Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $148,155.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $17.43 per share, for a total transaction of $148,155.00. Following the completion of the acquisition, the insider owned 14,039,109 shares in the company, valued at $244,701,669.87. This represents a 0.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% 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 Tuesday, May 19th, Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group stock. The shares were acquired at an average price of $17.48 per share, for a total transaction of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.16 per share, for a total transaction of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $16.86 per share, for a total transaction of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.18 per share, for a total transaction of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal bought 8,077 shares of Donegal Group stock. The shares were acquired at an average price of $17.13 per share, for a total transaction of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.06 per share, for a total transaction of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $16.50 per share, for a total transaction of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal bought 9,000 shares of Donegal Group stock. The shares were acquired at an average price of $17.63 per share, for a total transaction of $158,670.00.

Donegal Group Stock Up 0.2%

Donegal Group stock traded up $0.04 during mid-day trading on Wednesday, reaching $17.44. 78,244 shares of the company’s stock were exchanged, compared to its average volume of 119,895. The company has a market cap of $646.15 million, a P/E ratio of 9.74 and a beta of 0.01. Donegal Group, Inc. has a twelve month low of $16.11 and a twelve month high of $21.06. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average of $17.20 and a 200-day moving average of $18.53.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The business had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. Sell-side analysts expect that Donegal Group, Inc. will post 1.7 EPS for the current year.

Donegal Group Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DGICA shares. Weiss Ratings lowered shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods reduced their price objective on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Donegal Group presently has a consensus rating of “Hold” and an average target price of $18.00.

Institutional Investors Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co raised its stake in Donegal Group by 31.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 896 shares in the last quarter. Strs Ohio grew its position in Donegal Group by 3.7% during the 4th quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock worth $565,000 after purchasing an additional 1,000 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Donegal Group by 8.9% in the third quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock valued at $237,000 after purchasing an additional 1,000 shares during the period. Qube Research & Technologies Ltd increased its stake in Donegal Group by 1.0% in the third quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider’s stock valued at $2,576,000 after purchasing an additional 1,274 shares during the period. Finally, Mariner LLC increased its stake in Donegal Group by 9.9% in the fourth quarter. Mariner LLC now owns 14,874 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 1,342 shares during the period. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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.