Donegal Group, Inc. (NASDAQ:DGICA – Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 8,500 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $17.33 per share, for a total transaction of $147,305.00. Following the completion of the purchase, the insider directly owned 14,064,609 shares in the company, valued at approximately $243,739,673.97. This trade represents a 0.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Mutual Insurance Co Donegal also recently made the following trade(s):
- On Thursday, May 28th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought at an average cost of $16.98 per share, for a total transaction of $144,330.00.
- On Friday, May 22nd, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought at an average cost of $17.40 per share, for a total transaction of $147,900.00.
- On Wednesday, May 20th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired 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 bought 8,328 shares of Donegal Group stock. The shares were acquired 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 bought 8,500 shares of Donegal Group stock. The shares were acquired 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 purchased 8,500 shares of Donegal Group stock. The stock was purchased 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 purchased 8,500 shares of Donegal Group stock. The stock was purchased 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 purchased 8,500 shares of Donegal Group stock. The stock was purchased 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 purchased 8,077 shares of Donegal Group stock. The stock was purchased 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 bought 8,500 shares of Donegal Group stock. The stock was bought at an average cost of $17.06 per share, for a total transaction of $145,010.00.
Donegal Group Trading Down 0.6%
NASDAQ DGICA opened at $16.97 on Friday. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The stock has a market cap of $628.74 million, a P/E ratio of 9.48 and a beta of 0.01. The stock’s fifty day moving average price is $17.25 and its 200-day moving average price is $18.44. 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 Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.1925 per share. The ex-dividend date of this dividend was 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 dividend yield of 4.5%. Donegal Group’s dividend payout ratio is currently 43.02%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. Weiss Ratings downgraded Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. 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 report on Friday, May 1st. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.00.
Check Out Our Latest Analysis on Donegal Group
Institutional Trading of Donegal Group
Hedge funds and other institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its stake in shares of Donegal Group by 31.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 896 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Donegal Group by 8.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock worth $237,000 after acquiring an additional 1,000 shares during the last quarter. Strs Ohio lifted its stake in shares of 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 acquiring an additional 1,000 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Donegal Group by 1.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider’s stock worth $2,576,000 after acquiring an additional 1,274 shares during the last quarter. Finally, Mariner LLC raised its position in Donegal Group by 9.9% during the 4th quarter. Mariner LLC now owns 14,874 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 1,342 shares in the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.
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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