Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 25,500 Shares of Company Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 25,500 shares of Donegal Group stock in a transaction dated Thursday, November 5th. The stock was acquired at an average cost of $18.86 per share, with a total value of $480,930.00. Following the completion of the acquisition, the insider owned 14,427,628 shares of the company’s stock, valued at $272,105,064.08. This represents a 0.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, November 6th, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The shares were acquired at an average cost of $18.74 per share, with a total value of $140,550.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The stock was acquired at an average cost of $18.69 per share, for a total transaction of $140,175.00.
• On Friday, September 11th, Mutual Insurance Co Donegal acquired 54,725 shares of Donegal Group stock. The stock was acquired at an average price of $19.23 per share, with a total value of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal bought 13,469 shares of Donegal Group stock. The shares were acquired at an average cost of $19.13 per share, with a total value of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average cost of $19.13 per share, with a total value of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.14 per share, for a total transaction of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal purchased 6,368 shares of Donegal Group stock. The stock was bought at an average cost of $19.39 per share, for a total transaction of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal purchased 9,595 shares of Donegal Group stock. The shares were bought at an average price of $19.53 per share, with a total value of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average price of $19.43 per share, with a total value of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal acquired 9,257 shares of Donegal Group stock. The shares were bought at an average price of $19.17 per share, with a total value of $177,456.69.

Donegal Group Stock Performance

Shares of DGICA stock opened at $18.73 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $695.26 million, a price-to-earnings ratio of 10.02 and a beta of -0.03. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The firm’s 50-day simple moving average is $18.69 and its two-hundred day simple moving average is $18.14.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Donegal Group had a net margin of 7.24% and a return on equity of 10.49%. The firm had revenue of $237.66 million during the quarter, compared to the consensus estimate of $214.12 million. As a group, equities analysts forecast that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be paid a $0.1925 dividend. The ex-dividend date is Monday, November 2nd. This represents a $0.77 annualized dividend and a yield of 4.1%. Donegal Group’s dividend payout ratio is presently 41.18%.

Hedge Funds Weigh In On Donegal Group

Several large investors have recently modified their holdings of DGICA. Nisa Investment Advisors LLC raised its position in shares of Donegal Group by 214.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 4,016 shares during the period. IFP Advisors Inc boosted its holdings in Donegal Group by 27.8% in the 2nd quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock worth $174,000 after buying an additional 2,004 shares during the period. Virtus Advisers LLC boosted its holdings in Donegal Group by 16.8% in the 3rd quarter. Virtus Advisers LLC now owns 9,866 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,417 shares during the period. State of Wyoming purchased a new position in Donegal Group in the 3rd quarter valued at approximately $177,000. Finally, Allianz Asset Management GmbH purchased a new position in Donegal Group in the 2nd quarter valued at approximately $220,000. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DGICA shares. Zacks Research raised Donegal Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 16th. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.00.

Donegal Group Company Profile

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies.

The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.

Donegal Group was organized in 1986 as a publicly traded affiliate of Donegal Mutual Insurance Company, whose roots date to the late 19th century.