Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Buys 36,239 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 36,239 shares of Donegal Group stock in a transaction on Thursday, May 1st. The stock was purchased at an average price of $19.38 per share, with a total value of $702,311.82. Following the purchase, the insider now owns 13,370,621 shares of the company's stock, valued at $259,122,634.98. The trade was a 0.27 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 Friday, March 14th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The stock was bought at an average cost of $18.14 per share, for a total transaction of $145,120.00.
• On Wednesday, March 12th, Mutual Insurance Co Donegal bought 11,600 shares of Donegal Group stock. The stock was purchased at an average cost of $17.59 per share, for a total transaction of $204,044.00.
• On Monday, March 10th, Mutual Insurance Co Donegal purchased 15,000 shares of Donegal Group stock. The shares were purchased at an average cost of $17.83 per share, with a total value of $267,450.00.
• On Friday, March 7th, Mutual Insurance Co Donegal bought 14,608 shares of Donegal Group stock. The shares were acquired at an average price of $17.96 per share, for a total transaction of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal purchased 15,000 shares of Donegal Group stock. The stock was bought at an average price of $17.98 per share, with a total value of $269,700.00.
• On Monday, March 3rd, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The shares were bought at an average price of $17.85 per share, for a total transaction of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal purchased 14,700 shares of Donegal Group stock. The shares were purchased at an average cost of $17.06 per share, for a total transaction of $250,782.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal acquired 12,000 shares of Donegal Group stock. The stock was acquired at an average price of $16.49 per share, for a total transaction of $197,880.00.

Donegal Group Price Performance

DGICA stock traded down $0.19 during trading on Friday, hitting $19.72. The stock had a trading volume of 75,128 shares, compared to its average volume of 83,143. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $20.51. The stock has a market cap of $702.80 million, a price-to-earnings ratio of 12.97 and a beta of -0.05. The company's 50 day moving average price is $18.69 and its two-hundred day moving average price is $16.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38.

Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.38. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. The firm had revenue of $245.57 million for the quarter, compared to analyst estimates of $248.73 million. On average, sell-side analysts forecast that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a $0.1825 dividend. This is an increase from Donegal Group's previous quarterly dividend of $0.17. The ex-dividend date is Thursday, May 1st. This represents a $0.73 annualized dividend and a dividend yield of 3.70%. Donegal Group's dividend payout ratio is presently 35.61%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their price objective on Donegal Group from $17.00 to $18.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th.

Institutional Trading of Donegal Group

Several large investors have recently bought and sold shares of DGICA. Deutsche Bank AG increased its holdings in Donegal Group by 566.5% in the first quarter. Deutsche Bank AG now owns 12,863 shares of the insurance provider's stock valued at $253,000 after buying an additional 10,933 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Donegal Group by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 946,432 shares of the insurance provider's stock valued at $18,578,000 after buying an additional 19,174 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Donegal Group by 56.8% in the 1st quarter. XTX Topco Ltd now owns 16,387 shares of the insurance provider's stock worth $322,000 after purchasing an additional 5,935 shares during the last quarter. Pinnacle Associates Ltd. acquired a new position in shares of Donegal Group during the first quarter valued at $714,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Donegal Group in the 1st quarter worth about $489,000. Institutional investors and hedge funds own 27.96% of the company's stock.

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.