Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 7,297 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 7,297 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were bought at an average cost of $19.66 per share, for a total transaction of $143,459.02. Following the completion of the purchase, the insider owned 13,701,876 shares of the company’s stock, valued at $269,378,882.16. This represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 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, November 10th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.36 per share, for a total transaction of $154,880.00.
• On Thursday, November 6th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.13 per share, for a total transaction of $153,040.00.
• On Tuesday, November 4th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The shares were acquired at an average price of $18.71 per share, for a total transaction of $149,680.00.
• On Friday, September 12th, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The stock was acquired at an average cost 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 acquired at an average cost of $19.45 per share, with a total value of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The stock was acquired at an average cost of $18.99 per share, for a total transaction of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal purchased 19,352 shares of Donegal Group stock. The shares were bought at an average price of $19.24 per share, with a total value of $372,332.48.
• On Monday, September 8th, Mutual Insurance Co Donegal acquired 19,025 shares of Donegal Group stock. The shares were purchased at an average cost 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 stock was purchased at an average price of $19.22 per share, with a total value of $369,254.64.
• On Wednesday, September 3rd, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The shares were purchased at an average cost of $18.37 per share, for a total transaction of $367,400.00.

Donegal Group Stock Performance

DGICA stock traded up $0.07 during midday trading on Wednesday, hitting $19.80. The company’s stock had a trading volume of 10,452 shares, compared to its average volume of 130,320. The stock has a market cap of $722.70 million, a price-to-earnings ratio of 8.32 and a beta of 0.01. 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 stock’s 50-day moving average price is $19.19 and its 200 day moving average price is $18.93. Donegal Group, Inc. has a 1 year low of $14.17 and a 1 year high of $21.12.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.15. The company had revenue of $245.55 million during the quarter, compared to analyst estimates of $244.19 million. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. On average, equities analysts forecast that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be paid a $0.1825 dividend. The ex-dividend date is Monday, November 3rd. This represents a $0.73 annualized dividend and a dividend yield of 3.7%. Donegal Group’s payout ratio is presently 30.17%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Donegal Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jump Financial LLC grew its holdings in Donegal Group by 3.1% in the 1st quarter. Jump Financial LLC now owns 17,952 shares of the insurance provider’s stock worth $352,000 after acquiring an additional 533 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Donegal Group by 5.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,578 shares of the insurance provider’s stock valued at $282,000 after purchasing an additional 703 shares during the last quarter. CWM LLC lifted its holdings in Donegal Group by 21.9% in the 2nd quarter. CWM LLC now owns 6,293 shares of the insurance provider’s stock worth $126,000 after buying an additional 1,130 shares during the period. Martingale Asset Management L P grew its position in shares of Donegal Group by 4.2% in the 1st quarter. Martingale Asset Management L P now owns 28,509 shares of the insurance provider’s stock worth $560,000 after buying an additional 1,156 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Donegal Group by 79.1% during the third quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock valued at $58,000 after buying an additional 1,329 shares during the period. Institutional investors own 27.96% of the company’s stock.

Donegal Group Company Profile

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.