,049.44. The trade was a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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 Tuesday, November 11th, Mutual Insurance Co Donegal bought 7,297 shares of Donegal Group stock. The stock was bought at an average price of $19.66 per share, with a total value of $143,459.02.
• On Thursday, November 6th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.13 per share, with a total value of $153,040.00.
• On Tuesday, November 4th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The stock was acquired at an average price of $18.71 per share, for a total transaction of $149,680.00.
• On Friday, September 12th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.53 per share, for a total transaction of $390,600.00.
• On Thursday, September 11th, Mutual Insurance Co Donegal purchased 16,573 shares of Donegal Group stock. The stock was acquired at an average cost of $19.45 per share, for a total transaction of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The stock was bought at an average price of $18.99 per share, for a total transaction of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal purchased 19,352 shares of Donegal Group stock. The stock was bought at an average cost of $19.24 per share, with a total value of $372,332.48.
• On Monday, September 8th, Mutual Insurance Co Donegal acquired 19,025 shares of Donegal Group stock. The shares were bought at an average price of $19.10 per share, for a total transaction of $363,377.50.
• On Thursday, September 4th, Mutual Insurance Co Donegal bought 19,212 shares of Donegal Group stock. The shares were purchased at an average cost of $19.22 per share, for a total transaction of $369,254.64.
• On Wednesday, September 3rd, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The stock was purchased at an average price of $18.37 per share, with a total value of $367,400.00.

Donegal Group Stock Performance

DGICA stock traded up $0.07 during midday trading on Wednesday, hitting $19.80. The stock had a trading volume of 10,452 shares, compared to its average volume of 130,320. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06. The stock has a 50-day simple moving average of $19.19 and a 200 day simple moving average of $18.93. Donegal Group, Inc. has a 52 week low of $14.17 and a 52 week high of $21.12. The firm has a market capitalization of $722.70 million, a price-to-earnings ratio of 8.32 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%.The business had revenue of $245.55 million during the quarter, compared to analysts’ expectations of $244.19 million. As a group, equities research analysts anticipate that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be issued a dividend of $0.1825 per share. This represents a $0.73 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, November 3rd. Donegal Group’s dividend payout ratio (DPR) is currently 30.17%.

Analyst Ratings Changes

A number of research firms recently commented on DGICA. Janney Montgomery Scott upgraded Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. Wall Street Zen lowered shares of Donegal Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Donegal Group presently has a consensus rating of “Buy” and an average price target of $18.00.

Institutional Trading of Donegal Group

Several hedge funds and other institutional investors have recently modified their holdings of DGICA. ProShare Advisors LLC bought a new stake in Donegal Group in the 2nd quarter valued at approximately $6,343,000. CSM Advisors LLC acquired a new position in shares of Donegal Group during the 2nd quarter worth about $3,699,000. American Century Companies Inc. increased its position in shares of Donegal Group by 294.1% in the second quarter. American Century Companies Inc. now owns 149,611 shares of the insurance provider’s stock valued at $2,996,000 after acquiring an additional 111,647 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Donegal Group by 33.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider’s stock valued at $7,132,000 after purchasing an additional 88,462 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Donegal Group by 78.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 191,376 shares of the insurance provider’s stock worth $3,832,000 after purchasing an additional 84,263 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.