Mutual Insurance Co Donegal Buys 15,509 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 15,509 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were purchased at an average price of $17.49 per share, for a total transaction of $271,252.41. Following the completion of the transaction, the insider owned 13,472,945 shares of the company’s stock, valued at $235,641,808.05. This represents a 0.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Donegal Group Stock Performance

Donegal Group stock opened at $17.56 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a fifty day moving average of $18.14 and a two-hundred day moving average of $18.40. The company has a market capitalization of $641.12 million, a price-to-earnings ratio of 7.38 and a beta of 0.01. Donegal Group, Inc. has a fifty-two week low of $14.06 and a fifty-two week high of $21.12.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. The company had revenue of $233.81 million during the quarter, compared to the consensus estimate of $247.21 million. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%. On average, analysts anticipate that Donegal Group, Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, August 1st. Donegal Group’s dividend payout ratio is currently 30.67%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Donegal Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Donegal Group presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its stake in Donegal Group by 477.2% during the 2nd quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 2,448 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 2,975 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Donegal Group by 443.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after acquiring an additional 4,022 shares in the last quarter. CWM LLC raised its stake in Donegal Group by 78.0% during the 1st quarter. CWM LLC now owns 5,163 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 2,263 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Donegal Group during the 2nd quarter valued at $101,000. 27.96% of the stock is currently owned by institutional investors.

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.