Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $140,550.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 7,500 shares of the firm’s stock in a transaction dated Friday, November 6th. The shares were bought at an average cost of $18.74 per share, with a total value of $140,550.00. Following the completion of the acquisition, the insider directly owned 14,435,128 shares of the company’s stock, valued at $270,514,298.72. The trade was a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 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, November 5th, Mutual Insurance Co Donegal acquired 25,500 shares of Donegal Group stock. The shares were bought at an average price of $18.86 per share, for a total transaction of $480,930.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal bought 7,500 shares of Donegal Group stock. The stock was bought at an average price of $18.69 per share, for a total transaction of $140,175.00.
• On Friday, September 11th, Mutual Insurance Co Donegal bought 54,725 shares of Donegal Group stock. The stock was bought at an average cost of $19.23 per share, with a total value of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal bought 13,469 shares of Donegal Group stock. The shares were bought at an average price of $19.13 per share, with a total value of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.13 per share, for a total transaction of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.14 per share, for a total transaction of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal purchased 6,368 shares of Donegal Group stock. The stock was purchased at an average price of $19.39 per share, for a total transaction of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal acquired 9,595 shares of Donegal Group stock. The stock was purchased at an average cost of $19.53 per share, with a total value of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average price of $19.43 per share, with a total value of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal acquired 9,257 shares of Donegal Group stock. The shares were purchased at an average price of $19.17 per share, with a total value of $177,456.69.

Donegal Group Stock Down 0.1%

DGICA stock opened at $18.95 on Thursday. The company has a market cap of $703.42 million, a price-to-earnings ratio of 10.25 and a beta of -0.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.40. The business’s 50-day moving average is $18.68 and its two-hundred day moving average is $18.15. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Donegal Group had a return on equity of 10.45% and a net margin of 7.24%. The business had revenue of $237.66 million during the quarter, compared to the consensus estimate of $214.12 million. As a group, analysts forecast that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a $0.1925 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.1%. Donegal Group’s dividend payout ratio (DPR) is presently 41.18%.

Hedge Funds Weigh In On Donegal Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in Donegal Group by 214.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider’s stock worth $105,000 after buying an additional 4,016 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Donegal Group by 27.8% in the second quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock worth $174,000 after buying an additional 2,004 shares during the period. Virtus Advisers LLC raised its stake in shares of Donegal Group by 16.8% in the third quarter. Virtus Advisers LLC now owns 9,866 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,417 shares during the period. State of Wyoming purchased a new position in shares of Donegal Group during the 3rd quarter valued at about $177,000. Finally, Amundi purchased a new position in shares of Donegal Group during the 1st quarter valued at about $206,000. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DGICA. Zacks Research upgraded shares of Donegal Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 16th. Weiss Ratings upgraded shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Donegal Group has a consensus rating of “Hold” and an average target price of $20.00.

Donegal Group Company Profile

Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.