Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 18,000 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 18,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were bought at an average cost of $19.67 per share, with a total value of $354,060.00. Following the completion of the acquisition, the insider directly owned 14,154,691 shares in the company, valued at $278,422,771.97. The trade was a 0.13% increase in their position. The transaction was disclosed in a 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 transactions with the SEC.

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

• On Friday, June 12th, Mutual Insurance Co Donegal bought 9,682 shares of Donegal Group stock. The shares were acquired at an average price of $17.62 per share, with a total value of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal purchased 9,900 shares of Donegal Group stock. The shares were purchased at an average cost of $17.56 per share, with a total value of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were acquired at an average cost of $16.62 per share, for a total transaction of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought 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 acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $16.98 per share, for a total transaction of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought 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 acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average price 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 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 acquired 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 acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.33 per share, for a total transaction of $147,305.00.

Donegal Group Stock Down 0.5%

Donegal Group stock traded down $0.10 during mid-day trading on Friday, reaching $19.43. 2,555 shares of the company were exchanged, compared to its average volume of 127,137. The firm has a market cap of $719.70 million, a P/E ratio of 10.06 and a beta of -0.01. The business has a fifty day moving average of $18.35 and a 200 day moving average of $17.89. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. The company had revenue of $241.12 million during the quarter, compared to analysts’ expectations of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. Research analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.1925 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.77 dividend on an annualized basis and a yield of 4.0%. Donegal Group’s payout ratio is presently 39.90%.

Hedge Funds Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DGICA. AQR Capital Management LLC grew its stake in shares of Donegal Group by 139.8% during the first quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider’s stock worth $774,000 after purchasing an additional 22,978 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Donegal Group by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider’s stock worth $2,155,000 after acquiring an additional 8,004 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Donegal Group by 1.9% in the 1st 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 stake in shares of Donegal Group during the first quarter worth about $689,000. Finally, Rhumbline Advisers raised its stake in Donegal Group by 22.3% during the 2nd 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 last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Analysts Set New Price Targets

DGICA has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Donegal Group currently has a consensus rating of “Moderate Buy” 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.