Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 9,815 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 9,815 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were purchased at an average price of $18.66 per share, with a total value of $183,147.90. Following the acquisition, the insider owned 14,194,206 shares of the company’s stock, valued at approximately $264,863,883.96. This represents a 0.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Wednesday, August 19th, Mutual Insurance Co Donegal bought 9,700 shares of Donegal Group stock. The stock was purchased at an average price of $18.61 per share, for a total transaction of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $18.52 per share, with a total value of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal purchased 18,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.67 per share, with a total value of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal acquired 9,682 shares of Donegal Group stock. The stock was acquired at an average cost of $17.62 per share, for a total transaction of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal acquired 9,900 shares of Donegal Group stock. The shares were acquired at an average price of $17.56 per share, with a total value of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average cost of $16.62 per share, with a total value of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $16.76 per share, for a total transaction of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $16.98 per share, for a total transaction of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.33 per share, for a total transaction of $147,305.00.

Donegal Group Stock Performance

Shares of DGICA opened at $18.67 on Friday. The firm has a market capitalization of $1.23 billion, a P/E ratio of 9.67 and a beta of -0.01. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The stock has a 50 day moving average price of $18.71 and a two-hundred day moving average price of $17.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, topping 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 business had revenue of $241.12 million during the quarter, compared to the consensus estimate of $231.53 million. Equities analysts forecast that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.1925 per share. The ex-dividend date was Friday, July 31st. This represents a $0.77 annualized dividend and a yield of 4.1%. Donegal Group’s payout ratio is 39.90%.

Institutional Trading of Donegal Group

A number of large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new position in Donegal Group in the second quarter valued at about $344,000. Ancora Advisors LLC bought a new position in shares of Donegal Group during the 2nd quarter valued at approximately $273,000. Bank of America Corp DE increased its stake in shares of Donegal Group by 3.1% during the 1st quarter. Bank of America Corp DE now owns 73,820 shares of the insurance provider’s stock worth $1,268,000 after purchasing an additional 2,243 shares during the last quarter. Amundi bought a new stake in shares of Donegal Group in the 1st quarter worth approximately $206,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Donegal Group by 5.8% in the 1st quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock worth $6,747,000 after purchasing an additional 21,500 shares during the period. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DGICA shares. Keefe, Bruyette & Woods lifted their target price on shares of Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings raised Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.00.

Donegal Group Company Profile

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.