Mutual Insurance Co Donegal Purchases 10,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 10,000 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were acquired at an average price of $19.13 per share, for a total transaction of $191,300.00. Following the transaction, the insider directly owned 14,332,403 shares in the company, valued at approximately $274,178,869.39. This represents a 0.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 Wednesday, September 9th, Mutual Insurance Co Donegal purchased 13,469 shares of Donegal Group stock. The stock was bought at an average cost of $19.13 per share, with a total value of $257,661.97.
• On Tuesday, September 8th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average price of $19.14 per share, with a total value of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal acquired 6,368 shares of Donegal Group stock. The shares were bought at an average cost of $19.39 per share, for a total transaction of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal bought 9,595 shares of Donegal Group stock. The stock was bought at an average price of $19.53 per share, for a total transaction of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.43 per share, with a total value of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal purchased 9,257 shares of Donegal Group stock. The shares were bought at an average price of $19.17 per share, with a total value of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average price of $19.18 per share, with a total value of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $18.95 per share, for a total transaction of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal acquired 9,508 shares of Donegal Group stock. The stock was purchased at an average price of $19.11 per share, for a total transaction of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average price of $19.06 per share, with a total value of $190,600.00.

Donegal Group Price Performance

Shares of Donegal Group stock opened at $19.36 on Friday. The stock has a market capitalization of $1.28 billion, a P/E ratio of 10.03 and a beta of -0.01. The business has a 50 day simple moving average of $19.00 and a two-hundred day simple moving average of $17.96. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. 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 (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The firm had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. As a group, analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.1925 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.0%. Donegal Group’s dividend payout ratio is presently 39.90%.

Institutional Trading of Donegal Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc raised its holdings in shares of Donegal Group by 27.8% during the 2nd quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock worth $174,000 after acquiring an additional 2,004 shares during the period. Allianz Asset Management GmbH acquired a new position in shares of Donegal Group during the 2nd quarter valued at about $220,000. California State Teachers Retirement System grew its holdings in shares of Donegal Group by 1,721.1% in the second quarter. California State Teachers Retirement System now owns 278,204 shares of the insurance provider’s stock valued at $5,247,000 after purchasing an additional 262,927 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Donegal Group in the second quarter valued at about $344,000. Finally, Ancora Advisors LLC acquired a new stake in Donegal Group during the second quarter worth about $273,000. 27.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. Keefe, Bruyette & Woods increased their price objective on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Donegal Group currently has a consensus rating of “Hold” and an average price target of $20.00.

Donegal Group Company Profile

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of independent insurance agents. The company operates through regional insurance subsidiaries affiliated with Donegal Mutual Insurance Company and serves individuals, families, farms, and businesses.

Its personal insurance products generally include automobile, homeowners, dwelling fire, renters, and farmowners coverage. Donegal Group also offers commercial insurance, including businessowners policies, commercial automobile, commercial package, workers’ compensation, general liability, and related coverages.