Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $153,040.00 in Stock

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 8,000 shares of the stock in a transaction dated Thursday, November 6th. The stock was acquired at an average cost of $19.13 per share, for a total transaction of $153,040.00. Following the completion of the transaction, the insider owned 13,678,579 shares of the company’s stock, valued at $261,671,216.27. The trade was a 0.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 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 Tuesday, November 4th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The stock was bought at an average price of $18.71 per share, for a total transaction of $149,680.00.
• On Friday, September 12th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.53 per share, for a total transaction of $390,600.00.
• On Thursday, September 11th, Mutual Insurance Co Donegal bought 16,573 shares of Donegal Group stock. The stock was acquired at an average cost of $19.45 per share, for a total transaction of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The shares were acquired at an average cost of $18.99 per share, with a total value of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal acquired 19,352 shares of Donegal Group stock. The stock was acquired at an average cost of $19.24 per share, for a total transaction of $372,332.48.
• On Monday, September 8th, Mutual Insurance Co Donegal purchased 19,025 shares of Donegal Group stock. The stock was purchased at an average price of $19.10 per share, for a total transaction of $363,377.50.
• On Thursday, September 4th, Mutual Insurance Co Donegal purchased 19,212 shares of Donegal Group stock. The shares were acquired at an average price of $19.22 per share, with a total value of $369,254.64.
• On Wednesday, September 3rd, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The shares were acquired at an average cost of $18.37 per share, with a total value of $367,400.00.
• On Tuesday, September 2nd, Mutual Insurance Co Donegal acquired 19,440 shares of Donegal Group stock. The stock was acquired at an average price of $18.27 per share, for a total transaction of $355,168.80.
• On Friday, August 29th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The shares were acquired at an average cost of $17.84 per share, with a total value of $356,800.00.

Donegal Group Stock Up 1.1%

Shares of Donegal Group stock opened at $19.24 on Monday. The business has a fifty day simple moving average of $19.13 and a 200 day simple moving average of $18.93. The stock has a market cap of $702.43 million, a PE ratio of 8.08 and a beta of 0.01. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06. Donegal Group, Inc. has a 12 month low of $14.17 and a 12 month high of $21.12.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%.The company had revenue of $245.55 million for the quarter, compared to analyst estimates of $244.19 million. Research analysts predict that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be paid a $0.1825 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $0.73 dividend on an annualized basis and a yield of 3.8%. Donegal Group’s payout ratio is presently 30.17%.

Institutional Investors Weigh In On Donegal Group

Several hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new stake in shares of Donegal Group in the third quarter valued at approximately $26,000. Versant Capital Management Inc increased its holdings in shares of Donegal Group by 79.1% in the third quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider’s stock valued at $58,000 after purchasing an additional 1,329 shares during the last quarter. Allworth Financial LP raised its position in shares of Donegal Group by 477.2% in the second quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 2,448 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after buying an additional 2,975 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in 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 valued at $99,000 after acquiring an additional 4,022 shares during the period. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Donegal Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Janney Montgomery Scott upgraded Donegal Group from a “neutral” rating to a “buy” rating in a report on Tuesday, September 2nd. Zacks Research upgraded Donegal Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Donegal Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $18.00.

Donegal Group Company Profile

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.