Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 9,900 Shares

Key Points

• Major shareholder Mutual Insurance Co Donegal bought 9,900 shares of Donegal Group at $17.56 each, adding about $173,844 and lifting its stake to 14.13 million shares.
• The company has been making a series of insider purchases recently, including several additional buys in early and mid-June, suggesting continued accumulation by the major shareholder.
• Donegal Group recently raised its quarterly dividend to $0.1925 per share, while its latest earnings missed expectations; analysts currently rate the stock a consensus Hold with a $18 target price.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 9,900 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $17.56 per share, for a total transaction of $173,844.00. Following the completion of the acquisition, the insider owned 14,127,009 shares of the company's stock, valued at $248,070,278.04. The trade was a 0.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% 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, June 12th, Mutual Insurance Co Donegal acquired 9,682 shares of Donegal Group stock. The stock was purchased at an average price of $17.62 per share, with a total value of $170,596.84.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $16.62 per share, for a total transaction of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $16.76 per share, for a total transaction of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $16.98 per share, with a total value of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were acquired at an average cost of $17.33 per share, with a total value of $147,305.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.40 per share, for a total transaction of $147,900.00.
• On Wednesday, May 20th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $17.43 per share, with a total value of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group stock. The shares were acquired at an average cost of $17.48 per share, with a total value of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.16 per share, for a total transaction of $145,860.00.

Donegal Group Price Performance

DGICA opened at $17.61 on Monday. The firm has a market cap of $652.45 million, a P/E ratio of 9.84 and a beta of 0.01. The firm has a 50-day moving average of $17.26 and a 200 day moving average of $18.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06.

Donegal Group (NASDAQ:DGICA - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.08). The company had revenue of $236.00 million for the quarter, compared to analysts' expectations of $247.83 million. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%. On average, research analysts expect that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.1925 dividend. This is a boost from Donegal Group's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.4%. Donegal Group's payout ratio is presently 43.02%.

Institutional Trading of Donegal Group

Institutional investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its stake in Donegal Group by 31.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider's stock valued at $75,000 after buying an additional 896 shares in the last quarter. Strs Ohio boosted its holdings in shares of Donegal Group by 3.7% in the fourth quarter. Strs Ohio now owns 28,300 shares of the insurance provider's stock worth $565,000 after acquiring an additional 1,000 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Donegal Group by 8.9% in the third quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider's stock worth $237,000 after acquiring an additional 1,000 shares during the period. Qube Research & Technologies Ltd grew its position in shares of Donegal Group by 1.0% in the third quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider's stock valued at $2,576,000 after purchasing an additional 1,274 shares in the last quarter. Finally, Mariner LLC raised its stake in shares of Donegal Group by 9.9% during the 4th quarter. Mariner LLC now owns 14,874 shares of the insurance provider's stock valued at $297,000 after purchasing an additional 1,342 shares during the period. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DGICA has been the subject of several research reports. Weiss Ratings lowered Donegal Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, May 11th. Keefe, Bruyette & Woods lowered their target price on Donegal Group from $19.00 to $18.00 and set a "market perform" rating on the stock in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $18.00.

Donegal Group Company Profile

Donegal Group, Inc NASDAQ: DGICA is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company's origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.

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