Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases 8,000 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were acquired at an average cost of $19.49 per share, with a total value of $155,920.00. Following the completion of the transaction, the insider owned 13,776,361 shares in the company, valued at approximately $268,501,275.89. The trade was a 0.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% 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 Friday, November 21st, Mutual Insurance Co Donegal purchased 51,404 shares of Donegal Group stock. The stock was bought at an average cost of $17.86 per share, for a total transaction of $918,075.44.
• On Wednesday, November 19th, Mutual Insurance Co Donegal acquired 7,587 shares of Donegal Group stock. The shares were bought at an average price of $19.62 per share, with a total value of $148,856.94.
• On Tuesday, November 18th, Mutual Insurance Co Donegal purchased 7,104 shares of Donegal Group stock. The shares were bought at an average price of $19.84 per share, with a total value of $140,943.36.
• On Monday, November 17th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.91 per share, with a total value of $159,280.00.
• On Friday, November 14th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.92 per share, with a total value of $159,360.00.
• On Thursday, November 13th, Mutual Insurance Co Donegal bought 29,000 shares of Donegal Group stock. The stock was bought at an average price of $19.53 per share, with a total value of $566,370.00.
• On Wednesday, November 12th, Mutual Insurance Co Donegal purchased 6,794 shares of Donegal Group stock. The stock was purchased at an average cost of $19.74 per share, for a total transaction of $134,113.56.
• On Tuesday, November 11th, Mutual Insurance Co Donegal acquired 7,297 shares of Donegal Group stock. The shares were bought at an average cost of $19.66 per share, with a total value of $143,459.02.
• On Monday, November 10th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The shares were acquired 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 purchased 8,000 shares of Donegal Group stock. The shares were bought at an average price of $19.13 per share, for a total transaction of $153,040.00.

Donegal Group Trading Down 0.1%

NASDAQ:DGICA traded down $0.02 during midday trading on Monday, reaching $19.73. 22,769 shares of the stock traded hands, compared to its average volume of 129,869. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. Donegal Group, Inc. has a 12 month low of $14.17 and a 12 month high of $21.12. The stock has a market capitalization of $722.95 million, a P/E ratio of 8.30 and a beta of 0.01. The company has a fifty day moving average of $19.28 and a 200 day moving average of $18.94.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, October 30th. The insurance provider reported $0.52 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 business had revenue of $245.92 million during the quarter, compared to analyst estimates of $244.19 million. On average, research analysts predict that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were given a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, November 3rd. Donegal Group’s dividend payout ratio is 30.17%.

Institutional Investors Weigh In On Donegal Group

Large investors have recently modified their holdings of the stock. ProShare Advisors LLC acquired a new stake in Donegal Group in the second quarter valued at about $6,343,000. CSM Advisors LLC acquired a new stake in shares of Donegal Group in the second quarter valued at approximately $3,699,000. American Century Companies Inc. increased its position in Donegal Group by 294.1% during the second quarter. American Century Companies Inc. now owns 149,611 shares of the insurance provider’s stock worth $2,996,000 after buying an additional 111,647 shares in the last quarter. Two Sigma Investments LP raised its stake in Donegal Group by 139.8% in the 3rd quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock valued at $2,956,000 after purchasing an additional 88,878 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of 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 worth $7,132,000 after purchasing an additional 88,462 shares during the period. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Janney Montgomery Scott raised Donegal Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, October 8th. Wall Street Zen lowered Donegal Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Zacks Research raised Donegal Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. One 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 stock 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.