Donegal Group, Inc. (NASDAQ:DGICA – Get Free Report) major shareholder Mutual Insurance Co Donegal bought 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was acquired at an average price of $17.06 per share, for a total transaction of $145,010.00. Following the transaction, the insider owned 13,963,204 shares in the company, valued at $238,212,260.24. This trade represents a 0.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Friday, May 8th, Mutual Insurance Co Donegal bought 8,077 shares of Donegal Group stock. The shares were bought at an average price of $17.13 per share, with a total value of $138,359.01.
- On Tuesday, May 5th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought at an average cost of $16.50 per share, for a total transaction of $140,250.00.
- On Tuesday, March 3rd, Mutual Insurance Co Donegal purchased 9,000 shares of Donegal Group stock. The shares were purchased at an average price of $17.63 per share, with a total value of $158,670.00.
Donegal Group Stock Performance
Shares of NASDAQ:DGICA opened at $17.14 on Tuesday. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.12. The company has a market cap of $634.18 million, a price-to-earnings ratio of 9.58 and a beta of 0.01. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $17.26 and a 200-day moving average price of $18.61.
Donegal Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be paid a $0.1925 dividend. The ex-dividend date of this dividend is Friday, May 1st. This is an increase from Donegal Group’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 4.5%. Donegal Group’s payout ratio is currently 43.02%.
Analyst Ratings Changes
Several research analysts recently issued reports on DGICA shares. Keefe, Bruyette & Woods decreased their price target on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.00.
View Our Latest Stock Analysis on Donegal Group
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Sierra Summit Advisors LLC bought a new stake in Donegal Group in the third quarter worth $799,000. Pinnacle Wealth Management Advisory Group LLC grew its stake in Donegal Group by 14.7% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 23,406 shares of the insurance provider’s stock worth $402,000 after acquiring an additional 3,006 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Donegal Group by 145.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 67,726 shares of the insurance provider’s stock worth $1,245,000 after purchasing an additional 40,078 shares during the period. State of Wyoming raised its holdings in shares of Donegal Group by 91.6% in the fourth quarter. State of Wyoming now owns 25,406 shares of the insurance provider’s stock valued at $508,000 after acquiring an additional 12,146 shares in the last quarter. Finally, Strs Ohio lifted its position in shares of Donegal Group by 3.7% in the 4th quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock worth $565,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 27.96% of the company’s stock.
About Donegal Group
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.
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