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

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 7,500 shares of the business’s stock in a transaction on Monday, November 9th. The shares were purchased at an average cost of $18.81 per share, for a total transaction of $141,075.00. Following the transaction, the insider owned 14,442,628 shares of the company’s stock, valued at $271,665,832.68. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 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 Wednesday, November 11th, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The stock was purchased at an average price of $18.88 per share, with a total value of $141,600.00.
• On Friday, November 6th, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The stock was purchased at an average cost of $18.74 per share, with a total value of $140,550.00.
• On Thursday, November 5th, Mutual Insurance Co Donegal acquired 25,500 shares of Donegal Group stock. The shares were bought at an average cost of $18.86 per share, with a total value of $480,930.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal bought 7,500 shares of Donegal Group stock. The stock was purchased at an average price of $18.69 per share, with a total value of $140,175.00.
• On Friday, September 11th, Mutual Insurance Co Donegal bought 54,725 shares of Donegal Group stock. The shares were 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 purchased 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 stock was purchased at an average price of $19.13 per share, with a total value of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.14 per share, with a total value of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal purchased 6,368 shares of Donegal Group stock. The shares were purchased 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 bought 9,595 shares of Donegal Group stock. The shares were acquired at an average price of $19.53 per share, with a total value of $187,390.35.

Donegal Group Stock 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 stock has a market cap of $703.80 million, a P/E ratio of 10.24 and a beta of -0.03. The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average of $18.67 and a two-hundred day moving average of $18.15.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. Donegal Group had a net margin of 7.24% and a return on equity of 10.45%. The business had revenue of $237.66 million for the quarter, compared to analyst estimates of $214.12 million. As a group, research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be issued a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Monday, November 2nd. Donegal Group’s dividend payout ratio is 41.18%.

Institutional Trading of Donegal Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP lifted its stake in shares of Donegal Group by 31.7% during the 3rd quarter. First Trust Advisors LP now owns 74,434 shares of the insurance provider’s stock worth $1,324,000 after purchasing an additional 17,915 shares during the period. Virtus Advisers LLC grew its position in shares of Donegal Group by 16.8% in the third quarter. Virtus Advisers LLC now owns 9,866 shares of the insurance provider’s stock valued at $176,000 after purchasing an additional 1,417 shares during the period. Russell Investments Group Ltd. grew its position in shares of Donegal Group by 68.7% in the third quarter. Russell Investments Group Ltd. now owns 22,747 shares of the insurance provider’s stock valued at $405,000 after purchasing an additional 9,266 shares during the period. Commonwealth Equity Services LLC increased its stake in Donegal Group by 6.7% in the third 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 last quarter. Finally, State of Wyoming acquired a new position in Donegal Group in the third quarter valued at $177,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DGICA shares. Zacks Research raised Donegal Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Donegal Group currently has a consensus rating of “Hold” and a consensus target price of $20.00.

About Donegal Group

Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.