Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 9,682 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 9,682 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average cost of $17.62 per share, for a total transaction of $170,596.84. Following the completion of the transaction, the insider directly owned 14,136,691 shares of the company’s stock, valued at $249,088,495.42. This represents a 0.07% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 Thursday, June 11th, Mutual Insurance Co Donegal acquired 9,900 shares of Donegal Group stock. The shares were bought at an average cost of $17.56 per share, for a total transaction of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $16.62 per share, for a total transaction of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $16.76 per share, with a total value of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $16.98 per share, with a total value of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $17.33 per share, with a total value of $147,305.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $17.40 per share, with a total value of $147,900.00.
• On Wednesday, May 20th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.43 per share, with a total value of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal acquired 8,328 shares of Donegal Group stock. The stock was purchased at an average price of $17.48 per share, with a total value of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.33 per share, with a total value of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.16 per share, with a total value of $145,860.00.

Donegal Group Price Performance

NASDAQ:DGICA opened at $17.34 on Tuesday. The stock has a market cap of $642.45 million, a P/E ratio of 9.69 and a beta of 0.01. Donegal Group, Inc. has a one year low of $16.11 and a one year high of $21.06. The company has a fifty day moving average price of $17.26 and a 200 day moving average price of $18.23. 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 released its 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). The company had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. Analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Increases Dividend

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

Institutional Investors Weigh In On Donegal Group

A number of hedge funds have recently added to or reduced their stakes in DGICA. Royce & Associates LP grew its holdings in Donegal Group by 579.4% during the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after acquiring an additional 144,853 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Donegal Group by 117.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock worth $4,718,000 after acquiring an additional 127,470 shares during the last quarter. Two Sigma Investments LP grew its holdings in Donegal Group by 139.8% during the 3rd quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock worth $2,956,000 after acquiring an additional 88,878 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Donegal Group by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock worth $4,746,000 after acquiring an additional 80,614 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Donegal Group by 157.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 131,574 shares of the insurance provider’s stock worth $2,635,000 after acquiring an additional 80,395 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DGICA. Keefe, Bruyette & Woods dropped their price objective on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Friday, May 1st. Weiss Ratings lowered shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.