Donegal Group, Inc. (NASDAQ:DGICA – Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 9,900 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $17.56 per share, with a total value of $173,844.00. Following the acquisition, the insider directly owned 14,127,009 shares in the company, valued at approximately $248,070,278.04. This trade represents a 0.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large 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 Friday, June 12th, Mutual Insurance Co Donegal bought 9,682 shares of Donegal Group stock. The stock was purchased at an average cost of $17.62 per share, for a total transaction of $170,596.84.
- On Wednesday, June 3rd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was 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 bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $16.76 per share, for a total transaction of $142,460.00.
- On Thursday, May 28th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $16.98 per share, for a total transaction of $144,330.00.
- On Tuesday, May 26th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.33 per share, for a total transaction of $147,305.00.
- On Friday, May 22nd, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.40 per share, for a total transaction of $147,900.00.
- On Wednesday, May 20th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.43 per share, for a total transaction of $148,155.00.
- On Tuesday, May 19th, Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group stock. The stock was purchased at an average cost of $17.48 per share, for a total transaction of $145,573.44.
- On Monday, May 18th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.33 per share, for a total transaction of $147,305.00.
- On Friday, May 15th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.16 per share, for a total transaction of $145,860.00.
Donegal Group Price Performance
DGICA stock opened at $17.53 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The firm has a market cap of $649.49 million, a P/E ratio of 9.79 and a beta of 0.01. The company’s 50-day moving average price is $17.27 and its two-hundred day moving average price is $18.19.
Donegal Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, May 1st. This is an increase from Donegal Group’s previous quarterly dividend of $0.18. Donegal Group’s dividend payout ratio is 43.02%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note 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 note on Friday, May 1st. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Donegal Group currently has a consensus rating of “Hold” and a consensus price target of $18.00.
View Our Latest Stock Analysis on DGICA
Institutional Investors Weigh In On Donegal Group
A number of hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co boosted 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 valued at $75,000 after purchasing an additional 896 shares in the last quarter. Strs Ohio raised its holdings in Donegal Group by 3.7% in the 4th quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock valued at $565,000 after buying an additional 1,000 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Donegal Group by 8.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock valued at $237,000 after buying an additional 1,000 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in Donegal Group by 1.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider’s stock valued at $2,576,000 after buying an additional 1,274 shares during the last quarter. Finally, Mariner LLC raised its holdings in Donegal Group by 9.9% in the 4th quarter. Mariner LLC now owns 14,874 shares of the insurance provider’s stock valued at $297,000 after buying an additional 1,342 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.
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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