Donegal Group (NASDAQ:DGICA) Major Shareholder Buys 29,000 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 29,000 shares of Donegal Group stock in a transaction that occurred on Thursday, November 13th. The stock was bought at an average cost of $19.53 per share, with a total value of $566,370.00. Following the completion of the purchase, the insider owned 13,737,670 shares in the company, valued at approximately $268,296,695.10. This trade represents a 0.21% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, November 12th, Mutual Insurance Co Donegal bought 6,794 shares of Donegal Group stock. The stock was purchased at an average price of $19.74 per share, for a total transaction of $134,113.56.
• On Tuesday, November 11th, Mutual Insurance Co Donegal acquired 7,297 shares of Donegal Group stock. The stock was acquired at an average price of $19.66 per share, for a total transaction of $143,459.02.
• On Monday, November 10th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.36 per share, for a total transaction of $154,880.00.
• On Thursday, November 6th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.13 per share, with a total value of $153,040.00.
• On Tuesday, November 4th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The stock was purchased at an average price of $18.71 per share, with a total value of $149,680.00.
• On Friday, September 12th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.53 per share, with a total value of $390,600.00.
• On Thursday, September 11th, Mutual Insurance Co Donegal purchased 16,573 shares of Donegal Group stock. The stock was bought at an average price of $19.45 per share, for a total transaction of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The shares were bought at an average cost of $18.99 per share, for a total transaction of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal purchased 19,352 shares of Donegal Group stock. The shares were acquired at an average price of $19.24 per share, for a total transaction of $372,332.48.
• On Monday, September 8th, Mutual Insurance Co Donegal acquired 19,025 shares of Donegal Group stock. The stock was acquired at an average cost of $19.10 per share, for a total transaction of $363,377.50.

Donegal Group Stock Up 0.4%

DGICA stock traded up $0.09 during trading on Friday, reaching $19.98. 21,649 shares of the stock were exchanged, compared to its average volume of 130,143. The firm has a market cap of $729.41 million, a P/E ratio of 8.37 and a beta of 0.01. The firm’s 50 day moving average is $19.23 and its 200 day moving average is $18.95. Donegal Group, Inc. has a twelve month low of $14.17 and a twelve month high of $21.12. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. The company had revenue of $245.92 million for the quarter, compared to analyst estimates of $244.19 million. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. As a group, research analysts forecast that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be issued a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, November 3rd. Donegal Group’s dividend payout ratio (DPR) is 30.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DGICA shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Donegal Group from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Zacks Research raised shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Janney Montgomery Scott raised shares of Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Donegal Group has a consensus rating of “Buy” and a consensus target price of $18.00.

Hedge Funds Weigh In On Donegal Group

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new stake in shares of Donegal Group in the 3rd quarter worth $26,000. Allworth Financial LP increased its holdings in shares of Donegal Group by 477.2% in the 2nd quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 2,448 shares during the period. Versant Capital Management Inc lifted its stake in shares of Donegal Group by 79.1% during the 3rd quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock worth $58,000 after purchasing an additional 1,329 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Donegal Group by 422.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 2,975 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Donegal Group by 443.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after purchasing an additional 4,022 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.