Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Buys $123,475.52 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 6,368 shares of Donegal Group stock in a transaction dated Friday, September 4th. The shares were purchased at an average price of $19.39 per share, for a total transaction of $123,475.52. Following the completion of the transaction, the insider directly owned 14,298,934 shares in the company, valued at approximately $277,256,330.26. The trade was a 0.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 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 Wednesday, September 9th, Mutual Insurance Co Donegal acquired 13,469 shares of Donegal Group stock. The shares were purchased at an average cost of $19.13 per share, for a total transaction of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.13 per share, with a total value of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average cost of $19.14 per share, with a total value of $191,400.00.
• On Thursday, September 3rd, Mutual Insurance Co Donegal purchased 9,595 shares of Donegal Group stock. The shares were acquired at an average price of $19.53 per share, for a total transaction of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were acquired at an average cost of $19.43 per share, for a total transaction of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal acquired 9,257 shares of Donegal Group stock. The stock was acquired at an average price of $19.17 per share, with a total value of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $19.18 per share, with a total value of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $18.95 per share, with a total value of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal bought 9,508 shares of Donegal Group stock. The shares were acquired at an average cost of $19.11 per share, for a total transaction of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $19.06 per share, for a total transaction of $190,600.00.

Donegal Group Stock Performance

Donegal Group stock opened at $19.36 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.28 billion, a PE ratio of 10.03 and a beta of -0.01. The firm has a fifty day simple moving average of $19.00 and a two-hundred day simple moving average of $17.96. Donegal Group, Inc. has a twelve month low of $16.11 and a twelve month high of $21.06.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.11. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The business had revenue of $241.12 million during the quarter, compared to analyst estimates of $231.53 million. Research analysts expect that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, July 31st. Donegal Group’s dividend payout ratio (DPR) is presently 39.90%.

Institutional Trading of Donegal Group

Large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC increased its holdings in Donegal Group by 576.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 2,341 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Donegal Group by 422.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after buying an additional 2,975 shares during the period. IFP Advisors Inc lifted its holdings in Donegal Group by 1,377.6% in the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after buying an additional 3,513 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Donegal Group by 31.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after buying an additional 896 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Donegal Group by 443.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after buying an additional 4,022 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Weiss Ratings raised Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. 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 note on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Donegal Group presently has a consensus rating of “Hold” and a consensus price target 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.