Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $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 company's stock in a transaction on Monday, September 8th. The stock was bought at an average price of $19.10 per share, for a total transaction of $363,377.50. Following the completion of the purchase, the insider directly owned 13,578,654 shares of the company's stock, valued at $259,352,291.40. The trade was a 0.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 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, September 12th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The stock was bought 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 purchased 16,573 shares of Donegal Group stock. The stock was bought at an average price 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 stock was bought at an average price of $18.99 per share, for a total transaction of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal purchased 19,352 shares of Donegal Group stock. The stock was bought at an average price of $19.24 per share, for a total transaction of $372,332.48.
• On Thursday, September 4th, Mutual Insurance Co Donegal purchased 19,212 shares of Donegal Group stock. The stock was bought at an average price 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 price 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, 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 price 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 stock was acquired 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 stock was acquired at an average price of $17.45 per share, with a total value of $275,971.75.

Donegal Group Stock Performance

DGICA stock traded down $0.15 on Monday, hitting $19.33. The company's stock had a trading volume of 145,018 shares, compared to its average volume of 132,044. The firm has a 50 day moving average of $17.98 and a two-hundred day moving average of $18.70. Donegal Group, Inc. has a 1 year low of $14.06 and a 1 year high of $21.12. The stock has a market cap of $705.70 million and a price-to-earnings ratio of 8.12. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.06.

Donegal Group (NASDAQ:DGICA - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. The firm had revenue of $233.81 million during the quarter, compared to the consensus estimate of $247.21 million. Equities analysts predict that Donegal Group, Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Announces Dividend

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

Hedge Funds Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Donegal Group by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 946,432 shares of the insurance provider's stock valued at $18,578,000 after purchasing an additional 19,174 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Donegal Group by 6.6% in the 2nd quarter. Geode Capital Management LLC now owns 409,082 shares of the insurance provider's stock valued at $8,193,000 after purchasing an additional 25,259 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Donegal Group by 33.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider's stock valued at $7,132,000 after purchasing an additional 88,462 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of Donegal Group in the 2nd quarter valued at approximately $6,343,000. Finally, Kennedy Capital Management LLC increased its holdings in shares of Donegal Group by 7.8% in the 2nd quarter. Kennedy Capital Management LLC now owns 205,631 shares of the insurance provider's stock valued at $4,118,000 after acquiring an additional 14,846 shares during the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DGICA has been the subject of several recent research reports. Janney Montgomery Scott raised Donegal Group from a "neutral" rating to a "buy" rating in a report on Tuesday, September 2nd. Zacks Research raised Donegal Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen downgraded Donegal Group from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price 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.