Donegal Group, Inc. (NASDAQ:DGICA – Get Free Report) major shareholder Mutual Insurance Co Donegal bought 9,508 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were acquired at an average price of $19.11 per share, for a total transaction of $181,697.88. Following the acquisition, the insider directly owned 14,233,714 shares of the company’s stock, valued at approximately $272,006,274.54. The trade was a 0.07% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more 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 Monday, August 24th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.06 per share, with a total value of $190,600.00.
- On Friday, August 21st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $18.68 per share, for a total transaction of $186,800.00.
- On Thursday, August 20th, Mutual Insurance Co Donegal acquired 9,815 shares of Donegal Group stock. The stock was bought at an average price of $18.66 per share, with a total value of $183,147.90.
- On Wednesday, August 19th, Mutual Insurance Co Donegal bought 9,700 shares of Donegal Group stock. The stock was bought at an average cost of $18.61 per share, with a total value of $180,517.00.
- On Monday, August 17th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average price of $18.52 per share, for a total transaction of $185,200.00.
- On Thursday, August 6th, Mutual Insurance Co Donegal purchased 18,000 shares of Donegal Group stock. The shares were bought at an average cost of $19.67 per share, for a total transaction of $354,060.00.
- On Friday, June 12th, Mutual Insurance Co Donegal purchased 9,682 shares of Donegal Group stock. The stock was bought at an average cost of $17.62 per share, with a total value of $170,596.84.
- On Thursday, June 11th, Mutual Insurance Co Donegal acquired 9,900 shares of Donegal Group stock. The stock was bought at an average price of $17.56 per share, with a total value of $173,844.00.
- On Wednesday, June 3rd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $16.62 per share, for a total transaction of $166,200.00.
- On Monday, June 1st, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.76 per share, for a total transaction of $142,460.00.
Donegal Group Trading Down 0.8%
Shares of NASDAQ DGICA traded down $0.15 during midday trading on Thursday, hitting $18.95. The stock had a trading volume of 47,305 shares, compared to its average volume of 127,285. The company’s 50-day simple moving average is $18.80 and its 200 day simple moving average is $17.89. The firm has a market cap of $703.44 million, a P/E ratio of 9.82 and a beta of -0.01. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.
Donegal Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s payout ratio is currently 39.90%.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Donegal Group from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Weiss Ratings raised shares of Donegal Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Donegal Group has an average rating of “Moderate Buy” and an average price target of $20.00.
View Our Latest Stock Analysis on Donegal Group
Hedge Funds Weigh In On Donegal Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Donegal Group by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock valued at $29,846,000 after buying an additional 7,345 shares in the last quarter. Vanguard Group Inc. grew its stake in Donegal Group by 4.0% in the third quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider’s stock valued at $19,549,000 after acquiring an additional 39,181 shares during the period. Geode Capital Management LLC increased its holdings in shares of Donegal Group by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 534,703 shares of the insurance provider’s stock worth $10,685,000 after acquiring an additional 11,891 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Donegal Group by 5.8% in the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock worth $6,747,000 after acquiring an additional 21,500 shares in the last quarter. Finally, State Street Corp raised its position in shares of Donegal Group by 0.8% during the fourth quarter. State Street Corp now owns 391,729 shares of the insurance provider’s stock worth $7,827,000 after purchasing an additional 3,290 shares during the period. 27.96% of the stock is 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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