Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases 15,000 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 15,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was bought at an average price of $20.20 per share, with a total value of $303,000.00. Following the transaction, the insider owned 13,820,361 shares in the company, valued at approximately $279,171,292.20. This represents a 0.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 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 Wednesday, November 26th, Mutual Insurance Co Donegal purchased 5,000 shares of Donegal Group stock. The shares were bought at an average price of $20.25 per share, for a total transaction of $101,250.00.
• On Tuesday, November 25th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The stock was bought at an average cost of $20.18 per share, for a total transaction of $161,440.00.
• On Friday, November 21st, Mutual Insurance Co Donegal acquired 51,404 shares of Donegal Group stock. The shares were purchased at an average price of $17.86 per share, with a total value of $918,075.44.
• On Thursday, November 20th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.49 per share, with a total value of $155,920.00.
• On Wednesday, November 19th, Mutual Insurance Co Donegal bought 7,587 shares of Donegal Group stock. The stock was purchased at an average price of $19.62 per share, for a total transaction of $148,856.94.
• On Tuesday, November 18th, Mutual Insurance Co Donegal purchased 7,104 shares of Donegal Group stock. The shares were purchased at an average cost of $19.84 per share, with a total value of $140,943.36.
• On Monday, November 17th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The shares were purchased at an average price of $19.91 per share, with a total value of $159,280.00.
• On Friday, November 14th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.92 per share, for a total transaction of $159,360.00.
• On Thursday, November 13th, Mutual Insurance Co Donegal acquired 29,000 shares of Donegal Group stock. The shares were acquired 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 bought 6,794 shares of Donegal Group stock. The stock was acquired at an average price of $19.74 per share, with a total value of $134,113.56.

Donegal Group Stock Down 0.8%

Shares of DGICA traded down $0.15 during mid-day trading on Wednesday, hitting $19.72. 21,978 shares of the company’s stock were exchanged, compared to its average volume of 129,562. The firm has a fifty day moving average of $19.40 and a two-hundred day moving average of $18.95. Donegal Group, Inc. has a twelve month low of $14.17 and a twelve month high of $21.12. The stock has a market cap of $722.54 million, a price-to-earnings ratio of 8.13 and a beta of 0.04. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06.

Donegal Group (NASDAQ:DGICA) last posted its earnings results 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 8.72% and a return on equity of 14.28%. The firm had revenue of $245.92 million for the quarter, compared to the consensus estimate of $244.19 million. On average, sell-side analysts forecast that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, November 3rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.7%. Donegal Group’s payout ratio is 30.17%.

Analyst Upgrades and Downgrades

DGICA has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Janney Montgomery Scott upgraded shares of Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. Finally, Wall Street Zen downgraded shares of Donegal Group from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. 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 data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $18.00.

Hedge Funds Weigh In On Donegal Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC acquired a new stake in Donegal Group during the second quarter valued at approximately $6,343,000. CSM Advisors LLC acquired a new stake in shares of Donegal Group in the 2nd quarter valued at $3,699,000. American Century Companies Inc. boosted its stake in shares of Donegal Group by 294.1% in the 2nd quarter. American Century Companies Inc. now owns 149,611 shares of the insurance provider’s stock valued at $2,996,000 after purchasing an additional 111,647 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of Donegal Group by 139.8% in the 3rd quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock worth $2,956,000 after purchasing an additional 88,878 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position 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 in the last quarter. 27.96% of the stock is owned by institutional investors.

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.