Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $144,330.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of the stock in a transaction dated Thursday, May 28th. The shares were purchased at an average price of $16.98 per share, for a total transaction of $144,330.00. Following the completion of the transaction, the insider owned 14,081,609 shares of the company’s stock, valued at $239,105,720.82. This trade represents a 0.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large 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 Tuesday, May 26th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.40 per share, for a total transaction of $147,900.00.
• On Wednesday, May 20th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.43 per share, for a total transaction of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal acquired 8,328 shares of Donegal Group stock. The shares were purchased at an average price of $17.48 per share, for a total transaction of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.16 per share, for a total transaction of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought at an average price of $16.86 per share, for a total transaction of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought at an average price of $17.18 per share, for a total transaction of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal purchased 8,077 shares of Donegal Group stock. The stock was bought at an average price of $17.13 per share, for a total transaction of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought at an average price of $17.06 per share, for a total transaction of $145,010.00.

Donegal Group Stock Performance

Shares of NASDAQ:DGICA opened at $17.07 on Friday. The business’s fifty day moving average price is $17.25 and its two-hundred day moving average price is $18.45. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The stock has a market capitalization of $632.44 million, a price-to-earnings ratio of 9.54 and a beta of 0.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The company had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million. As a group, analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 4.5%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio (DPR) is currently 43.02%.

Institutional Trading of Donegal Group

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of Donegal Group by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock worth $29,846,000 after purchasing an additional 7,345 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Donegal Group by 4.0% during the third quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider’s stock valued at $19,549,000 after acquiring an additional 39,181 shares during the period. Geode Capital Management LLC lifted its stake in shares of Donegal Group by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 534,703 shares of the insurance provider’s stock valued at $10,685,000 after acquiring an additional 11,891 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Donegal Group by 5.8% during the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock valued at $6,747,000 after acquiring an additional 21,500 shares during the period. Finally, State Street Corp lifted its stake in shares of Donegal Group by 0.8% during the fourth quarter. State Street Corp now owns 391,729 shares of the insurance provider’s stock valued at $7,827,000 after acquiring an additional 3,290 shares during the period. Institutional investors own 27.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Weiss Ratings cut Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods decreased their target price on Donegal Group from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Donegal Group presently has a consensus rating of “Hold” and an average target price of $18.00.

About Donegal Group

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.