Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 16,573 Shares

Key Points

• Mutual Insurance Co Donegal acquired an additional 16,573 shares of Donegal Group on September 11th, increasing its ownership to a total of 13,634,579 shares, valued at approximately $265 million.
• Donegal Group's stock price decreased by 0.7%, trading at $19.59, with a market cap of $715.05 million and a P/E ratio of 8.23.
• The company announced a quarterly dividend of $0.1825 per share, resulting in an annualized yield of 3.7%, with a dividend payout ratio of 30.67%.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 16,573 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average price of $19.45 per share, with a total value of $322,344.85. Following the completion of the purchase, the insider directly owned 13,634,579 shares of the company's stock, valued at approximately $265,192,561.55. The trade was a 0.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major 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 Friday, September 12th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.53 per share, with a total value of $390,600.00.
• On Wednesday, September 10th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The shares were purchased at an average cost of $18.99 per share, with a total value of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal bought 19,352 shares of Donegal Group stock. The stock was bought at an average cost of $19.24 per share, with a total value of $372,332.48.
• On Monday, September 8th, Mutual Insurance Co Donegal purchased 19,025 shares of Donegal Group stock. The stock was acquired at an average price of $19.10 per share, for a total transaction of $363,377.50.
• On Thursday, September 4th, Mutual Insurance Co Donegal purchased 19,212 shares of Donegal Group stock. The stock was acquired 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 acquired 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 acquired 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 acquired 20,000 shares of Donegal Group stock. The shares were purchased 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 acquired 8,032 shares of Donegal Group stock. The shares were purchased at an average price of $17.61 per share, for a total transaction of $141,443.52.
• On Tuesday, August 26th, Mutual Insurance Co Donegal acquired 15,815 shares of Donegal Group stock. The shares were purchased at an average price of $17.45 per share, for a total transaction of $275,971.75.

Donegal Group Stock Up 2.0%

NASDAQ DGICA traded up $0.39 on Wednesday, hitting $19.43. 28,812 shares of the stock traded hands, compared to its average volume of 131,734. The stock has a 50-day moving average of $17.99 and a 200 day moving average of $18.71. Donegal Group, Inc. has a twelve month low of $14.06 and a twelve month high of $21.12. The company has a market capitalization of $709.39 million and a P/E ratio of 8.13. 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 announced its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. The firm had revenue of $233.81 million for the quarter, compared to analysts' expectations of $247.21 million. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%. As a group, analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on DGICA. Janney Montgomery Scott raised Donegal Group from a "neutral" rating to a "buy" rating in a report on Tuesday, September 2nd. Wall Street Zen lowered Donegal Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Zacks Research raised Donegal Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $18.00.

Institutional Trading of Donegal Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jump Financial LLC boosted its position in shares of Donegal Group by 3.1% in the first quarter. Jump Financial LLC now owns 17,952 shares of the insurance provider's stock worth $352,000 after buying an additional 533 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Donegal Group by 5.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,578 shares of the insurance provider's stock worth $282,000 after buying an additional 703 shares during the period. Bank of America Corp DE boosted its position in shares of Donegal Group by 3.0% in the fourth quarter. Bank of America Corp DE now owns 29,572 shares of the insurance provider's stock worth $457,000 after buying an additional 871 shares during the period. CWM LLC boosted its position in Donegal Group by 21.9% during the second quarter. CWM LLC now owns 6,293 shares of the insurance provider's stock valued at $126,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Martingale Asset Management L P boosted its position in Donegal Group by 4.2% during the first quarter. Martingale Asset Management L P now owns 28,509 shares of the insurance provider's stock valued at $560,000 after purchasing an additional 1,156 shares during the last quarter. 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.