Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $145,573.44 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,328 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were bought at an average price of $17.48 per share, for a total transaction of $145,573.44. Following the purchase, the insider owned 14,030,609 shares in the company, valued at approximately $245,255,045.32. This represents a 0.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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, May 20th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.43 per share, with a total value of $148,155.00.
• On Monday, May 18th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost 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 stock was purchased at an average cost of $16.86 per share, with a total value of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.18 per share, for a total transaction of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal bought 8,077 shares of Donegal Group stock. The stock was purchased at an average price of $17.13 per share, with a total value of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were acquired at an average cost 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 stock was 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 stock was acquired at an average cost of $17.63 per share, with a total value of $158,670.00.

Donegal Group Stock Performance

Shares of NASDAQ DGICA opened at $17.34 on Friday. 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 company has a market capitalization of $642.45 million, a P/E ratio of 9.69 and a beta of 0.01. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The stock has a 50 day moving average of $17.23 and a 200-day moving average of $18.50.

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 the consensus estimate of $0.40 by ($0.08). The company had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. As a group, equities research analysts predict that Donegal Group, Inc. will post 1.7 EPS for the current year.

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $0.1925 dividend. The ex-dividend date of this dividend was Friday, May 1st. This is a positive change from Donegal Group’s previous quarterly dividend of $0.18. This represents a $0.77 annualized dividend and a dividend yield of 4.4%. Donegal Group’s dividend payout ratio (DPR) is currently 43.02%.

Hedge Funds Weigh In On Donegal Group

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of Donegal Group by 3.1% in the 1st quarter. Bank of America Corp DE now owns 73,820 shares of the insurance provider’s stock valued at $1,268,000 after purchasing an additional 2,243 shares in the last quarter. Amundi bought a new stake in shares of Donegal Group during the 1st quarter worth $206,000. Renaissance Technologies LLC boosted its stake in Donegal Group by 5.8% in the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock valued at $6,747,000 after buying an additional 21,500 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Donegal Group by 41.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after acquiring an additional 80,614 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Donegal Group by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock worth $29,846,000 after acquiring an additional 7,345 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on DGICA. Weiss Ratings cut Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods dropped 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. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.