Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $480,930.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA – Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 25,500 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were bought at an average price of $18.86 per share, for a total transaction of $480,930.00. Following the acquisition, the insider owned 14,427,628 shares in the company, valued at $272,105,064.08. This trade represents a 0.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more 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, November 6th, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The stock was acquired at an average price of $18.74 per share, for a total transaction of $140,550.00.
  • On Tuesday, November 3rd, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The stock was acquired at an average cost of $18.69 per share, with a total value of $140,175.00.
  • On Friday, September 11th, Mutual Insurance Co Donegal purchased 54,725 shares of Donegal Group stock. The stock was acquired at an average cost of $19.23 per share, with a total value of $1,052,361.75.
  • On Wednesday, September 9th, Mutual Insurance Co Donegal acquired 13,469 shares of Donegal Group stock. The shares were bought at an average cost of $19.13 per share, for a total transaction of $257,661.97.
  • On Thursday, September 10th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was bought at an average price of $19.13 per share, with a total value of $191,300.00.
  • On Tuesday, September 8th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were purchased at an average price of $19.14 per share, for a total transaction of $191,400.00.
  • On Friday, September 4th, Mutual Insurance Co Donegal bought 6,368 shares of Donegal Group stock. The stock was purchased at an average cost of $19.39 per share, with a total value of $123,475.52.
  • On Thursday, September 3rd, Mutual Insurance Co Donegal purchased 9,595 shares of Donegal Group stock. The shares were purchased at an average price of $19.53 per share, for a total transaction of $187,390.35.
  • On Wednesday, September 2nd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.43 per share, for a total transaction of $194,300.00.
  • On Tuesday, September 1st, Mutual Insurance Co Donegal bought 9,257 shares of Donegal Group stock. The shares were acquired at an average price of $19.17 per share, for a total transaction of $177,456.69.

Donegal Group Stock Down 0.1%

Shares of NASDAQ:DGICA opened at $18.95 on Thursday. The stock has a market cap of $703.42 million, a P/E ratio of 10.25 and a beta of -0.03. The firm has a fifty day moving average price of $18.68 and a 200 day moving average price of $18.15. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.40 and a quick ratio of 0.39. Donegal Group, Inc. has a 1-year low of $16.11 and a 1-year high of $21.06.

Donegal Group (NASDAQ:DGICA – Get Free Report) last announced its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. Donegal Group had a net margin of 7.24% and a return on equity of 10.45%. The business had revenue of $237.66 million during the quarter, compared to the consensus estimate of $214.12 million. Sell-side analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.1925 per share. The ex-dividend date is Monday, November 2nd. This represents a $0.77 dividend on an annualized basis and a yield of 4.1%. Donegal Group’s dividend payout ratio is presently 41.18%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Zacks Research raised Donegal Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. Weiss Ratings raised shares of Donegal Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.00.

Check Out Our Latest Research Report on Donegal Group

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Donegal Group by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock worth $29,846,000 after purchasing an additional 7,345 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Donegal Group by 5.8% in the 1st quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock worth $6,747,000 after purchasing an additional 21,500 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Donegal Group by 41.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider’s stock worth $4,746,000 after purchasing an additional 80,614 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Donegal Group by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider’s stock worth $2,862,000 after purchasing an additional 9,075 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in Donegal Group by 3.5% in the third quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider’s stock worth $1,710,000 after purchasing an additional 3,264 shares in the last quarter. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

Donegal Group Company Profile

(Get Free Report)

Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers’ compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.

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