Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $141,075.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 7,500 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was purchased at an average cost of $18.81 per share, for a total transaction of $141,075.00. Following the completion of the purchase, the insider owned 14,442,628 shares of the company’s stock, valued at $271,665,832.68. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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, November 11th, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The shares were purchased at an average price of $18.88 per share, with a total value of $141,600.00.
• On Friday, November 6th, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The shares were purchased at an average cost of $18.74 per share, with a total value of $140,550.00.
• On Thursday, November 5th, Mutual Insurance Co Donegal purchased 25,500 shares of Donegal Group stock. The shares were purchased 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 purchased 7,500 shares of Donegal Group stock. The stock was purchased 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 purchased at an average price of $19.23 per share, for a total transaction of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal acquired 13,469 shares of Donegal Group stock. The stock was purchased at an average price of $19.13 per share, for a total transaction of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased 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 acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.14 per share, with a total value of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal bought 6,368 shares of Donegal Group stock. The shares were purchased at an average price of $19.39 per share, with a total value of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal bought 9,595 shares of Donegal Group stock. The stock was acquired at an average cost of $19.53 per share, for a total transaction of $187,390.35.

Donegal Group Trading Up 0.5%

Shares of NASDAQ DGICA traded up $0.10 during trading hours on Friday, hitting $19.06. The company’s stock had a trading volume of 121,251 shares, compared to its average volume of 112,779. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The stock has a market cap of $713.23 million, a price-to-earnings ratio of 10.19 and a beta of -0.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.40. The business has a 50-day simple moving average of $18.66 and a 200-day simple moving average of $18.15.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $237.66 million during the quarter, compared to analyst estimates of $214.12 million. Donegal Group had a return on equity of 10.45% and a net margin of 7.24%. On average, analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be given a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, November 2nd. Donegal Group’s dividend payout ratio (DPR) is currently 41.18%.

Analyst Ratings Changes

Several research firms have recently issued reports on DGICA. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Zacks Research raised Donegal Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Donegal Group presently has an average rating of “Hold” and an average price target of $20.00.

Hedge Funds Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently modified their holdings of DGICA. Arrowstreet Capital Limited Partnership raised its stake 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 worth $4,746,000 after buying an additional 80,614 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Donegal Group by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock worth $29,846,000 after buying an additional 7,345 shares during the period. Bank of New York Mellon Corp lifted its holdings in Donegal Group by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock worth $2,862,000 after buying an additional 9,075 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Donegal Group by 44.9% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 36,749 shares of the insurance provider’s stock valued at $631,000 after acquiring an additional 11,386 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in Donegal Group by 26.3% during the 4th quarter. Hsbc Holdings PLC now owns 35,570 shares of the insurance provider’s stock valued at $710,000 after acquiring an additional 7,409 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

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.