Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 8,500 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $17.43 per share, for a total transaction of $148,155.00. Following the completion of the acquisition, the insider directly owned 14,039,109 shares in the company, valued at $244,701,669.87. The trade was a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major 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 Tuesday, May 19th, Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group stock. The stock was purchased at an average price of $17.48 per share, for a total transaction of $145,573.44.
• 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, for a total transaction 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, for a total transaction 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, 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 purchased at an average price of $17.18 per share, for a total transaction 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, for a total transaction of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.06 per share, for a total transaction of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.50 per share, for a total transaction of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal purchased 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 Price Performance

Donegal Group stock opened at $17.44 on Thursday. The company’s 50 day simple moving average is $17.20 and its 200-day simple moving average is $18.52. The company has a market capitalization of $646.15 million, a price-to-earnings ratio of 9.74 and a beta of 0.01. Donegal Group, Inc. has a 1 year low of $16.11 and a 1 year 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, April 30th. The insurance provider reported $0.32 earnings per share (EPS) 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 research analysts expect that Donegal Group, Inc. will post 1.7 earnings per share for the current year.

Donegal Group Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co boosted its stake 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. Strs Ohio boosted its stake in shares of Donegal Group by 3.7% in the fourth quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock valued at $565,000 after purchasing an additional 1,000 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Donegal Group by 8.9% in the third quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock valued at $237,000 after purchasing an additional 1,000 shares during the period. Qube Research & Technologies Ltd lifted its stake in Donegal Group by 1.0% in the third quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider’s stock worth $2,576,000 after acquiring an additional 1,274 shares during the last quarter. Finally, Mariner LLC grew its holdings in Donegal Group by 9.9% during the 4th quarter. Mariner LLC now owns 14,874 shares of the insurance provider’s stock worth $297,000 after acquiring an additional 1,342 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DGICA. Keefe, Bruyette & Woods reduced their price target 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 downgraded shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Donegal Group has a consensus rating of “Hold” and a consensus price target of $18.00.

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.