Mutual Insurance Co Donegal Buys 13,469 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 13,469 shares of Donegal Group stock in a transaction on Wednesday, September 9th. The shares were acquired at an average cost of $19.13 per share, for a total transaction of $257,661.97. Following the purchase, the insider owned 14,322,403 shares in the company, valued at approximately $273,987,569.39. This trade represents a 0.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 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 Thursday, September 10th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average cost 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 acquired at an average price of $19.14 per share, with a total value of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal purchased 6,368 shares of Donegal Group stock. The stock was acquired at an average price of $19.39 per share, with a total value of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal acquired 9,595 shares of Donegal Group stock. The shares were bought at an average cost of $19.53 per share, with a total value of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average price of $19.43 per share, for a total transaction of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal bought 9,257 shares of Donegal Group stock. The stock was bought at an average cost of $19.17 per share, for a total transaction of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.18 per share, with a total value of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $18.95 per share, for a total transaction of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal purchased 9,508 shares of Donegal Group stock. The stock was bought at an average price of $19.11 per share, for a total transaction of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.06 per share, with a total value of $190,600.00.

Donegal Group Trading Up 0.5%

DGICA stock opened at $19.36 on Friday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 10.03 and a beta of -0.01. 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 business has a fifty day simple moving average of $19.00 and a 200-day simple moving average of $17.96. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.42 by $0.11. The company had revenue of $241.12 million during the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. On average, equities research analysts expect 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 was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.1925 dividend. 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 is currently 39.90%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Royce & Associates LP increased its stake in shares of Donegal Group by 579.4% in the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after buying an additional 144,853 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Donegal Group by 41.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock worth $4,746,000 after acquiring an additional 80,614 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Donegal Group by 145.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 67,726 shares of the insurance provider’s stock valued at $1,245,000 after purchasing an additional 40,078 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Donegal Group by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock valued at $29,846,000 after purchasing an additional 7,345 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Donegal Group by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock worth $2,862,000 after purchasing an additional 9,075 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on Donegal Group from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Donegal Group presently has an average rating of “Hold” and a consensus target price of $20.00.

Donegal Group Company Profile

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of independent insurance agents. The company operates through regional insurance subsidiaries affiliated with Donegal Mutual Insurance Company and serves individuals, families, farms, and businesses.

Its personal insurance products generally include automobile, homeowners, dwelling fire, renters, and farmowners coverage. Donegal Group also offers commercial insurance, including businessowners policies, commercial automobile, commercial package, workers’ compensation, general liability, and related coverages.