Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $138,359.01 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,077 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were bought at an average price of $17.13 per share, with a total value of $138,359.01. Following the transaction, the insider directly owned 13,971,281 shares in the company, valued at approximately $239,328,043.53. The trade was a 0.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 Monday, May 11th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $17.18 per share, with a total value of $146,030.00.
• On Thursday, May 7th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $17.06 per share, with a total value of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought at an average cost of $16.50 per share, for a total transaction of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal purchased 9,000 shares of Donegal Group stock. The stock was bought at an average cost of $17.63 per share, for a total transaction of $158,670.00.

Donegal Group Trading Up 0.5%

NASDAQ DGICA opened at $17.01 on Thursday. Donegal Group, Inc. has a 1-year low of $16.11 and a 1-year high of $21.12. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $629.37 million, a PE ratio of 9.50 and a beta of 0.01. The firm’s fifty day simple moving average is $17.23 and its 200-day simple moving average is $18.58.

Donegal Group (NASDAQ:DGICA) last posted 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 business had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%. As a group, sell-side analysts anticipate that Donegal Group, Inc. will post 1.7 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a $0.1925 dividend. This is an increase from Donegal Group’s previous quarterly dividend of $0.18. This represents a $0.77 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, May 1st. Donegal Group’s dividend payout ratio (DPR) is 43.02%.

Analyst Ratings Changes

DGICA has been the subject of several research reports. Keefe, Bruyette & Woods reduced their target price 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 cut shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.00.

Institutional Trading of Donegal Group

Several hedge funds have recently modified their holdings of DGICA. State of Alaska Department of Revenue acquired a new stake in shares of Donegal Group during the third quarter worth approximately $26,000. Smartleaf Asset Management LLC increased its holdings in shares of Donegal Group by 576.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after buying an additional 2,341 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Donegal Group by 79.1% during the third quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock worth $58,000 after buying an additional 1,329 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Donegal Group by 422.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after buying an additional 2,975 shares in the last quarter. Finally, IFP Advisors Inc increased 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 worth $75,000 after buying an additional 3,513 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

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.