Donegal Group (NASDAQ:DGICA) Stock: Insider Mutual Insurance Co Donegal Buys 7,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock in a transaction dated Tuesday, November 3rd. The shares were bought at an average cost of $18.69 per share, with a total value of $140,175.00. Following the transaction, the insider owned 14,394,628 shares in the company, valued at approximately $269,035,597.32. 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 this hyperlink. Large shareholders that own at least 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 Friday, September 11th, Mutual Insurance Co Donegal purchased 54,725 shares of Donegal Group stock. The stock was acquired 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 bought 13,469 shares of Donegal Group stock. The shares were purchased 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 acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $19.13 per share, for a total transaction of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought 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 acquired 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 acquired 9,595 shares of Donegal Group stock. The stock was acquired at an average price of $19.53 per share, for a total transaction of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.43 per share, for a total transaction of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal bought 9,257 shares of Donegal Group stock. The shares were bought at an average cost of $19.17 per share, for a total transaction of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.18 per share, for a total transaction of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average price of $18.95 per share, with a total value of $189,500.00.

Donegal Group Stock Performance

NASDAQ:DGICA opened at $18.73 on Friday. The stock has a market cap of $695.26 million, a PE ratio of 10.14 and a beta of -0.03. The firm’s fifty day simple moving average is $18.70 and its 200-day simple moving average is $18.14. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Donegal Group had a return on equity of 10.49% and a net margin of 7.24%. The business had revenue of $237.66 million during the quarter, compared to analysts’ expectations of $214.12 million. Analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DGICA. Zacks Research upgraded Donegal Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. Weiss Ratings raised shares of 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.00.

Institutional Trading of Donegal Group

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position 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 purchasing an additional 7,345 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Donegal Group by 5.8% in 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 during the period. Arrowstreet Capital Limited Partnership increased its position in Donegal Group by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock worth $4,746,000 after purchasing an additional 80,614 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Donegal Group by 5.8% in the 1st quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock valued at $2,862,000 after purchasing an additional 9,075 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in shares of Donegal Group by 3.5% in the third quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider’s stock worth $1,710,000 after purchasing an additional 3,264 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Donegal Group Company Profile

Donegal Group Inc (NASDAQ: DGICA) is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.

Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers’ compensation coverage, along with other specialized property and casualty policies.

Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.