Donegal Group (NASDAQ:DGICA) Major Shareholder Acquires $191,300.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock in a transaction on Thursday, September 10th. The shares were purchased at an average price of $19.13 per share, for a total transaction of $191,300.00. Following the completion of the acquisition, the insider directly owned 14,332,403 shares in the company, valued at $274,178,869.39. This trade represents a 0.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Wednesday, September 9th, Mutual Insurance Co Donegal bought 13,469 shares of Donegal Group stock. The stock was purchased at an average price of $19.13 per share, with a total value of $257,661.97.
• On Tuesday, September 8th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.14 per share, for a total transaction of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal acquired 6,368 shares of Donegal Group stock. The stock was purchased at an average price of $19.39 per share, with a total value of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal bought 9,595 shares of Donegal Group stock. The shares were acquired at an average price of $19.53 per share, for a total transaction of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average cost of $19.43 per share, for a total transaction of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal purchased 9,257 shares of Donegal Group stock. The stock was acquired at an average price of $19.17 per share, with a total value of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were acquired at an average cost of $19.18 per share, for a total transaction of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average price of $18.95 per share, with a total value of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal purchased 9,508 shares of Donegal Group stock. The stock was purchased at an average price of $19.11 per share, for a total transaction of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.06 per share, with a total value of $190,600.00.

Donegal Group Price Performance

Shares of DGICA stock opened at $19.36 on Monday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 10.03 and a beta of -0.01. 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 50-day simple moving average is $19.00 and its 200-day simple moving average is $17.97. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06.

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

Donegal Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.1925 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.0%. Donegal Group’s dividend payout ratio is presently 39.90%.

Institutional Trading of Donegal Group

Large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its holdings in Donegal Group by 576.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 2,341 shares during the last quarter. EverSource Wealth Advisors LLC grew its position 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 in the last quarter. IFP Advisors Inc grew its position in shares of Donegal Group by 1,377.6% in the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 3,513 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Donegal Group by 31.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 896 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Donegal Group by 443.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after purchasing an additional 4,022 shares during the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Donegal Group presently has a consensus rating of “Hold” and an average price target of $20.00.

Donegal Group Company Profile

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of independent insurance agents. The company operates through regional insurance subsidiaries affiliated with Donegal Mutual Insurance Company and serves individuals, families, farms, and businesses.

Its personal insurance products generally include automobile, homeowners, dwelling fire, renters, and farmowners coverage. Donegal Group also offers commercial insurance, including businessowners policies, commercial automobile, commercial package, workers’ compensation, general liability, and related coverages.