Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 10,000 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were bought at an average cost of $18.95 per share, for a total transaction of $189,500.00. Following the completion of the acquisition, the insider directly owned 14,243,714 shares of the company’s stock, valued at approximately $269,918,380.30. This represents a 0.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 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 Wednesday, August 26th, Mutual Insurance Co Donegal acquired 9,508 shares of Donegal Group stock. The shares were bought at an average price of $19.11 per share, with a total value of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average cost of $19.06 per share, for a total transaction of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $18.68 per share, for a total transaction of $186,800.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal purchased 9,815 shares of Donegal Group stock. The shares were acquired at an average cost of $18.66 per share, with a total value of $183,147.90.
• On Wednesday, August 19th, Mutual Insurance Co Donegal purchased 9,700 shares of Donegal Group stock. The stock was acquired at an average cost of $18.61 per share, with a total value of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was bought at an average price of $18.52 per share, with a total value of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal acquired 18,000 shares of Donegal Group stock. The stock was bought at an average price of $19.67 per share, with a total value of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal bought 9,682 shares of Donegal Group stock. The shares were purchased at an average price of $17.62 per share, with a total value of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal acquired 9,900 shares of Donegal Group stock. The shares were purchased at an average cost of $17.56 per share, with a total value of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $16.62 per share, for a total transaction of $166,200.00.

Donegal Group Stock Performance

Shares of Donegal Group stock opened at $19.12 on Tuesday. The firm has a fifty day moving average of $18.90 and a two-hundred day moving average of $17.90. The stock has a market capitalization of $709.73 million, a price-to-earnings ratio of 9.91 and a beta of -0.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.11. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The firm had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. As a group, equities research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.1925 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.0%. Donegal Group’s dividend payout ratio (DPR) is currently 39.90%.

Analyst Ratings Changes

Several analysts recently commented on DGICA shares. Keefe, Bruyette & Woods lifted their target price on shares of Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.00.

Institutional Trading of Donegal Group

A number of hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in 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 buying an additional 2,341 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after buying an additional 2,975 shares during the period. IFP Advisors Inc grew its holdings in Donegal Group by 1,377.6% in the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after purchasing an additional 3,513 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Donegal Group by 31.6% in the 4th 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. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Donegal Group by 443.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after acquiring an additional 4,022 shares in the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

About Donegal Group

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.