Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 10,000 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was acquired at an average price of $18.52 per share, for a total transaction of $185,200.00. Following the purchase, the insider owned 14,164,691 shares in the company, valued at $262,330,077.32. This trade represents a 0.07% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 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 Thursday, August 6th, Mutual Insurance Co Donegal purchased 18,000 shares of Donegal Group stock. The stock was acquired at an average price of $19.67 per share, for a total transaction of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal acquired 9,682 shares of Donegal Group stock. The shares were purchased at an average price of $17.62 per share, for a total transaction of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal acquired 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 acquired 10,000 shares of Donegal Group stock. The shares were purchased 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 acquired 8,500 shares of Donegal Group stock. The stock was acquired 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 acquired 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 purchased 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 22nd, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.40 per share, for a total transaction of $147,900.00.

Donegal Group Price Performance

DGICA opened at $18.51 on Thursday. 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 current ratio of 0.39 and a quick ratio of 0.39. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 9.59 and a beta of -0.01. The firm’s fifty day moving average price is $18.66 and its two-hundred day moving average price is $17.89.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.11. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The firm had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.1925 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.77 annualized dividend and a yield of 4.2%. Donegal Group’s dividend payout ratio is 39.90%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DGICA. Keefe, Bruyette & Woods boosted their price target on 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 analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Donegal Group has an average rating of “Moderate Buy” and an average price target of $20.00.

Institutional Investors Weigh In On Donegal Group

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Donegal Group by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock valued at $29,846,000 after purchasing an additional 7,345 shares during the period. Vanguard Group Inc. lifted its position in shares of Donegal Group by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider’s stock worth $19,549,000 after purchasing an additional 39,181 shares during the period. Geode Capital Management LLC increased its holdings in shares of Donegal Group by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 534,703 shares of the insurance provider’s stock valued at $10,685,000 after acquiring an additional 11,891 shares during the period. Renaissance Technologies LLC grew its position in shares of Donegal Group by 5.8% in the 1st quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock worth $6,747,000 after buying an additional 21,500 shares during the last quarter. Finally, State Street Corp grew its stake in Donegal Group by 0.8% during the 4th quarter. State Street Corp now owns 391,729 shares of the insurance provider’s stock worth $7,827,000 after buying an additional 3,290 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.

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.