Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $566,370.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 29,000 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were acquired at an average price of $19.53 per share, with a total value of $566,370.00. Following the acquisition, the insider owned 13,737,670 shares in the company, valued at approximately $268,296,695.10. The trade was a 0.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, November 12th, Mutual Insurance Co Donegal bought 6,794 shares of Donegal Group stock. The shares were acquired at an average cost of $19.74 per share, for a total transaction of $134,113.56.
• On Tuesday, November 11th, Mutual Insurance Co Donegal acquired 7,297 shares of Donegal Group stock. The stock was bought at an average cost of $19.66 per share, with a total value of $143,459.02.
• On Monday, November 10th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The shares were bought at an average price of $19.36 per share, with a total value of $154,880.00.
• On Thursday, November 6th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.13 per share, for a total transaction of $153,040.00.
• On Tuesday, November 4th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The shares were acquired 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 stock was acquired at an average cost of $19.53 per share, for a total transaction of $390,600.00.
• On Thursday, September 11th, Mutual Insurance Co Donegal bought 16,573 shares of Donegal Group stock. The shares were bought at an average price of $19.45 per share, for a total transaction of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The stock was bought at an average price of $18.99 per share, with a total value of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal purchased 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 bought 19,025 shares of Donegal Group stock. The shares were purchased at an average price of $19.10 per share, with a total value of $363,377.50.

Donegal Group Stock Up 0.4%

Shares of DGICA traded up $0.09 during mid-day trading on Friday, hitting $19.98. 21,649 shares of the company’s stock were exchanged, compared to its average volume of 130,143. The stock’s 50-day moving average is $19.23 and its 200-day moving average is $18.95. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. Donegal Group, Inc. has a fifty-two week low of $14.17 and a fifty-two week high of $21.12. The company has a market cap of $729.41 million, a price-to-earnings ratio of 8.37 and a beta of 0.01.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. The company had revenue of $245.92 million for the quarter, compared to analyst estimates of $244.19 million. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. On average, sell-side analysts anticipate that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 dividend on an annualized basis and a yield of 3.7%. Donegal Group’s dividend payout ratio (DPR) is 30.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DGICA. Weiss Ratings reiterated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, October 8th. Wall Street Zen lowered Donegal Group from a “buy” rating to a “hold” rating in a research note 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, Zacks Research raised Donegal Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $18.00.

Hedge Funds Weigh In On Donegal Group

Large investors have recently added to or reduced their stakes in the business. CWM LLC boosted its position in shares of Donegal Group by 78.0% in the first quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock worth $101,000 after acquiring an additional 2,263 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Donegal Group during the 1st quarter worth $489,000. Pinnacle Associates Ltd. purchased a new position in shares of Donegal Group in the 1st quarter worth $714,000. XTX Topco Ltd boosted its holdings in Donegal Group by 56.8% in the first quarter. XTX Topco Ltd now owns 16,387 shares of the insurance provider’s stock valued at $322,000 after acquiring an additional 5,935 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Donegal Group by 2.1% during the first quarter. Vanguard Group Inc. now owns 946,432 shares of the insurance provider’s stock worth $18,578,000 after acquiring an additional 19,174 shares during the last quarter. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

Donegal Group Company Profile

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.