Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases 9,815 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 9,815 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average price of $18.66 per share, for a total transaction of $183,147.90. Following the completion of the acquisition, the insider owned 14,194,206 shares in the company, valued at approximately $264,863,883.96. This trade represents a 0.07% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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, August 19th, Mutual Insurance Co Donegal purchased 9,700 shares of Donegal Group stock. The stock was bought at an average price of $18.61 per share, with a total value of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $18.52 per share, with a total value of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal purchased 18,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.67 per share, for a total transaction of $354,060.00.
• 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, with a total value of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal bought 9,900 shares of Donegal Group stock. The shares were acquired 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 acquired at an average price of $16.62 per share, with a total value of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were 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 purchased 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $16.98 per share, with a total value of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $17.33 per share, with a total value of $147,305.00.

Donegal Group Stock Up 0.4%

DGICA traded up $0.08 during trading on Friday, hitting $18.75. The company had a trading volume of 14,152 shares, compared to its average volume of 125,380. Donegal Group, Inc. has a 1-year low of $16.11 and a 1-year 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. The company has a market cap of $1.24 billion, a PE ratio of 9.72 and a beta of -0.01. The business has a 50-day moving average of $18.68 and a 200-day moving average of $17.89.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.11. The company had revenue of $241.12 million during the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. As a group, analysts forecast that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s payout ratio is currently 39.90%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods raised their price objective on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Institutional Investors Weigh In On Donegal Group

Hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its stake in Donegal Group by 576.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 2,341 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Donegal Group by 422.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 2,975 shares during the period. IFP Advisors Inc raised 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 during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Donegal Group by 31.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after buying an additional 896 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Donegal Group by 443.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after buying an additional 4,022 shares during the period. 27.96% of the stock is currently owned by institutional investors.

About Donegal Group

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.