Mutual Insurance Co Donegal Buys 8,500 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 8,500 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $17.33 per share, for a total transaction of $147,305.00. Following the transaction, the insider directly owned 14,022,281 shares in the company, valued at approximately $243,006,129.73. This represents a 0.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major 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 Wednesday, May 20th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.43 per share, for a total transaction of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal purchased 8,328 shares of Donegal Group stock. The shares were purchased at an average cost of $17.48 per share, for a total transaction of $145,573.44.
• On Friday, May 15th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.16 per share, for a total transaction of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $16.86 per share, for a total transaction of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.18 per share, for a total transaction of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal acquired 8,077 shares of Donegal Group stock. The shares were acquired at an average price of $17.13 per share, for a total transaction of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.06 per share, for a total transaction of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $16.50 per share, for a total transaction of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal acquired 9,000 shares of Donegal Group stock. The shares were acquired at an average price of $17.63 per share, for a total transaction of $158,670.00.

Donegal Group Price Performance

NASDAQ DGICA opened at $17.44 on Thursday. 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’s 50 day moving average price is $17.20 and its 200-day moving average price is $18.52. Donegal Group, Inc. has a 52-week low of $16.11 and a 52-week high of $21.06. The company has a market cap of $646.15 million, a PE ratio of 9.74 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The company had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million. Sell-side analysts forecast that Donegal Group, Inc. will post 1.7 EPS for the current fiscal year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.1925 per share. The ex-dividend date of this dividend was Friday, May 1st. This is an increase from Donegal Group’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 4.4%. Donegal Group’s dividend payout ratio is 43.02%.

Institutional Investors Weigh In On Donegal Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new stake in shares of Donegal Group during the third quarter worth $26,000. Smartleaf Asset Management LLC lifted its stake in shares of Donegal Group by 576.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after buying an additional 2,341 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Donegal Group by 79.1% during the third 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 period. EverSource Wealth Advisors LLC lifted its holdings in shares of Donegal Group by 422.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 2,975 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of Donegal Group by 1,377.6% during the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after purchasing an additional 3,513 shares during the period. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DGICA has been the topic of a number of recent research reports. Keefe, Bruyette & Woods dropped their price objective on Donegal Group from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, May 1st. Weiss Ratings downgraded shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.00.

Donegal Group Company Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.