Donegal Group, Inc. (NASDAQ:DGICA – Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 8,500 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were purchased at an average cost of $16.98 per share, with a total value of $144,330.00. Following the transaction, the insider directly owned 14,081,609 shares in the company, valued at $239,105,720.82. This trade represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 Tuesday, May 26th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.33 per share, with a total value of $147,305.00.
- On Friday, May 22nd, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.40 per share, with a total value of $147,900.00.
- On Wednesday, May 20th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.43 per share, with a total value of $148,155.00.
- On Tuesday, May 19th, Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group stock. The stock was bought at an average cost of $17.48 per share, with a total value of $145,573.44.
- On Monday, May 18th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was bought at an average cost of $17.33 per share, with a total value of $147,305.00.
- On Friday, May 15th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was bought 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 bought 8,500 shares of Donegal Group stock. The stock was bought 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 bought 8,500 shares of Donegal Group stock. The stock was bought 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 bought 8,077 shares of Donegal Group stock. The stock was bought 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 bought 8,500 shares of Donegal Group stock. The stock was bought at an average cost of $17.06 per share, with a total value of $145,010.00.
Donegal Group Trading Down 0.6%
NASDAQ:DGICA opened at $16.97 on Friday. The company has a 50-day moving average price of $17.25 and a 200-day moving average price of $18.44. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. 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 stock has a market cap of $628.74 million, a price-to-earnings ratio of 9.48 and a beta of 0.01.
Donegal Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $0.1925 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.77 annualized dividend and a dividend yield of 4.5%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.18. Donegal Group’s dividend payout ratio is 43.02%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on DGICA. Keefe, Bruyette & Woods reduced 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 lowered shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Donegal Group presently has an average rating of “Hold” and a consensus target price of $18.00.
Get Our Latest Stock Report on DGICA
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC increased its stake in shares of Donegal Group by 576.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 2,341 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Donegal Group by 422.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after acquiring an additional 2,975 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Donegal Group by 1,377.6% in the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 3,513 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Donegal Group by 31.6% in 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 in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Donegal Group by 443.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock worth $99,000 after acquiring an additional 4,022 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors.
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.
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