Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Buys $166,200.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average price of $16.62 per share, with a total value of $166,200.00. Following the completion of the acquisition, the insider directly owned 14,117,109 shares of the company’s stock, valued at approximately $234,626,351.58. The trade was a 0.07% increase in their ownership of the stock. The transaction 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 Monday, June 1st, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $16.76 per share, for a total transaction of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $16.98 per share, for a total transaction of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.40 per share, for a total transaction of $147,900.00.
• On Wednesday, May 20th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.43 per share, for a total transaction of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal purchased 8,328 shares of Donegal Group stock. The shares were purchased at an average cost of $17.48 per share, for a total transaction of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.16 per share, for a total transaction of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $16.86 per share, for a total transaction of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was bought at an average price of $17.18 per share, for a total transaction of $146,030.00.

Donegal Group Stock Up 3.1%

DGICA opened at $17.24 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock has a market cap of $638.74 million, a price-to-earnings ratio of 9.63 and a beta of 0.01. Donegal Group, Inc. has a twelve month low of $16.11 and a twelve month high of $21.06. The company’s 50-day moving average price is $17.23 and its two-hundred day moving average price is $18.34.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). The company had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. As a group, equities analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.1925 dividend. The ex-dividend date was Friday, May 1st. This is a positive change from Donegal Group’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 4.5%. Donegal Group’s dividend payout ratio is presently 43.02%.

Institutional Trading of Donegal Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC raised its position in shares of 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 purchasing an additional 2,341 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of 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 purchasing an additional 2,975 shares during the period. IFP Advisors Inc raised its position in shares of 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 purchasing an additional 3,513 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of 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 purchasing an additional 896 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Donegal Group by 443.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after purchasing an additional 4,022 shares during the period. Institutional investors own 27.96% of the company’s stock.

Analyst Ratings Changes

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

Donegal Group Company Profile

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.