Mutual Insurance Co Donegal Acquires 27,524 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 27,524 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was purchased at an average price of $19.53 per share, with a total value of $537,543.72. Following the completion of the acquisition, the insider directly owned 13,862,885 shares in the company, valued at approximately $270,742,144.05. This represents a 0.20% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major 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 Tuesday, December 9th, Mutual Insurance Co Donegal acquired 28,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.81 per share, for a total transaction of $554,680.00.
• On Monday, December 1st, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The stock was purchased at an average price of $20.20 per share, with a total value of $303,000.00.
• On Wednesday, November 26th, Mutual Insurance Co Donegal purchased 5,000 shares of Donegal Group stock. The shares were acquired at an average price of $20.25 per share, for a total transaction of $101,250.00.
• On Tuesday, November 25th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The shares were acquired at an average cost of $20.18 per share, for a total transaction of $161,440.00.
• On Friday, November 21st, Mutual Insurance Co Donegal acquired 51,404 shares of Donegal Group stock. The stock was acquired at an average price of $17.86 per share, with a total value of $918,075.44.
• On Thursday, November 20th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The shares were acquired at an average cost of $19.49 per share, for a total transaction of $155,920.00.
• On Wednesday, November 19th, Mutual Insurance Co Donegal bought 7,587 shares of Donegal Group stock. The stock was acquired at an average price of $19.62 per share, for a total transaction of $148,856.94.
• On Tuesday, November 18th, Mutual Insurance Co Donegal purchased 7,104 shares of Donegal Group stock. The stock was acquired at an average cost of $19.84 per share, with a total value of $140,943.36.
• On Monday, November 17th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.91 per share, for a total transaction of $159,280.00.
• On Friday, November 14th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The stock was bought at an average price of $19.92 per share, for a total transaction of $159,360.00.

Donegal Group Trading Up 0.7%

Shares of NASDAQ DGICA traded up $0.13 during midday trading on Wednesday, reaching $19.98. The company had a trading volume of 26,182 shares, compared to its average volume of 129,208. The stock has a market cap of $732.18 million, a PE ratio of 8.25 and a beta of 0.04. Donegal Group, Inc. has a one year low of $14.17 and a one year high of $21.12. The firm’s fifty day moving average price is $19.45 and its 200-day moving average price is $18.93. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.15. Donegal Group had a return on equity of 14.28% and a net margin of 8.72%.The business had revenue of $245.92 million for the quarter, compared to analyst estimates of $244.19 million. On average, equities research analysts anticipate that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were paid a $0.1825 dividend. This represents a $0.73 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, November 3rd. Donegal Group’s payout ratio is presently 30.17%.

Institutional Investors Weigh In On Donegal Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Donegal Group by 2.1% during the first quarter. Vanguard Group Inc. now owns 946,432 shares of the insurance provider’s stock valued at $18,578,000 after buying an additional 19,174 shares during the period. Deutsche Bank AG grew its holdings in shares of Donegal Group by 566.5% during the 1st quarter. Deutsche Bank AG now owns 12,863 shares of the insurance provider’s stock worth $253,000 after acquiring an additional 10,933 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Donegal Group by 13.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 267,692 shares of the insurance provider’s stock worth $5,255,000 after acquiring an additional 31,946 shares during the period. Invesco Ltd. raised its position in shares of Donegal Group by 18.4% in the 1st quarter. Invesco Ltd. now owns 40,999 shares of the insurance provider’s stock worth $805,000 after acquiring an additional 6,377 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Donegal Group in the 1st quarter valued at approximately $556,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on DGICA shares. Weiss Ratings reissued a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, October 8th. Janney Montgomery Scott raised shares of Donegal Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 2nd. Finally, Zacks Research upgraded shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $18.00.

Donegal Group Company Profile

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.