Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 8,032 Shares

Key Points

• Mutual Insurance Co Donegal increased its stake in Donegal Group by purchasing 8,032 shares at an average price of $17.61, raising its total holdings to approximately 13.48 million shares valued at over $237 million.
• Donegal Group's stock recently traded at $18.20, with a market cap of $664.30 million, and has a P/E ratio of 7.64.
• The company announced a quarterly dividend of $0.1825 per share, which translates to a 4.0% dividend yield on an annualized basis.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 8,032 shares of the company's stock in a transaction on Thursday, August 28th. The shares were purchased at an average cost of $17.61 per share, for a total transaction of $141,443.52. Following the acquisition, the insider owned 13,480,977 shares of the company's stock, valued at approximately $237,400,004.97. The trade was a 0.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 29th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The stock was purchased at an average cost of $17.84 per share, with a total value of $356,800.00.
• On Tuesday, August 26th, Mutual Insurance Co Donegal bought 15,815 shares of Donegal Group stock. The stock was purchased at an average cost of $17.45 per share, with a total value of $275,971.75.
• On Wednesday, August 27th, Mutual Insurance Co Donegal purchased 15,509 shares of Donegal Group stock. The shares were purchased at an average cost of $17.49 per share, for a total transaction of $271,252.41.

Donegal Group Stock Performance

NASDAQ DGICA traded up $0.31 on Tuesday, reaching $18.20. The stock had a trading volume of 99,886 shares, compared to its average volume of 128,901. The stock has a market cap of $664.30 million and a P/E ratio of 7.64. Donegal Group, Inc. has a 12-month low of $14.06 and a 12-month high of $21.12. The business's 50-day moving average price is $18.06 and its 200 day moving average price is $18.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40.

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. As a group, equities analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $0.1825 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.73 dividend on an annualized basis and a dividend yield of 4.0%. Donegal Group's dividend payout ratio (DPR) is currently 30.67%.

Analyst Upgrades and Downgrades

Several analysts have commented on DGICA shares. Wall Street Zen downgraded Donegal Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Janney Montgomery Scott raised Donegal Group from a "neutral" rating to a "buy" rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Donegal Group by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,804,968 shares of the insurance provider's stock valued at $27,923,000 after acquiring an additional 27,213 shares during the period. Vanguard Group Inc. grew its holdings 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 worth $18,578,000 after acquiring an additional 19,174 shares during the period. Geode Capital Management LLC increased its stake in 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 holdings in Donegal Group by 33.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider's stock worth $7,132,000 after purchasing an additional 88,462 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in Donegal Group during the second quarter worth $6,343,000. 27.96% of the stock is currently owned by institutional investors and hedge funds.

About Donegal Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.