Donegal Group (NASDAQ:DGICA) Major Shareholder Buys $159,360.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 8,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was bought at an average price of $19.92 per share, for a total transaction of $159,360.00. Following the acquisition, the insider owned 13,745,670 shares of the company’s stock, valued at $273,813,746.40. This represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, November 17th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.91 per share, with a total value of $159,280.00.
• On Thursday, November 13th, Mutual Insurance Co Donegal bought 29,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.53 per share, for a total transaction of $566,370.00.
• On Wednesday, November 12th, Mutual Insurance Co Donegal purchased 6,794 shares of Donegal Group stock. The stock was bought at an average cost of $19.74 per share, with a total value of $134,113.56.
• On Tuesday, November 11th, Mutual Insurance Co Donegal acquired 7,297 shares of Donegal Group stock. The stock was bought at an average price of $19.66 per share, with a total value of $143,459.02.
• On Monday, November 10th, Mutual Insurance Co Donegal acquired 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 stock was purchased at an average cost of $19.13 per share, with a total value of $153,040.00.
• On Tuesday, November 4th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The stock was purchased at an average price of $18.71 per share, with a total value of $149,680.00.
• On Friday, September 12th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The shares were purchased 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 acquired 16,573 shares of Donegal Group stock. The stock was purchased at an average price of $19.45 per share, with a total value of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The shares were purchased at an average cost of $18.99 per share, with a total value of $379,800.00.

Donegal Group Stock Up 0.4%

Shares of DGICA stock traded up $0.08 during mid-day trading on Tuesday, reaching $19.86. 19,722 shares of the company’s stock traded hands, compared to its average volume of 130,161. The company’s 50-day moving average price is $19.26 and its 200-day moving average price is $18.95. The company has a market cap of $727.71 million, a P/E ratio of 8.34 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. Donegal Group, Inc. has a 12 month low of $14.17 and a 12 month high of $21.12.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.15. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. The company had revenue of $245.92 million during the quarter, compared to analyst estimates of $244.19 million. On average, equities analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were issued a dividend of $0.1825 per share. This represents a $0.73 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, November 3rd. Donegal Group’s dividend payout ratio (DPR) is presently 30.17%.

Institutional Trading of Donegal Group

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC raised its stake in shares of Donegal Group by 78.0% in the first quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock worth $101,000 after purchasing an additional 2,263 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Donegal Group in the 1st quarter worth about $489,000. Pinnacle Associates Ltd. bought a new position in Donegal Group during the 1st quarter valued at about $714,000. XTX Topco Ltd boosted its holdings in shares of Donegal Group by 56.8% during the 1st quarter. XTX Topco Ltd now owns 16,387 shares of the insurance provider’s stock valued at $322,000 after acquiring an additional 5,935 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 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 analysts have recently commented on DGICA shares. Zacks Research raised Donegal Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Wall Street Zen downgraded 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 research note on Tuesday, September 2nd. Finally, Weiss Ratings reaffirmed 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 issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $18.00.

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.