Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 8,000 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock in a transaction dated Tuesday, November 4th. The stock was purchased at an average cost of $18.71 per share, for a total transaction of $149,680.00. Following the completion of the purchase, the insider directly owned 13,662,579 shares in the company, valued at approximately $255,626,853.09. This represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 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 Friday, September 12th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The shares were bought at an average price of $19.53 per share, for a total transaction of $390,600.00.
• On Thursday, September 11th, Mutual Insurance Co Donegal bought 16,573 shares of Donegal Group stock. The shares were bought at an average price of $19.45 per share, for a total transaction of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The shares were bought at an average price of $18.99 per share, for a total transaction of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal bought 19,352 shares of Donegal Group stock. The shares were bought at an average price of $19.24 per share, for a total transaction of $372,332.48.
• On Monday, September 8th, Mutual Insurance Co Donegal bought 19,025 shares of Donegal Group stock. The shares were bought at an average price of $19.10 per share, for a total transaction of $363,377.50.
• On Thursday, September 4th, Mutual Insurance Co Donegal bought 19,212 shares of Donegal Group stock. The shares were bought at an average price of $19.22 per share, for a total transaction of $369,254.64.
• On Wednesday, September 3rd, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The shares were bought at an average price of $18.37 per share, for a total transaction of $367,400.00.
• On Tuesday, September 2nd, Mutual Insurance Co Donegal bought 19,440 shares of Donegal Group stock. The shares were bought at an average price of $18.27 per share, for a total transaction of $355,168.80.
• On Friday, August 29th, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The shares were acquired at an average price of $17.84 per share, with a total value of $356,800.00.
• On Thursday, August 28th, Mutual Insurance Co Donegal acquired 8,032 shares of Donegal Group stock. The shares were acquired at an average price of $17.61 per share, with a total value of $141,443.52.

Donegal Group Price Performance

Shares of NASDAQ DGICA opened at $19.26 on Thursday. Donegal Group, Inc. has a fifty-two week low of $14.17 and a fifty-two week high of $21.12. The business has a 50 day moving average price of $19.08 and a two-hundred day moving average price of $18.92. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06. The firm has a market cap of $703.16 million and a PE ratio of 8.09.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, October 30th. The insurance provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%.The firm had revenue of $245.55 million during the quarter, compared to analyst estimates of $244.19 million. Sell-side analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be given a $0.1825 dividend. The ex-dividend date is Monday, November 3rd. This represents a $0.73 annualized dividend and a dividend yield of 3.8%. Donegal Group’s dividend payout ratio (DPR) is presently 30.17%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DGICA. Zacks Research upgraded Donegal Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Janney Montgomery Scott upgraded Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. Wall Street Zen lowered Donegal Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $18.00.

Institutional Trading of Donegal Group

Several hedge funds have recently made changes to their positions in DGICA. Vanguard Group Inc. raised its stake in Donegal Group by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 946,432 shares of the insurance provider’s stock valued at $18,578,000 after acquiring an additional 19,174 shares in the last quarter. Geode Capital Management LLC raised its stake in Donegal Group by 6.6% during the 2nd quarter. Geode Capital Management LLC now owns 409,082 shares of the insurance provider’s stock valued at $8,193,000 after acquiring an additional 25,259 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Donegal Group by 33.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider’s stock valued at $7,132,000 after acquiring an additional 88,462 shares in the last quarter. ProShare Advisors LLC raised its stake in Donegal Group by 5.0% during the 3rd quarter. ProShare Advisors LLC now owns 332,503 shares of the insurance provider’s stock valued at $6,447,000 after acquiring an additional 15,765 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Donegal Group by 9.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 208,922 shares of the insurance provider’s stock valued at $4,051,000 after acquiring an additional 17,546 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.