Mutual Insurance Co Donegal Purchases 9,900 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 9,900 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $17.56 per share, for a total transaction of $173,844.00. Following the purchase, the insider directly owned 14,127,009 shares in the company, valued at approximately $248,070,278.04. This represents a 0.07% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link. Major 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 Friday, June 12th, Mutual Insurance Co Donegal acquired 9,682 shares of Donegal Group stock. The stock was purchased at an average cost of $17.62 per share, for a total transaction of $170,596.84.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was purchased 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 acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $16.76 per share, for a total transaction of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $16.98 per share, for a total transaction of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.40 per share, for a total transaction 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 cost of $17.43 per share, for a total transaction 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 cost of $17.48 per share, for a total transaction 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 cost of $17.33 per share, for a total transaction 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 cost of $17.16 per share, for a total transaction of $145,860.00.

Donegal Group Stock Up 0.7%

DGICA opened at $17.46 on Wednesday. Donegal Group, Inc. has a one year low of $16.11 and a one year high of $21.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The stock’s fifty day moving average is $17.27 and its 200-day moving average is $18.21. The company has a market capitalization of $646.89 million, a PE ratio of 9.75 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). The firm had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%. On average, equities analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a $0.1925 dividend. This is a positive change from Donegal Group’s previous quarterly dividend of $0.18. 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%. Donegal Group’s dividend payout ratio is 43.02%.

Institutional Trading of Donegal Group

A number of hedge funds have recently bought and sold shares of the company. Royce & Associates LP grew its holdings in shares of Donegal Group by 579.4% during the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock valued at $3,394,000 after buying an additional 144,853 shares in the last quarter. Sierra Summit Advisors LLC purchased a new position in shares of Donegal Group during the third quarter valued at $799,000. Los Angeles Capital Management LLC grew its holdings in shares of Donegal Group by 145.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 67,726 shares of the insurance provider’s stock valued at $1,245,000 after buying an additional 40,078 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Donegal Group by 1,377.6% during the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock valued at $75,000 after buying an additional 3,513 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Donegal Group during the fourth quarter valued at $204,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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