Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 9,257 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 9,257 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was purchased at an average price of $19.17 per share, with a total value of $177,456.69. Following the transaction, the insider directly owned 14,272,971 shares in the company, valued at $273,612,854.07. 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 is accessible through the SEC website. 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 Monday, August 31st, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average cost of $19.18 per share, with a total value of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $18.95 per share, for a total transaction of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal purchased 9,508 shares of Donegal Group stock. The shares were acquired at an average cost of $19.11 per share, for a total transaction of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $19.06 per share, with a total value of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $18.68 per share, with a total value of $186,800.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal acquired 9,815 shares of Donegal Group stock. The stock was acquired at an average cost of $18.66 per share, with a total value of $183,147.90.
• On Wednesday, August 19th, Mutual Insurance Co Donegal bought 9,700 shares of Donegal Group stock. The shares were acquired at an average cost of $18.61 per share, for a total transaction of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $18.52 per share, for a total transaction of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal purchased 18,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.67 per share, with a total value of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal purchased 9,682 shares of Donegal Group stock. The stock was acquired at an average cost of $17.62 per share, with a total value of $170,596.84.

Donegal Group Stock Performance

NASDAQ DGICA opened at $19.35 on Thursday. The company has a 50-day simple moving average of $18.94 and a two-hundred day simple moving average of $17.91. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 10.03 and a beta of -0.01. 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 (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, topping 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 the consensus estimate of $231.53 million. On average, equities analysts forecast that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Announces Dividend

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

Institutional Trading of Donegal Group

A number of institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in shares of Donegal Group by 576.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 2,341 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Donegal Group by 422.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after buying an additional 2,975 shares during the period. IFP Advisors Inc lifted its holdings in Donegal Group by 1,377.6% in the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after buying an additional 3,513 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Donegal Group by 31.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after buying an additional 896 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Donegal Group by 443.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after buying an additional 4,022 shares during the last quarter. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DGICA. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Keefe, Bruyette & Woods lifted 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. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Donegal Group has a consensus rating of “Hold” and a consensus 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.