Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 71,000 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 71,000 shares of the business’s stock in a transaction on Monday, May 12th. The stock was bought at an average cost of $19.83 per share, for a total transaction of $1,407,930.00. Following the purchase, the insider now directly owns 13,441,621 shares of the company’s stock, valued at approximately $266,547,344.43. This trade represents a 0.53% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, May 1st, Mutual Insurance Co Donegal bought 36,239 shares of Donegal Group stock. The stock was bought at an average cost of $19.38 per share, for a total transaction of $702,311.82.
• On Friday, March 14th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The stock was bought at an average cost of $18.14 per share, for a total transaction of $145,120.00.
• On Wednesday, March 12th, Mutual Insurance Co Donegal bought 11,600 shares of Donegal Group stock. The stock was bought at an average cost of $17.59 per share, for a total transaction of $204,044.00.
• On Monday, March 10th, Mutual Insurance Co Donegal purchased 15,000 shares of Donegal Group stock. The shares were acquired at an average cost of $17.83 per share, for a total transaction of $267,450.00.
• On Friday, March 7th, Mutual Insurance Co Donegal purchased 14,608 shares of Donegal Group stock. The shares were acquired at an average cost of $17.96 per share, for a total transaction of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The stock was purchased at an average cost of $17.98 per share, for a total transaction of $269,700.00.
• On Monday, March 3rd, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The stock was purchased at an average cost of $17.85 per share, for a total transaction of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal bought 14,700 shares of Donegal Group stock. The stock was purchased at an average cost of $17.06 per share, for a total transaction of $250,782.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal acquired 12,000 shares of Donegal Group stock. The stock was purchased at an average cost of $16.49 per share, with a total value of $197,880.00.

Donegal Group Stock Performance

NASDAQ DGICA opened at $19.73 on Thursday. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $20.51. The stock has a market cap of $703.16 million, a PE ratio of 12.98 and a beta of -0.05. The firm has a 50-day moving average of $18.79 and a 200-day moving average of $16.75. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.38. The business had revenue of $245.57 million during the quarter, compared to analysts’ expectations of $248.73 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. On average, sell-side analysts anticipate that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $0.1825 per share. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, May 1st. Donegal Group’s dividend payout ratio is currently 35.61%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their target price on shares of Donegal Group from $17.00 to $18.00 and gave the company a “market perform” rating in a research note on Friday, April 25th.

Institutional Trading of Donegal Group

Several institutional investors and hedge funds have recently modified their holdings of DGICA. Jump Financial LLC raised its position in Donegal Group by 3.1% in the first quarter. Jump Financial LLC now owns 17,952 shares of the insurance provider’s stock valued at $352,000 after purchasing an additional 533 shares during the last quarter. Bank of America Corp DE raised its position in shares of Donegal Group by 3.0% during the fourth quarter. Bank of America Corp DE now owns 29,572 shares of the insurance provider’s stock worth $457,000 after acquiring an additional 871 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Donegal Group by 0.4% in the fourth quarter. Wells Fargo & Company MN now owns 223,593 shares of the insurance provider’s stock worth $3,459,000 after purchasing an additional 897 shares in the last quarter. Corton Capital Inc. increased its holdings in Donegal Group by 7.4% in the fourth quarter. Corton Capital Inc. now owns 16,101 shares of the insurance provider’s stock worth $249,000 after purchasing an additional 1,108 shares in the last quarter. Finally, Martingale Asset Management L P increased its holdings in Donegal Group by 4.2% in the first quarter. Martingale Asset Management L P now owns 28,509 shares of the insurance provider’s stock worth $560,000 after purchasing an additional 1,156 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors.

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.