Donegal Group (NASDAQ:DGICA) Major Shareholder Buys $363,377.50 in Stock

Key Points

• Mutual Insurance Co Donegal, a major shareholder, recently purchased 19,025 shares of Donegal Group stock for approximately $363,377.50, increasing their ownership to over 13.5 million shares.
• Donegal Group's stock is currently trading at $19.01, with a 52-week range of $14.06 to $21.12, reflecting a stable trading performance.
• The company announced a $0.1825 quarterly dividend, resulting in an annualized dividend yield of 3.8% and a payout ratio of 30.67%.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 19,025 shares of the business's stock in a transaction on Monday, September 8th. The shares were bought at an average price of $19.10 per share, with a total value of $363,377.50. Following the purchase, the insider directly owned 13,578,654 shares in the company, valued at approximately $259,352,291.40. The trade was a 0.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 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 Tuesday, September 9th, Mutual Insurance Co Donegal bought 19,352 shares of Donegal Group stock. The shares were purchased at an average cost of $19.24 per share, for a total transaction of $372,332.48.
• On Thursday, September 4th, Mutual Insurance Co Donegal bought 19,212 shares of Donegal Group stock. The shares were purchased at an average cost of $19.22 per share, for a total transaction of $369,254.64.
• On Wednesday, September 3rd, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The stock was bought at an average cost of $18.37 per share, for a total transaction of $367,400.00.
• On Tuesday, September 2nd, Mutual Insurance Co Donegal purchased 19,440 shares of Donegal Group stock. The stock was bought at an average price of $18.27 per share, with a total value of $355,168.80.
• On Friday, August 29th, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The shares were bought at an average cost of $17.84 per share, for a total transaction of $356,800.00.
• On Thursday, August 28th, Mutual Insurance Co Donegal purchased 8,032 shares of Donegal Group stock. The shares were purchased at an average price of $17.61 per share, with a total value of $141,443.52.
• On Tuesday, August 26th, Mutual Insurance Co Donegal purchased 15,815 shares of Donegal Group stock. The shares were purchased at an average price of $17.45 per share, with a total value of $275,971.75.
• On Wednesday, August 27th, Mutual Insurance Co Donegal bought 15,509 shares of Donegal Group stock. The stock was bought at an average price of $17.49 per share, with a total value of $271,252.41.

Donegal Group Price Performance

NASDAQ:DGICA traded down $0.27 during midday trading on Wednesday, hitting $19.01. The company had a trading volume of 54,776 shares, compared to its average volume of 131,443. Donegal Group, Inc. has a 52-week low of $14.06 and a 52-week high of $21.12. The stock's fifty day moving average price is $17.97 and its 200-day moving average price is $18.63. The company has a market capitalization of $694.04 million and a PE ratio of 7.99. 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 (NASDAQ:DGICA - Get Free Report) last announced its earnings results on Thursday, July 24th. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.07. The company had revenue of $233.81 million during the quarter, compared to analyst estimates of $247.21 million. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. As a group, research analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $0.1825 per share. This represents a $0.73 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, August 1st. Donegal Group's dividend payout ratio is 30.67%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DGICA. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Donegal Group by 24.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,875 shares of the insurance provider's stock valued at $272,000 after buying an additional 2,695 shares in the last quarter. GAMMA Investing LLC grew its stake in Donegal Group by 4,607.4% during the first quarter. GAMMA Investing LLC now owns 14,075 shares of the insurance provider's stock valued at $276,000 after acquiring an additional 13,776 shares in the last quarter. Hsbc Holdings PLC grew its stake in Donegal Group by 21.4% during the first quarter. Hsbc Holdings PLC now owns 47,551 shares of the insurance provider's stock valued at $936,000 after acquiring an additional 8,394 shares in the last quarter. Two Sigma Investments LP grew its stake in Donegal Group by 87.6% during the fourth quarter. Two Sigma Investments LP now owns 89,437 shares of the insurance provider's stock valued at $1,384,000 after acquiring an additional 41,763 shares in the last quarter. Finally, XTX Topco Ltd increased 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 buying an additional 5,935 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Janney Montgomery Scott raised shares of Donegal Group from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 2nd. Zacks Research upgraded shares of Donegal Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen cut shares of Donegal Group from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus 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.

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