Donegal Group (NASDAQ:DGICA) Stock: Insider Mutual Insurance Co Donegal Buys 7,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 7,500 shares of the business’s stock in a transaction on Monday, November 9th. The shares were bought at an average cost of $18.81 per share, for a total transaction of $141,075.00. Following the purchase, the insider owned 14,442,628 shares of the company’s stock, valued at $271,665,832.68. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 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, November 11th, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The stock was bought at an average price of $18.88 per share, for a total transaction of $141,600.00.
• On Friday, November 6th, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The shares were bought at an average cost of $18.74 per share, with a total value of $140,550.00.
• On Thursday, November 5th, Mutual Insurance Co Donegal acquired 25,500 shares of Donegal Group stock. The shares were bought at an average cost of $18.86 per share, with a total value of $480,930.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The shares were purchased at an average price of $18.69 per share, with a total value of $140,175.00.
• On Friday, September 11th, Mutual Insurance Co Donegal bought 54,725 shares of Donegal Group stock. The stock was purchased at an average cost of $19.23 per share, for a total transaction of $1,052,361.75.
• 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, for a total transaction of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.13 per share, with a total value of $191,300.00.
• 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, with a total value of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal purchased 6,368 shares of Donegal Group stock. The shares were 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 purchased 9,595 shares of Donegal Group stock. The shares were purchased at an average price of $19.53 per share, with a total value of $187,390.35.

Donegal Group Trading Up 0.5%

Shares of Donegal Group stock traded up $0.10 during trading hours on Friday, reaching $19.06. The stock had a trading volume of 121,251 shares, compared to its average volume of 112,779. The firm has a 50 day simple moving average of $18.66 and a two-hundred day simple moving average of $18.15. The firm has a market capitalization of $713.23 million, a price-to-earnings ratio of 10.19 and a beta of -0.03. The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. Donegal Group, Inc. has a 1 year low of $16.11 and a 1 year high of $21.06.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. Donegal Group had a return on equity of 10.45% and a net margin of 7.24%. The business had revenue of $237.66 million for the quarter, compared to analyst estimates of $214.12 million. As a group, equities research analysts anticipate that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a $0.1925 dividend. The ex-dividend date is Monday, November 2nd. This represents a $0.77 annualized dividend and a yield of 4.0%. Donegal Group’s dividend payout ratio (DPR) is presently 41.18%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its position in Donegal Group by 214.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 4,016 shares during the period. IFP Advisors Inc lifted its stake in shares of Donegal Group by 27.8% during the second quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider’s stock worth $174,000 after purchasing an additional 2,004 shares in the last quarter. Virtus Advisers LLC boosted its position in shares of Donegal Group by 16.8% in the third quarter. Virtus Advisers LLC now owns 9,866 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,417 shares during the period. State of Wyoming purchased a new stake in shares of Donegal Group in the third quarter worth about $177,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Donegal Group in the second quarter worth about $220,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DGICA. Zacks Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 16th. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Donegal Group currently has an average rating of “Hold” and a consensus target price of $20.00.

Donegal Group Company Profile

Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.