Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $143,459.02 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 7,297 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was purchased at an average cost of $19.66 per share, with a total value of $143,459.02. Following the transaction, the insider directly owned 13,701,876 shares in the company, valued at approximately $269,378,882.16. This represents a 0.05% increase in their position. The transaction was disclosed in a document filed 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 sales and purchases with the SEC.

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

• On Monday, November 10th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The stock was bought at an average price of $19.36 per share, for a total transaction of $154,880.00.
• On Thursday, November 6th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.13 per share, for a total transaction of $153,040.00.
• On Tuesday, November 4th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The shares were purchased at an average price of $18.71 per share, for a total transaction of $149,680.00.
• On Friday, September 12th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.53 per share, with a total value of $390,600.00.
• On Thursday, September 11th, Mutual Insurance Co Donegal acquired 16,573 shares of Donegal Group stock. The shares were acquired at an average cost of $19.45 per share, for a total transaction of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The stock was bought at an average price of $18.99 per share, for a total transaction of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal acquired 19,352 shares of Donegal Group stock. The stock was purchased at an average cost of $19.24 per share, with a total value of $372,332.48.
• On Monday, September 8th, Mutual Insurance Co Donegal bought 19,025 shares of Donegal Group stock. The stock was purchased at an average cost of $19.10 per share, for a total transaction of $363,377.50.
• On Thursday, September 4th, Mutual Insurance Co Donegal acquired 19,212 shares of Donegal Group stock. The stock was acquired at an average cost of $19.22 per share, for a total transaction of $369,254.64.
• On Wednesday, September 3rd, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The shares were acquired at an average cost of $18.37 per share, with a total value of $367,400.00.

Donegal Group Stock Performance

NASDAQ:DGICA traded up $0.07 during mid-day trading on Wednesday, hitting $19.80. 10,452 shares of the company traded hands, compared to its average volume of 130,320. Donegal Group, Inc. has a one year low of $14.17 and a one year high of $21.12. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06. The firm has a market cap of $722.70 million, a price-to-earnings ratio of 8.32 and a beta of 0.01. The stock’s fifty day moving average price is $19.19 and its 200-day moving average price is $18.93.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. The firm had revenue of $245.55 million during the quarter, compared to analysts’ expectations of $244.19 million. Research analysts anticipate that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be given a $0.1825 dividend. The ex-dividend date is Monday, November 3rd. This represents a $0.73 dividend on an annualized basis and a yield of 3.7%. Donegal Group’s dividend payout ratio (DPR) is currently 30.17%.

Wall Street Analyst Weigh In

DGICA has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Donegal Group in a report on Wednesday, October 8th. Wall Street Zen cut shares of Donegal Group from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Zacks Research upgraded shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Janney Montgomery Scott raised shares of Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $18.00.

Hedge Funds Weigh In On Donegal Group

A number of large investors have recently made changes to their positions in DGICA. IAG Wealth Partners LLC acquired a new position in Donegal Group during the 3rd quarter valued at approximately $192,000. Vanguard Group Inc. grew its position in Donegal Group by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider’s stock worth $19,549,000 after purchasing an additional 39,181 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Donegal Group by 171.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,712 shares of the insurance provider’s stock valued at $440,000 after buying an additional 14,352 shares during the last quarter. Navellier & Associates Inc. grew its holdings in Donegal Group by 96.7% during the third quarter. Navellier & Associates Inc. now owns 39,471 shares of the insurance provider’s stock worth $765,000 after acquiring an additional 19,407 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Donegal Group by 5.0% during the 3rd quarter. ProShare Advisors LLC now owns 332,503 shares of the insurance provider’s stock worth $6,447,000 after purchasing an additional 15,765 shares during the period. 27.96% of the stock is owned by institutional investors and hedge funds.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.