Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Buys 10,000 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of the stock in a transaction on Friday, August 21st. The stock was bought at an average price of $18.68 per share, with a total value of $186,800.00. Following the transaction, the insider directly owned 14,204,206 shares in the company, valued at approximately $265,334,568.08. This represents a 0.07% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Monday, August 24th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average price of $19.06 per share, for a total transaction of $190,600.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal purchased 9,815 shares of Donegal Group stock. The stock was bought at an average cost of $18.66 per share, with a total value of $183,147.90.
• On Wednesday, August 19th, Mutual Insurance Co Donegal acquired 9,700 shares of Donegal Group stock. The stock was bought at an average price of $18.61 per share, with a total value of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $18.52 per share, for a total transaction of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal acquired 18,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.67 per share, for a total transaction of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal bought 9,682 shares of Donegal Group stock. The shares were purchased at an average price of $17.62 per share, with a total value of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal purchased 9,900 shares of Donegal Group stock. The shares were purchased at an average cost of $17.56 per share, for a total transaction of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $16.62 per share, for a total transaction of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.76 per share, with a total value of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $16.98 per share, with a total value of $144,330.00.

Donegal Group Trading Up 0.2%

Shares of NASDAQ DGICA traded up $0.03 during mid-day trading on Tuesday, hitting $19.01. The company’s stock had a trading volume of 23,178 shares, compared to its average volume of 127,371. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 9.85 and a beta of -0.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. Donegal Group, Inc. has a one year low of $16.11 and a one year high of $21.06. The company’s fifty day simple moving average is $18.74 and its 200-day simple moving average is $17.89.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The business had revenue of $241.12 million during the quarter, compared to the consensus estimate of $231.53 million. On average, sell-side analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s dividend payout ratio (DPR) is presently 39.90%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of Donegal Group by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock valued at $29,846,000 after purchasing an additional 7,345 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Donegal Group by 4.0% during the third quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider’s stock worth $19,549,000 after buying an additional 39,181 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Donegal Group by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 534,703 shares of the insurance provider’s stock valued at $10,685,000 after acquiring an additional 11,891 shares in the last quarter. Renaissance Technologies LLC grew its position in 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 during the last quarter. Finally, State Street Corp grew its position in Donegal Group by 0.8% during the 4th quarter. State Street Corp now owns 391,729 shares of the insurance provider’s stock worth $7,827,000 after acquiring an additional 3,290 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

Wall Street Analyst Weigh In

DGICA has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

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.