Insider Buying: Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases 19,352 Shares of Stock

Key Points

• Mutual Insurance Co Donegal, a major shareholder of Donegal Group, purchased 19,352 shares at an average price of $19.24 per share, totaling approximately $372,332 in the transaction.
• Donegal Group has recently announced a quarterly dividend of $0.1825 per share, which reflects an annualized yield of 3.8% and a payout ratio of 30.67%.
• The company's stock has seen a recent 1.4% decline in trading, with shares currently priced at $19.01, while it has a market capitalization of $694.04 million.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 19,352 shares of the stock in a transaction on Tuesday, September 9th. The stock was bought at an average price of $19.24 per share, for a total transaction of $372,332.48. Following the transaction, the insider owned 13,598,006 shares in the company, valued at approximately $261,625,635.44. This represents a 0.14% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 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 Monday, September 8th, Mutual Insurance Co Donegal acquired 19,025 shares of Donegal Group stock. The stock was bought 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 bought 19,212 shares of Donegal Group stock. The shares were 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 bought 20,000 shares of Donegal Group stock. The shares were 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 acquired 19,440 shares of Donegal Group stock. The stock was purchased at an average cost of $18.27 per share, with a total value of $355,168.80.
• On Friday, August 29th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The stock was bought at an average cost 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 shares were bought 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 purchased 15,815 shares of Donegal Group stock. The shares were bought at an average price of $17.45 per share, for a total transaction of $275,971.75.
• On Wednesday, August 27th, Mutual Insurance Co Donegal acquired 15,509 shares of Donegal Group stock. The shares were acquired at an average cost of $17.49 per share, with a total value of $271,252.41.

Donegal Group Trading Down 1.4%

NASDAQ DGICA traded down $0.27 during trading on Wednesday, hitting $19.01. The stock had a trading volume of 54,776 shares, compared to its average volume of 131,443. The company has a market capitalization of $694.04 million and a PE ratio of 7.99. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average price of $17.97 and a 200 day moving average price of $18.63. Donegal Group, Inc. has a twelve month low of $14.06 and a twelve month high of $21.12.

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 business had revenue of $233.81 million during 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, equities research analysts forecast that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Announces Dividend

The business also recently announced 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 of this dividend was Friday, August 1st. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.8%. Donegal Group's payout ratio is presently 30.67%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DGICA shares. 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 report on Saturday, August 9th. Finally, Zacks Research raised Donegal Group from a "hold" rating to a "strong-buy" rating in a report 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 assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $18.00.

Institutional Trading of Donegal Group

A number of hedge funds have recently added to or reduced their stakes in DGICA. Allworth Financial LP boosted its stake in Donegal Group by 477.2% in the 2nd quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider's stock worth $59,000 after buying an additional 2,448 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Donegal Group by 422.6% in 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 holdings 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 valued at $99,000 after buying an additional 4,022 shares during the period. CWM LLC raised its holdings 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 valued at $101,000 after buying an additional 2,263 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Donegal Group during the 2nd quarter valued at about $101,000. 27.96% of the stock is owned by institutional investors and hedge funds.

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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