Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Buys 8,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $18.14 per share, with a total value of $145,120.00. Following the completion of the transaction, the insider now directly owns 13,334,382 shares of the company’s stock, valued at $241,885,689.48. This trade represents a 0.06 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major 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, March 12th, Mutual Insurance Co Donegal bought 11,600 shares of Donegal Group stock. The shares were acquired at an average price of $17.59 per share, with a total value of $204,044.00.
• On Monday, March 10th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The shares were acquired at an average price of $17.83 per share, with a total value of $267,450.00.
• On Friday, March 7th, Mutual Insurance Co Donegal bought 14,608 shares of Donegal Group stock. The shares were acquired at an average price of $17.96 per share, with a total value of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The shares were acquired at an average price of $17.98 per share, with a total value of $269,700.00.
• On Monday, March 3rd, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The shares were acquired at an average price of $17.85 per share, with a total value of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal acquired 14,700 shares of Donegal Group stock. The stock was purchased at an average price of $17.06 per share, with a total value of $250,782.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal acquired 12,000 shares of Donegal Group stock. The stock was purchased at an average price of $16.49 per share, with a total value of $197,880.00.

Donegal Group Trading Down 0.5 %

Shares of Donegal Group stock opened at $18.45 on Wednesday. The firm has a 50-day simple moving average of $15.82 and a two-hundred day simple moving average of $15.56. The company has a market cap of $625.38 million, a P/E ratio of 12.14 and a beta of -0.04. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $18.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.39. The business had revenue of $249.70 million during the quarter, compared to the consensus estimate of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. As a group, equities analysts predict that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were paid a dividend of $0.1725 per share. The ex-dividend date was Tuesday, February 4th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.74%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s payout ratio is currently 45.39%.

Institutional Trading of Donegal Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of Donegal Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock worth $5,371,000 after purchasing an additional 4,933 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Donegal Group by 39.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock worth $896,000 after purchasing an additional 17,125 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Donegal Group by 82.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock worth $1,551,000 after purchasing an additional 47,447 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Donegal Group during the 4th quarter valued at about $128,000. Finally, Bleakley Financial Group LLC purchased a new stake in Donegal Group during the 4th quarter valued at about $244,000. Hedge funds and other institutional investors own 27.96% of the company’s stock.

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.