Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 7,500 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 7,500 shares of the stock in a transaction on Tuesday, November 3rd. The shares were acquired at an average cost of $18.69 per share, with a total value of $140,175.00. Following the purchase, the insider owned 14,394,628 shares of the company’s stock, valued at approximately $269,035,597.32. This represents a 0.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Friday, September 11th, Mutual Insurance Co Donegal purchased 54,725 shares of Donegal Group stock. The stock was bought at an average price of $19.23 per share, for a total transaction of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal purchased 13,469 shares of Donegal Group stock. The stock was bought at an average price of $19.13 per share, for a total transaction of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.13 per share, for a total transaction of $191,300.00.
• 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 stock was bought at an average cost of $19.39 per share, with a total value of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal acquired 9,595 shares of Donegal Group stock. The stock was bought at an average cost of $19.53 per share, with a total value of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was bought at an average price of $19.43 per share, for a total transaction of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal bought 9,257 shares of Donegal Group stock. The stock was bought at an average price of $19.17 per share, for a total transaction of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.18 per share, for a total transaction of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $18.95 per share, for a total transaction of $189,500.00.

Donegal Group Price Performance

Shares of DGICA opened at $18.96 on Friday. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The business has a 50-day simple moving average of $18.70 and a two-hundred day simple moving average of $18.14. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock has a market cap of $703.80 million, a PE ratio of 10.32 and a beta of -0.03.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $237.66 million for the quarter, compared to analyst estimates of $214.12 million. Donegal Group had a return on equity of 10.49% and a net margin of 7.24%. Analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a dividend of $0.1925 per share. The ex-dividend date is Monday, November 2nd. This represents a $0.77 annualized dividend and a yield of 4.1%. Donegal Group’s dividend payout ratio (DPR) is currently 41.18%.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors have recently made changes to their positions in DGICA. Commonwealth Equity Services LLC increased its position in Donegal Group by 6.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 21,290 shares of the insurance provider’s stock valued at $379,000 after purchasing an additional 1,336 shares during the period. IFP Advisors Inc raised its holdings in 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 purchasing an additional 2,004 shares during the last quarter. Bank of America Corp DE lifted its position 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 worth $1,268,000 after purchasing an additional 2,243 shares during the period. Pinnacle Associates Ltd. lifted its position in shares of Donegal Group by 3.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider’s stock worth $1,710,000 after purchasing an additional 3,264 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Donegal Group by 214.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 4,016 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports 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. Zacks Research upgraded shares of Donegal Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

About Donegal Group

Donegal Group Inc (NASDAQ: DGICA) is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.

Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers’ compensation coverage, along with other specialized property and casualty policies.

Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.