Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 8,000 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock in a transaction dated Monday, November 10th. The stock was acquired at an average price of $19.36 per share, with a total value of $154,880.00. Following the completion of the transaction, the insider directly owned 13,694,579 shares of the company’s stock, valued at approximately $265,127,049.44. The trade was a 0.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Large 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 Tuesday, November 11th, Mutual Insurance Co Donegal purchased 7,297 shares of Donegal Group stock. The stock was bought at an average price of $19.66 per share, with a total value of $143,459.02.
• On Thursday, November 6th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.13 per share, for a total transaction of $153,040.00.
• On Tuesday, November 4th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The stock was purchased at an average cost of $18.71 per share, with a total value of $149,680.00.
• On Friday, September 12th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The shares were purchased at an average price of $19.53 per share, with a total value of $390,600.00.
• On Thursday, September 11th, Mutual Insurance Co Donegal bought 16,573 shares of Donegal Group stock. The shares were acquired at an average cost of $19.45 per share, with a total value of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The stock was purchased at an average price of $18.99 per share, for a total transaction of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal bought 19,352 shares of Donegal Group stock. The shares were purchased at an average price of $19.24 per share, with a total value of $372,332.48.
• On Monday, September 8th, Mutual Insurance Co Donegal purchased 19,025 shares of Donegal Group stock. The shares were acquired at an average price of $19.10 per share, for a total transaction of $363,377.50.
• On Thursday, September 4th, Mutual Insurance Co Donegal acquired 19,212 shares of Donegal Group stock. The stock was acquired at an average price of $19.22 per share, with a total value of $369,254.64.
• On Wednesday, September 3rd, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The stock was acquired at an average cost of $18.37 per share, with a total value of $367,400.00.

Donegal Group Stock Up 0.3%

Donegal Group stock opened at $19.78 on Thursday. The firm has a market capitalization of $722.15 million, a P/E ratio of 8.31 and a beta of 0.01. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06. Donegal Group, Inc. has a twelve month low of $14.17 and a twelve month high of $21.12. The stock’s fifty day simple moving average is $19.22 and its 200-day simple moving average is $18.94.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, October 30th. The insurance provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.37 by $0.15. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%.The firm had revenue of $245.55 million during the quarter, compared to analysts’ expectations of $244.19 million. As a group, equities analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be issued a $0.1825 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $0.73 annualized dividend and a yield of 3.7%. Donegal Group’s dividend payout ratio (DPR) is 30.17%.

Institutional Trading of Donegal Group

Several institutional investors and hedge funds have recently made changes to their positions in DGICA. State of Alaska Department of Revenue purchased a new position in Donegal Group during the 3rd quarter worth approximately $26,000. Allworth Financial LP raised its position in Donegal Group by 477.2% in the 2nd quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 2,448 shares during the last quarter. Versant Capital Management Inc grew its position in Donegal Group by 79.1% during the 3rd quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock worth $58,000 after purchasing an additional 1,329 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 2,975 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in 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 period. 27.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of Donegal Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Wall Street Zen lowered Donegal Group from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Janney Montgomery Scott raised Donegal Group from a “neutral” rating to a “buy” rating in a report on Tuesday, September 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Donegal Group presently has a consensus rating of “Buy” and a consensus target price of $18.00.

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.