Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Acquires $141,600.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 7,500 shares of the business’s stock in a transaction on Wednesday, November 11th. The stock was purchased at an average cost of $18.88 per share, for a total transaction of $141,600.00. Following the completion of the acquisition, the insider directly owned 14,457,628 shares of the company’s stock, valued at approximately $272,960,016.64. The trade was a 0.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more 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 Monday, November 9th, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The shares were acquired at an average cost of $18.81 per share, for a total transaction of $141,075.00.
• On Friday, November 6th, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The shares were acquired at an average price of $18.74 per share, with a total value of $140,550.00.
• On Thursday, November 5th, Mutual Insurance Co Donegal acquired 25,500 shares of Donegal Group stock. The stock was acquired at an average cost of $18.86 per share, with a total value of $480,930.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal bought 7,500 shares of Donegal Group stock. The shares were acquired at an average price of $18.69 per share, for a total transaction of $140,175.00.
• On Friday, September 11th, Mutual Insurance Co Donegal bought 54,725 shares of Donegal Group stock. The shares were acquired at an average cost of $19.23 per share, for a total transaction of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal purchased 13,469 shares of Donegal Group stock. The stock was 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 purchased 10,000 shares of Donegal Group stock. The stock was 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 purchased 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 acquired 6,368 shares of Donegal Group stock. The shares were bought at an average price of $19.39 per share, for a total transaction of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal acquired 9,595 shares of Donegal Group stock. The stock was bought at an average cost of $19.53 per share, with a total value of $187,390.35.

Donegal Group Stock Down 0.1%

DGICA stock opened at $18.95 on Thursday. The firm has a 50 day moving average of $18.68 and a 200 day moving average of $18.15. The stock has a market capitalization of $703.42 million, a PE ratio of 10.25 and a beta of -0.03. The company has a quick ratio of 0.39, a current ratio of 0.40 and a debt-to-equity ratio of 0.05. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $237.66 million for the quarter, compared to analyst estimates of $214.12 million. Donegal Group had a net margin of 7.24% and a return on equity of 10.45%. Sell-side 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 announced 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 dividend on an annualized basis and a yield of 4.1%. Donegal Group’s dividend payout ratio (DPR) is 41.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Zacks Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a 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 stock presently has a consensus rating of “Hold” and an average price target of $20.00.

Institutional Trading of Donegal Group

Hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its holdings in Donegal Group by 41.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after buying an additional 80,614 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Donegal Group by 5.8% during the 1st quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock worth $6,747,000 after acquiring an additional 21,500 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Donegal Group during the 2nd quarter valued at about $344,000. Ancora Advisors LLC acquired a new stake in shares of Donegal Group during the 2nd quarter valued at about $273,000. Finally, Amundi acquired a new stake in Donegal Group in the first quarter valued at approximately $206,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

About Donegal Group

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.