Mutual Insurance Co Donegal Acquires 9,700 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 9,700 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average price of $18.61 per share, for a total transaction of $180,517.00. Following the transaction, the insider directly owned 14,184,391 shares of the company’s stock, valued at approximately $263,971,516.51. This represents a 0.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% 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 Thursday, August 20th, Mutual Insurance Co Donegal purchased 9,815 shares of Donegal Group stock. The shares were bought at an average price of $18.66 per share, with a total value of $183,147.90.
• On Monday, August 17th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average price of $18.52 per share, with a total value of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal purchased 18,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.67 per share, with a total value of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal acquired 9,682 shares of Donegal Group stock. The shares were purchased at an average cost of $17.62 per share, for a total transaction of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal acquired 9,900 shares of Donegal Group stock. The shares were purchased at an average price of $17.56 per share, for a total transaction of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average cost of $16.62 per share, with a total value of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $16.76 per share, with a total value of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.98 per share, with a total value of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.33 per share, for a total transaction of $147,305.00.

Donegal Group Stock Performance

NASDAQ:DGICA opened at $18.67 on Friday. The stock’s 50-day moving average is $18.71 and its 200-day moving average is $17.90. Donegal Group, Inc. has a 1-year low of $16.11 and a 1-year high of $21.06. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.23 billion, a P/E ratio of 9.67 and a beta of -0.01.

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

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, July 31st. Donegal Group’s dividend payout ratio is 39.90%.

Institutional Trading of Donegal Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in Donegal Group during the 2nd quarter worth approximately $344,000. Ancora Advisors LLC bought a new stake in shares of Donegal Group in the 2nd quarter valued at $273,000. Bank of America Corp DE boosted its stake in shares of Donegal Group by 3.1% in the 1st quarter. Bank of America Corp DE now owns 73,820 shares of the insurance provider’s stock valued at $1,268,000 after purchasing an additional 2,243 shares during the last quarter. Amundi acquired a new stake in shares of Donegal Group during the first quarter worth $206,000. Finally, Renaissance Technologies LLC increased its position in shares of Donegal Group by 5.8% during the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock worth $6,747,000 after buying an additional 21,500 shares during the period. Institutional investors and hedge funds own 27.96% of the company’s stock.

Analysts Set New Price Targets

DGICA has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods increased their price objective on Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.00.

About Donegal Group

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.