Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 8,500 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $17.40 per share, for a total transaction of $147,900.00. Following the acquisition, the insider owned 14,056,109 shares in the company, valued at approximately $244,576,296.60. The trade was a 0.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Wednesday, May 20th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $17.43 per share, for a total transaction of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal acquired 8,328 shares of Donegal Group stock. The shares were bought at an average cost of $17.48 per share, for a total transaction of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $17.16 per share, for a total transaction of $145,860.00.
• On Wednesday, May 13th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $16.86 per share, for a total transaction of $143,310.00.
• On Monday, May 11th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $17.18 per share, for a total transaction of $146,030.00.
• On Friday, May 8th, Mutual Insurance Co Donegal acquired 8,077 shares of Donegal Group stock. The shares were bought at an average cost of $17.13 per share, for a total transaction of $138,359.01.
• On Thursday, May 7th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $17.06 per share, for a total transaction of $145,010.00.
• On Tuesday, May 5th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $16.50 per share, for a total transaction of $140,250.00.
• On Tuesday, March 3rd, Mutual Insurance Co Donegal bought 9,000 shares of Donegal Group stock. The shares were acquired at an average price of $17.63 per share, for a total transaction of $158,670.00.

Donegal Group Stock Performance

Donegal Group stock opened at $17.36 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. Donegal Group, Inc. has a 1 year low of $16.11 and a 1 year high of $21.06. The company has a market cap of $643.19 million, a PE ratio of 9.70 and a beta of 0.01. The company’s 50-day moving average is $17.25 and its two-hundred day moving average is $18.48.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The business had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. Equities analysts anticipate that Donegal Group, Inc. will post 1.7 earnings per share for the current year.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Friday, May 1st. This is a boost from Donegal Group’s previous quarterly dividend of $0.18. Donegal Group’s dividend payout ratio is currently 43.02%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DGICA shares. Keefe, Bruyette & Woods cut their target price on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, May 1st. Weiss Ratings downgraded shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.00.

Institutional Trading of Donegal Group

Hedge funds have recently modified their holdings of the company. Sierra Summit Advisors LLC acquired a new stake in shares of Donegal Group in the 3rd quarter valued at approximately $799,000. Fidelis Capital Partners LLC acquired a new stake in Donegal Group during the 4th quarter worth approximately $204,000. Royce & Associates LP raised its holdings in Donegal Group by 579.4% during the 4th 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 period. Strs Ohio raised its holdings in Donegal Group by 3.7% during the 4th quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock worth $565,000 after buying an additional 1,000 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Donegal Group during the 4th quarter worth approximately $408,000. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Donegal Group Company Profile

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.