Donegal Group, Inc. (NASDAQ:DGICA – Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock in a transaction dated Monday, June 1st. The shares were bought at an average price of $16.76 per share, for a total transaction of $142,460.00. Following the transaction, the insider owned 14,098,609 shares of the company’s stock, valued at approximately $236,292,686.84. The trade was a 0.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% 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 acquired 8,500 shares of Donegal Group stock. The shares were bought at an average price of $16.98 per share, for a total transaction of $144,330.00.
- On Tuesday, May 26th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average price of $17.33 per share, for a total transaction of $147,305.00.
- On Friday, May 22nd, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average price of $17.40 per share, for a total transaction of $147,900.00.
- On Wednesday, May 20th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average price of $17.43 per share, for a total transaction of $148,155.00.
- On Tuesday, May 19th, Mutual Insurance Co Donegal acquired 8,328 shares of Donegal Group stock. The shares were bought at an average price of $17.48 per share, for a total transaction of $145,573.44.
- On Monday, May 18th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average price of $17.33 per share, for a total transaction of $147,305.00.
- On Friday, May 15th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average price of $17.16 per share, for a total transaction of $145,860.00.
- On Wednesday, May 13th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average price of $16.86 per share, for a total transaction of $143,310.00.
- On Monday, May 11th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average price of $17.18 per share, for a total transaction of $146,030.00.
- On Friday, May 8th, Mutual Insurance Co Donegal acquired 8,077 shares of Donegal Group stock. The shares were bought at an average price of $17.13 per share, for a total transaction of $138,359.01.
Donegal Group Trading Up 0.4%
Donegal Group stock opened at $16.98 on Wednesday. The stock has a market cap of $629.11 million, a P/E ratio of 9.49 and a beta of 0.01. 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, Inc. has a 1 year low of $16.11 and a 1 year high of $21.06. The firm’s 50 day moving average price is $17.25 and its 200-day moving average price is $18.41.
Donegal Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a $0.1925 dividend. This is a boost from Donegal Group’s previous quarterly dividend of $0.18. This represents a $0.77 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio (DPR) is presently 43.02%.
Analyst Ratings Changes
Several brokerages recently weighed in on DGICA. Weiss Ratings cut shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods reduced their price target 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. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Donegal Group currently has a consensus rating of “Hold” and an average price target of $18.00.
Get Our Latest Report on Donegal Group
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Royce & Associates LP boosted its stake in Donegal Group by 579.4% during the fourth quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider’s stock worth $3,394,000 after buying an additional 144,853 shares during the period. Sierra Summit Advisors LLC purchased a new position in Donegal Group during the third quarter worth $799,000. Hazlett Burt & Watson Inc. boosted its stake in Donegal Group by 18.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 12,936 shares of the insurance provider’s stock worth $258,000 after buying an additional 2,000 shares during the period. IFP Advisors Inc boosted its stake in Donegal Group by 1,377.6% during the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock worth $75,000 after buying an additional 3,513 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in Donegal Group during the fourth quarter worth $204,000. 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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