Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $180,517.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 9,700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average cost of $18.61 per share, with a total value of $180,517.00. Following the purchase, the insider directly owned 14,184,391 shares of the company’s stock, valued at $263,971,516.51. This trade represents a 0.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Major 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 20th, Mutual Insurance Co Donegal purchased 9,815 shares of Donegal Group stock. The shares were acquired at an average price of $18.66 per share, for a total transaction of $183,147.90.
• On Monday, August 17th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $18.52 per share, with a total value of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal bought 18,000 shares of Donegal Group stock. The shares were bought 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 bought 9,682 shares of Donegal Group stock. The shares were bought at an average cost of $17.62 per share, for a total transaction of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal purchased 9,900 shares of Donegal Group stock. The stock was bought 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 bought at an average price 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 shares were bought 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 bought 8,500 shares of Donegal Group stock. The stock was 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 shares were purchased at an average cost of $17.33 per share, for a total transaction of $147,305.00.

Donegal Group Stock Up 0.4%

NASDAQ:DGICA traded up $0.08 on Friday, hitting $18.75. The stock had a trading volume of 14,152 shares, compared to its average volume of 125,380. 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 business’s fifty day moving average is $18.68 and its 200 day moving average is $17.89. The company has a market cap of $1.24 billion, a PE ratio of 9.72 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 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 during the quarter, compared to the consensus estimate of $231.53 million. On average, equities research analysts expect that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Friday, July 31st. Donegal Group’s payout ratio is 39.90%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Donegal Group

Several institutional investors have recently made changes to their positions in the company. Royce & Associates LP raised its holdings in shares of Donegal Group by 579.4% in the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock valued at $3,394,000 after purchasing an additional 144,853 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Donegal Group by 117.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock valued at $4,718,000 after acquiring an additional 127,470 shares in the last quarter. Two Sigma Investments LP grew its stake in Donegal Group by 139.8% in the 3rd quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock valued at $2,956,000 after purchasing an additional 88,878 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Donegal Group by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after purchasing an additional 80,614 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in shares of Donegal Group by 157.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 131,574 shares of the insurance provider’s stock valued at $2,635,000 after purchasing an additional 80,395 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.