Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 19,212 Shares

Key Points

• Mutual Insurance Co Donegal, a major shareholder, recently acquired 19,212 shares of Donegal Group stock at an average cost of $19.22 per share, increasing their holdings to approximately $260.6 million.
• Donegal Group reported a quarterly earnings per share (EPS) of $0.43, exceeding analysts' expectations of $0.36, while total revenue for the quarter was $233.81 million.
• Donegal Group recently declared a quarterly dividend of $0.1825 per share, translating to a 3.8% dividend yield at an annualized rate of $0.73.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 19,212 shares of the company's stock in a transaction on Thursday, September 4th. The stock was bought at an average cost of $19.22 per share, for a total transaction of $369,254.64. Following the completion of the acquisition, the insider directly owned 13,559,629 shares of the company's stock, valued at approximately $260,616,069.38. This represents a 0.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Wednesday, September 3rd, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The shares were acquired 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 bought 19,440 shares of Donegal Group stock. The stock was purchased at an average cost of $18.27 per share, for a total transaction of $355,168.80.
• On Friday, August 29th, Mutual Insurance Co Donegal purchased 20,000 shares of Donegal Group stock. The stock was bought at an average price of $17.84 per share, with a total value of $356,800.00.
• On Thursday, August 28th, Mutual Insurance Co Donegal purchased 8,032 shares of Donegal Group stock. The stock was bought 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 bought 15,815 shares of Donegal Group stock. The shares were acquired 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 shares were acquired at an average price of $17.49 per share, with a total value of $271,252.41.

Donegal Group Price Performance

Shares of NASDAQ:DGICA traded up $0.18 during trading on Monday, hitting $19.04. 46,396 shares of the company's stock were exchanged, compared to its average volume of 130,787. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.40 and a quick ratio of 0.40. Donegal Group, Inc. has a 52-week low of $14.06 and a 52-week high of $21.12. The business's 50-day simple moving average is $17.99 and its 200 day simple moving average is $18.60. The company has a market cap of $694.97 million and a price-to-earnings ratio of 8.00.

Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 14.33% and a net margin of 8.33%. As a group, equities analysts predict that Donegal Group, Inc. will post 1.2 EPS for the current year.

Donegal Group Dividend Announcement

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

Analyst Ratings Changes

DGICA has been the topic of several research analyst reports. Janney Montgomery Scott upgraded Donegal Group from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 2nd. Zacks Research upgraded Donegal Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Finally, Wall Street Zen cut Donegal Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $18.00.

Institutional Investors Weigh In On Donegal Group

Several hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC acquired a new stake in Donegal Group in the second quarter valued at about $6,343,000. CSM Advisors LLC acquired a new stake in Donegal Group in the second quarter valued at about $3,699,000. American Century Companies Inc. lifted its position in Donegal Group by 294.1% in the second quarter. American Century Companies Inc. now owns 149,611 shares of the insurance provider's stock valued at $2,996,000 after purchasing an additional 111,647 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Donegal Group by 33.0% in the second 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 during the period. Finally, Teacher Retirement System of Texas lifted its position in Donegal Group by 78.7% in the second quarter. Teacher Retirement System of Texas now owns 191,376 shares of the insurance provider's stock valued at $3,832,000 after purchasing an additional 84,263 shares during the period. 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.

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