Mutual Insurance Co Donegal Buys 9,682 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 9,682 shares of the business’s stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $17.62 per share, with a total value of $170,596.84. Following the transaction, the insider owned 14,136,691 shares in the company, valued at approximately $249,088,495.42. The trade was a 0.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, June 11th, Mutual Insurance Co Donegal bought 9,900 shares of Donegal Group stock. The shares were purchased at an average price of $17.56 per share, with a total value of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were purchased at an average price of $16.62 per share, with a total value of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $16.76 per share, with a total value of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $16.98 per share, with a total value of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.33 per share, with a total value of $147,305.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.40 per share, with a total value of $147,900.00.
• On Wednesday, May 20th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.43 per share, with a total value of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group stock. The shares were purchased at an average price of $17.48 per share, with a total value of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were 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 shares were purchased at an average price of $17.16 per share, with a total value of $145,860.00.

Donegal Group Stock Up 0.7%

Shares of Donegal Group stock opened at $17.46 on Wednesday. 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 12 month low of $16.11 and a 12 month high of $21.06. The business has a fifty day simple moving average of $17.27 and a 200 day simple moving average of $18.21. The stock has a market cap of $646.89 million, a PE ratio of 9.75 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates 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. Research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.4%. This is a boost from Donegal Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 1st. Donegal Group’s payout ratio is presently 43.02%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DGICA. AQR Capital Management LLC grew its stake in Donegal Group by 139.8% in the first quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock valued at $774,000 after acquiring an additional 22,978 shares during the period. Goldman Sachs Group Inc. grew its stake in Donegal Group by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock valued at $2,155,000 after acquiring an additional 8,004 shares during the period. Empowered Funds LLC grew its stake in Donegal Group by 1.9% in the first quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider’s stock valued at $1,802,000 after acquiring an additional 1,696 shares during the period. Jane Street Group LLC acquired a new position in Donegal Group in the first quarter valued at about $689,000. Finally, Rhumbline Advisers grew its stake in Donegal Group by 22.3% in the second quarter. Rhumbline Advisers now owns 32,824 shares of the insurance provider’s stock valued at $657,000 after acquiring an additional 5,981 shares during the period. 27.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on DGICA. Keefe, Bruyette & Woods decreased their price objective 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. Weiss Ratings cut Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company 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.