Mutual Insurance Co Donegal Buys 8,500 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average price of $17.40 per share, with a total value of $147,900.00. Following the completion of the acquisition, the insider directly owned 14,056,109 shares of the company’s stock, valued at $244,576,296.60. This represents a 0.06% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 Wednesday, May 20th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were bought at an average price of $17.43 per share, for a total transaction of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal purchased 8,328 shares of Donegal Group stock. The shares were bought at an average price of $17.48 per share, with a total value of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was bought at an average cost of $17.16 per share, for a total transaction of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was bought at an average price of $16.86 per share, with a total value of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $17.18 per share, with a total value of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal purchased 8,077 shares of Donegal Group stock. The shares were bought at an average price of $17.13 per share, for a total transaction of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.06 per share, for a total transaction of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.50 per share, with a total value of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal acquired 9,000 shares of Donegal Group stock. The shares were purchased at an average cost of $17.63 per share, with a total value of $158,670.00.

Donegal Group Stock Performance

NASDAQ:DGICA opened at $17.06 on Thursday. Donegal Group, Inc. has a 1 year low of $16.11 and a 1 year high of $21.06. The firm’s fifty day simple moving average is $17.25 and its 200 day simple moving average is $18.47. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $632.07 million, a PE ratio of 9.53 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The firm had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. On average, sell-side analysts anticipate that Donegal Group, Inc. will post 1.7 EPS for the current year.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, May 1st. This is a positive change from Donegal Group’s previous quarterly dividend of $0.18. Donegal Group’s dividend payout ratio is currently 43.02%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DGICA. Keefe, Bruyette & Woods reduced their price objective on Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, May 1st. Weiss Ratings downgraded shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DGICA. State of Alaska Department of Revenue acquired a new stake in shares of Donegal Group in the 3rd quarter valued at $26,000. Smartleaf Asset Management LLC increased its position in shares of Donegal Group by 576.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 2,341 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 2,975 shares during the last quarter. IFP Advisors Inc lifted its holdings in Donegal Group by 1,377.6% during the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 3,513 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in Donegal Group by 31.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after buying an additional 896 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Donegal Group Company Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.