Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases 51,404 Shares of Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 51,404 shares of Donegal Group stock in a transaction dated Friday, November 21st. The shares were acquired at an average cost of $17.86 per share, for a total transaction of $918,075.44. Following the completion of the purchase, the insider directly owned 13,784,361 shares of the company’s stock, valued at approximately $246,188,687.46. This trade represents a 0.37% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major 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 Thursday, November 20th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The stock was bought at an average price of $19.49 per share, for a total transaction of $155,920.00.
• On Wednesday, November 19th, Mutual Insurance Co Donegal acquired 7,587 shares of Donegal Group stock. The shares were bought at an average cost of $19.62 per share, for a total transaction of $148,856.94.
• On Tuesday, November 18th, Mutual Insurance Co Donegal acquired 7,104 shares of Donegal Group stock. The stock was bought at an average price of $19.84 per share, with a total value of $140,943.36.
• On Monday, November 17th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.91 per share, for a total transaction of $159,280.00.
• On Friday, November 14th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The shares were bought at an average price of $19.92 per share, for a total transaction of $159,360.00.
• On Thursday, November 13th, Mutual Insurance Co Donegal acquired 29,000 shares of Donegal Group stock. The stock was bought at an average price of $19.53 per share, with a total value of $566,370.00.
• On Wednesday, November 12th, Mutual Insurance Co Donegal bought 6,794 shares of Donegal Group stock. The shares were purchased at an average price of $19.74 per share, for a total transaction of $134,113.56.
• On Tuesday, November 11th, Mutual Insurance Co Donegal bought 7,297 shares of Donegal Group stock. The stock was purchased 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 purchased at an average price of $19.36 per share, for a total transaction 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, with a total value of $153,040.00.

Donegal Group Stock Up 0.1%

Donegal Group stock traded up $0.01 on Monday, hitting $19.76. 22,769 shares of the stock traded hands, compared to its average volume of 129,869. Donegal Group, Inc. has a 1 year low of $14.17 and a 1 year high of $21.12. The firm has a market cap of $724.05 million, a P/E ratio of 8.30 and a beta of 0.01. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $19.28 and its 200 day simple moving average is $18.94.

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

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were paid a dividend of $0.1825 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.7%. Donegal Group’s dividend payout ratio (DPR) is currently 30.17%.

Hedge Funds Weigh In On Donegal Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC bought a new stake in shares of Donegal Group in the 2nd quarter worth $6,343,000. CSM Advisors LLC bought a new position in shares of Donegal Group during the second quarter valued at $3,699,000. American Century Companies Inc. boosted its position in shares of Donegal Group by 294.1% during the second quarter. American Century Companies Inc. now owns 149,611 shares of the insurance provider’s stock valued at $2,996,000 after buying an additional 111,647 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Donegal Group by 139.8% during the third quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider’s stock valued at $2,956,000 after buying an additional 88,878 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Donegal Group by 33.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider’s stock worth $7,132,000 after buying an additional 88,462 shares in the last quarter. 27.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DGICA. Janney Montgomery Scott raised Donegal Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 2nd. Zacks Research raised Donegal Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Wall Street Zen cut Donegal Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.00.

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.