Donegal Group (NASDAQ:DGICA) Stock: Insider Mutual Insurance Co Donegal Buys 7,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock in a transaction dated Wednesday, November 11th. The shares were bought at an average price of $18.88 per share, for a total transaction of $141,600.00. Following the acquisition, the insider owned 14,457,628 shares in the company, valued at approximately $272,960,016.64. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more 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 Monday, November 9th, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The stock was acquired at an average cost of $18.81 per share, for a total transaction of $141,075.00.
• On Friday, November 6th, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The shares were bought at an average cost of $18.74 per share, with a total value of $140,550.00.
• On Thursday, November 5th, Mutual Insurance Co Donegal purchased 25,500 shares of Donegal Group stock. The shares were acquired at an average price of $18.86 per share, for a total transaction of $480,930.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The stock was bought at an average price of $18.69 per share, for a total transaction of $140,175.00.
• On Friday, September 11th, Mutual Insurance Co Donegal acquired 54,725 shares of Donegal Group stock. The stock was bought at an average price of $19.23 per share, with a total value of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal purchased 13,469 shares of Donegal Group stock. The shares were purchased at an average price of $19.13 per share, with a total value of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.13 per share, for a total transaction of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $19.14 per share, for a total transaction of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal purchased 6,368 shares of Donegal Group stock. The shares were bought at an average price of $19.39 per share, for a total transaction of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal acquired 9,595 shares of Donegal Group stock. The stock was purchased at an average cost of $19.53 per share, with a total value of $187,390.35.

Donegal Group Trading Down 0.1%

Shares of DGICA stock opened at $18.95 on Thursday. The business’s 50 day moving average is $18.68 and its two-hundred day moving average is $18.15. Donegal Group, Inc. has a twelve month low of $16.11 and a twelve month high of $21.06. The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $703.42 million, a P/E ratio of 10.25 and a beta of -0.03.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $237.66 million during the quarter, compared to the consensus estimate of $214.12 million. Donegal Group had a return on equity of 10.45% and a net margin of 7.24%. Equities analysts forecast that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.1925 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.1%. Donegal Group’s dividend payout ratio is 41.18%.

Institutional Trading of Donegal Group

Several large investors have recently bought and sold shares of the company. Virtus Advisers LLC increased its holdings in Donegal Group by 16.8% during the 3rd quarter. Virtus Advisers LLC now owns 9,866 shares of the insurance provider’s stock valued at $176,000 after acquiring an additional 1,417 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Donegal Group by 68.7% in the third quarter. Russell Investments Group Ltd. now owns 22,747 shares of the insurance provider’s stock valued at $405,000 after purchasing an additional 9,266 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Donegal Group by 6.7% in the third quarter. Commonwealth Equity Services LLC now owns 21,290 shares of the insurance provider’s stock valued at $379,000 after purchasing an additional 1,336 shares during the last quarter. State of Wyoming purchased a new position in shares of Donegal Group during the 3rd quarter worth approximately $177,000. Finally, Pinnacle Associates Ltd. increased its stake in shares of Donegal Group by 3.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider’s stock worth $1,710,000 after purchasing an additional 3,264 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DGICA. Zacks Research upgraded shares of Donegal Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Donegal Group presently has an average rating of “Hold” and a consensus price target of $20.00.

Donegal Group Company Profile

Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.