Mutual Insurance Co Donegal Purchases 8,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 8,000 shares of the stock in a transaction dated Friday, November 14th. The shares were purchased at an average cost of $19.92 per share, for a total transaction of $159,360.00. Following the completion of the acquisition, the insider directly owned 13,745,670 shares in the company, valued at approximately $273,813,746.40. This trade represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 Monday, November 17th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The stock was purchased at an average cost of $19.91 per share, with a total value of $159,280.00.
• On Thursday, November 13th, Mutual Insurance Co Donegal bought 29,000 shares of Donegal Group stock. The stock was purchased at an average cost of $19.53 per share, for a total transaction of $566,370.00.
• On Wednesday, November 12th, Mutual Insurance Co Donegal bought 6,794 shares of Donegal Group stock. The stock was purchased at an average cost of $19.74 per share, for a total transaction of $134,113.56.
• On Tuesday, November 11th, Mutual Insurance Co Donegal purchased 7,297 shares of Donegal Group stock. The shares were purchased at an average price 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 acquired at an average cost of $19.36 per share, with a total value of $154,880.00.
• On Thursday, November 6th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.13 per share, for a total transaction of $153,040.00.
• On Tuesday, November 4th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The shares were acquired at an average price of $18.71 per share, with a total value of $149,680.00.
• On Friday, September 12th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The stock was acquired at an average price of $19.53 per share, for a total transaction of $390,600.00.
• On Thursday, September 11th, Mutual Insurance Co Donegal purchased 16,573 shares of Donegal Group stock. The shares were acquired at an average price of $19.45 per share, for a total transaction of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The stock was bought at an average price of $18.99 per share, with a total value of $379,800.00.

Donegal Group Stock Performance

NASDAQ DGICA traded up $0.08 on Tuesday, hitting $19.86. 19,722 shares of the company traded hands, compared to its average volume of 130,161. The business’s 50 day moving average price is $19.26 and its 200-day moving average price is $18.95. Donegal Group, Inc. has a 52-week low of $14.17 and a 52-week high of $21.12. 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 company has a market capitalization of $727.71 million, a price-to-earnings ratio of 8.34 and a beta of 0.01.

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

Donegal Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Donegal Group

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

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.