Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Buys $1,407,930.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 71,000 shares of the stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $19.83 per share, with a total value of $1,407,930.00. Following the purchase, the insider now owns 13,441,621 shares of the company’s stock, valued at approximately $266,547,344.43. This trade represents a 0.53% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major 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 Thursday, May 1st, Mutual Insurance Co Donegal acquired 36,239 shares of Donegal Group stock. The stock was acquired at an average cost of $19.38 per share, with a total value of $702,311.82.
• On Friday, March 14th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The stock was acquired at an average cost of $18.14 per share, with a total value of $145,120.00.
• On Wednesday, March 12th, Mutual Insurance Co Donegal acquired 11,600 shares of Donegal Group stock. The stock was acquired at an average cost of $17.59 per share, with a total value of $204,044.00.
• On Monday, March 10th, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The stock was acquired at an average cost of $17.83 per share, with a total value of $267,450.00.
• On Friday, March 7th, Mutual Insurance Co Donegal bought 14,608 shares of Donegal Group stock. The stock was purchased at an average cost of $17.96 per share, for a total transaction of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The stock was purchased at an average cost of $17.98 per share, for a total transaction of $269,700.00.
• On Monday, March 3rd, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The stock was purchased at an average cost of $17.85 per share, for a total transaction of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal bought 14,700 shares of Donegal Group stock. The stock was purchased at an average cost of $17.06 per share, for a total transaction of $250,782.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal bought 12,000 shares of Donegal Group stock. The stock was purchased at an average cost of $16.49 per share, for a total transaction of $197,880.00.

Donegal Group Stock Up 3.6%

Shares of NASDAQ:DGICA opened at $20.44 on Friday. The firm’s 50 day moving average price is $18.85 and its 200 day moving average price is $16.78. The stock has a market cap of $728.46 million, a price-to-earnings ratio of 13.45 and a beta of -0.05. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.51. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.38. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. The company had revenue of $245.57 million for the quarter, compared to analysts’ expectations of $248.73 million. As a group, equities research analysts predict that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a dividend of $0.1825 per share. The ex-dividend date was Thursday, May 1st. This represents a $0.73 dividend on an annualized basis and a yield of 3.57%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio (DPR) is presently 35.61%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their target price on shares of Donegal Group from $17.00 to $18.00 and gave the company a “market perform” rating in a report on Friday, April 25th.

Institutional Trading of Donegal Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its holdings in Donegal Group by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,492 shares of the insurance provider’s stock worth $688,000 after purchasing an additional 1,773 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Donegal Group in the 4th quarter valued at $128,000. Bleakley Financial Group LLC acquired a new position in shares of Donegal Group in the 4th quarter valued at $244,000. KLP Kapitalforvaltning AS acquired a new position in shares of Donegal Group in the 4th quarter valued at $68,000. Finally, American Century Companies Inc. increased its holdings in shares of Donegal Group by 17.0% in the 4th quarter. American Century Companies Inc. now owns 26,006 shares of the insurance provider’s stock valued at $402,000 after acquiring an additional 3,775 shares during the period. Institutional investors and hedge funds own 27.96% of the company’s stock.

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.