Donegal Group, Inc. (NASDAQ:DGICA – Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was acquired at an average cost of $17.33 per share, with a total value of $147,305.00. Following the completion of the transaction, the insider owned 14,022,281 shares of the company’s stock, valued at approximately $243,006,129.73. The trade was a 0.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Mutual Insurance Co Donegal also recently made the following trade(s):
- On Friday, May 15th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.16 per share, with a total value of $145,860.00.
- On Wednesday, May 13th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $16.86 per share, with a total value of $143,310.00.
- On Monday, May 11th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.18 per share, with a total value of $146,030.00.
- On Friday, May 8th, Mutual Insurance Co Donegal acquired 8,077 shares of Donegal Group stock. The stock was acquired at an average cost of $17.13 per share, with a total value of $138,359.01.
- On Thursday, May 7th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.06 per share, with a total value of $145,010.00.
- On Tuesday, May 5th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $16.50 per share, with a total value of $140,250.00.
- On Tuesday, March 3rd, Mutual Insurance Co Donegal acquired 9,000 shares of Donegal Group stock. The stock was acquired at an average cost of $17.63 per share, with a total value of $158,670.00.
Donegal Group Stock Performance
Shares of NASDAQ DGICA traded up $0.24 during trading hours on Tuesday, reaching $17.57. 38,393 shares of the stock were exchanged, compared to its average volume of 119,587. The firm has a market capitalization of $651.12 million, a price-to-earnings ratio of 9.83 and a beta of 0.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.12. The stock’s fifty day simple moving average is $17.20 and its 200 day simple moving average is $18.54.
Donegal Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.4%. This is an increase from Donegal Group’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio is 43.02%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on DGICA. Keefe, Bruyette & Woods lowered their target price on Donegal Group from $19.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, May 1st. Weiss Ratings lowered Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note 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 company has a consensus rating of “Hold” and an average target price of $18.00.
Check Out Our Latest Stock Analysis on Donegal Group
Institutional Investors Weigh In On Donegal Group
A number of large investors have recently modified their holdings of DGICA. Royce & Associates LP boosted its holdings in shares of Donegal Group by 579.4% in the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock valued at $3,394,000 after purchasing an additional 144,853 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Donegal Group by 117.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider’s stock valued at $4,718,000 after purchasing an additional 127,470 shares in the last quarter. Two Sigma Investments LP boosted 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 valued at $2,956,000 after purchasing an additional 88,878 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Donegal Group by 41.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock valued at $4,746,000 after purchasing an additional 80,614 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Donegal Group by 157.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 131,574 shares of the insurance provider’s stock valued at $2,635,000 after purchasing an additional 80,395 shares in the last quarter. Institutional investors and hedge funds 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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