Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Acquires 20,000 Shares of Stock

Key Points

• Mutual Insurance Co Donegal, a major shareholder, purchased 20,000 shares of Donegal Group at an average price of $19.53, totaling around $390,600, which increased their ownership stake by 0.15%.
• Donegal Group's stock is currently down by 1.4%, trading at $19.21, with a market cap of approximately $701.25 million and a P/E ratio of 8.07.
• The company recently declared a quarterly dividend of $0.1825 per share, resulting in an annualized dividend yield of 3.8%.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 20,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were purchased at an average price of $19.53 per share, with a total value of $390,600.00. Following the acquisition, the insider owned 13,654,579 shares of the company's stock, valued at approximately $266,673,927.87. This trade represents a 0.15% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large 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 Thursday, September 11th, Mutual Insurance Co Donegal acquired 16,573 shares of Donegal Group stock. The shares were purchased at an average price of $19.45 per share, with a total value of $322,344.85.
• On Wednesday, September 10th, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The shares were purchased at an average price of $18.99 per share, with a total value of $379,800.00.
• On Tuesday, September 9th, Mutual Insurance Co Donegal acquired 19,352 shares of Donegal Group stock. The shares were purchased at an average price 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 bought at an average price of $19.10 per share, with a total value of $363,377.50.
• 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, with a total value 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, with a total value 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, with a total value 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 purchased 15,815 shares of Donegal Group stock. The stock was bought at an average price of $17.45 per share, with a total value of $275,971.75.

Donegal Group Stock Down 1.4%

Shares of Donegal Group stock traded down $0.27 on Monday, hitting $19.21. The company had a trading volume of 89,791 shares, compared to its average volume of 131,699. The firm has a market capitalization of $701.25 million and a P/E ratio of 8.07. Donegal Group, Inc. has a twelve month low of $14.06 and a twelve month high of $21.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50-day moving average of $17.98 and a 200-day moving average of $18.70.

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

Donegal Group Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Donegal Group

A number of hedge funds have recently bought and sold shares of DGICA. Allworth Financial LP boosted its holdings in Donegal Group by 477.2% during the 2nd quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider's stock worth $59,000 after acquiring an additional 2,448 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider's stock worth $74,000 after purchasing an additional 2,975 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Donegal Group by 443.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider's stock worth $99,000 after purchasing an additional 4,022 shares during the period. CWM LLC raised its stake in shares of Donegal Group by 78.0% during the 1st quarter. CWM LLC now owns 5,163 shares of the insurance provider's stock worth $101,000 after purchasing an additional 2,263 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Donegal Group during the 2nd quarter worth $101,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.

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