Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 8,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock in a transaction on Tuesday, May 5th. The shares were bought at an average price of $16.50 per share, with a total value of $140,250.00. Following the completion of the transaction, the insider directly owned 13,946,204 shares of the company’s stock, valued at $230,112,366. This trade represents a 0.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% 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 Tuesday, March 3rd, Mutual Insurance Co Donegal bought 9,000 shares of Donegal Group stock. The shares were acquired at an average cost of $17.63 per share, with a total value of $158,670.00.

Donegal Group Stock Up 1.3%

DGICA stock opened at $16.79 on Thursday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average of $17.28 and a two-hundred day moving average of $18.65. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.12. The company has a market cap of $621.16 million, a price-to-earnings ratio of 9.42 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). Donegal Group had a return on equity of 10.41% and a net margin of 6.77%.The business had revenue of $236.00 million during the quarter, compared to analyst estimates of $247.83 million. As a group, analysts forecast that Donegal Group, Inc. will post 1.6 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a $0.1925 dividend. This is a boost from Donegal Group’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, May 1st. Donegal Group’s payout ratio is 43.02%.

Analyst Ratings Changes

DGICA has been the subject of several research reports. Keefe, Bruyette & Woods reduced their target price on Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Donegal Group by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider’s stock worth $19,549,000 after purchasing an additional 39,181 shares during the period. Geode Capital Management LLC grew its stake in shares of Donegal Group by 2.3% during the fourth 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. State Street Corp increased its holdings 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 purchasing an additional 3,290 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Donegal Group by 1.6% in the 4th quarter. Renaissance Technologies LLC now owns 371,211 shares of the insurance provider’s stock valued at $7,417,000 after purchasing an additional 5,800 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Donegal Group by 5.0% during the 3rd quarter. ProShare Advisors LLC now owns 332,503 shares of the insurance provider’s stock valued at $6,447,000 after buying an additional 15,765 shares during the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.