Donegal Group (NASDAQ:DGICA) Major Shareholder Acquires 10,000 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were acquired at an average cost of $19.43 per share, for a total transaction of $194,300.00. Following the completion of the purchase, the insider directly owned 14,282,971 shares of the company’s stock, valued at approximately $277,518,126.53. This represents a 0.07% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Thursday, September 3rd, Mutual Insurance Co Donegal acquired 9,595 shares of Donegal Group stock. The stock was acquired at an average cost of $19.53 per share, with a total value of $187,390.35.
• On Tuesday, September 1st, Mutual Insurance Co Donegal bought 9,257 shares of Donegal Group stock. The shares were acquired at an average cost of $19.17 per share, for a total transaction of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average cost of $19.18 per share, for a total transaction of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was 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 stock was acquired at an average cost of $19.11 per share, with a total value of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were 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 shares were bought at an average cost of $18.68 per share, for a total transaction of $186,800.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal acquired 9,815 shares of Donegal Group stock. The stock was bought at an average price of $18.66 per share, for a total transaction of $183,147.90.
• On Wednesday, August 19th, Mutual Insurance Co Donegal bought 9,700 shares of Donegal Group stock. The stock was bought at an average cost of $18.61 per share, with a total value of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $18.52 per share, with a total value of $185,200.00.

Donegal Group Trading Up 0.4%

Shares of DGICA stock opened at $19.42 on Friday. The business has a 50-day moving average of $18.97 and a 200 day moving average of $17.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. Donegal Group, Inc. has a 1-year low of $16.11 and a 1-year high of $21.06. The stock has a market capitalization of $720.87 million, a PE ratio of 10.06 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. The business had revenue of $241.12 million for the quarter, compared to analysts’ expectations of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. As a group, sell-side analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders 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 dividend yield of 4.0%. Donegal Group’s dividend payout ratio (DPR) is currently 39.90%.

Institutional Investors Weigh In On Donegal Group

A number of large investors have recently made changes to their positions in DGICA. CANADA LIFE ASSURANCE Co lifted its stake in Donegal Group by 31.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 896 shares during the period. Strs Ohio lifted its position in shares of Donegal Group by 3.7% in the 4th quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock worth $565,000 after purchasing an additional 1,000 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Donegal Group by 8.9% during 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 buying an additional 1,000 shares during the period. Qube Research & Technologies Ltd raised 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 buying an additional 1,274 shares in the last quarter. Finally, Mariner LLC lifted its holdings in Donegal Group by 9.9% in the fourth quarter. Mariner LLC now owns 14,874 shares of the insurance provider’s stock worth $297,000 after buying an additional 1,342 shares during the period. 27.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Weiss Ratings upgraded shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. Keefe, Bruyette & Woods raised their price target on shares of Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Donegal Group currently has a consensus rating of “Hold” and an average 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.