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

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 8,500 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average price of $17.33 per share, with a total value of $147,305.00. Following the acquisition, the insider directly owned 14,064,609 shares in the company, valued at approximately $243,739,673.97. The trade was a 0.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% 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, May 22nd, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was bought 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 stock was bought 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 stock was bought 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 stock was bought 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 stock was bought at an average price of $17.16 per share, with a total value of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was bought at an average price of $16.86 per share, with a total value of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.18 per share, with a total value of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal purchased 8,077 shares of Donegal Group stock. The stock was acquired at an average cost of $17.13 per share, with a total value of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.06 per share, with a total value of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $16.50 per share, with a total value of $140,250.00.

Donegal Group Stock Performance

Shares of DGICA stock opened at $17.07 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. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The stock has a market capitalization of $632.44 million, a PE ratio of 9.54 and a beta of 0.01. The firm has a 50 day moving average of $17.25 and a two-hundred day moving average of $18.45.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The business had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $247.83 million. On average, research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.1925 per share. This is an increase 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 annualized dividend and a dividend yield of 4.5%. Donegal Group’s dividend payout ratio is presently 43.02%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DGICA shares. Weiss Ratings cut shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods decreased their price objective on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.00.

Institutional Investors Weigh In On Donegal Group

Institutional investors have recently modified their holdings of the company. Sierra Summit Advisors LLC purchased a new stake in Donegal Group in the third quarter valued at $799,000. TrueMark Investments LLC purchased a new stake in Donegal Group in the fourth quarter valued at $291,000. SG Americas Securities LLC purchased a new position in shares of Donegal Group during the fourth quarter worth approximately $112,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Donegal Group by 18.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,160 shares of the insurance provider’s stock worth $415,000 after acquiring an additional 3,301 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Donegal Group by 171.7% during the third quarter. JPMorgan Chase & Co. now owns 22,712 shares of the insurance provider’s stock worth $440,000 after acquiring an additional 14,352 shares during the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.