Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 20,000 Shares

Key Points

• Mutual Insurance Co Donegal, a major shareholder of Donegal Group, purchased a total of 20,000 shares at an average cost of $18.99 each, totaling approximately $379,800.
• Donegal Group's stock recently traded down 0.7%, reaching $19.59, with a market capitalization of $715.05 million and a P/E ratio of 8.23.
• Analysts have varied assessments of Donegal Group, with one upgrading it from "neutral" to "buy" and another downgrading it from "buy" to "hold", resulting in an average rating of "buy" for the stock.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 20,000 shares of the business's stock in a transaction on Wednesday, September 10th. The stock was bought at an average price of $18.99 per share, for a total transaction of $379,800.00. Following the purchase, the insider directly owned 13,618,006 shares of the company's stock, valued at $258,605,933.94. The trade was a 0.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Friday, September 12th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The stock was bought at an average price of $19.53 per share, for a total transaction of $390,600.00.
• On Thursday, September 11th, Mutual Insurance Co Donegal bought 16,573 shares of Donegal Group stock. The stock was bought at an average price of $19.45 per share, for a total transaction of $322,344.85.
• On Tuesday, September 9th, Mutual Insurance Co Donegal bought 19,352 shares of Donegal Group stock. The stock was bought at an average price of $19.24 per share, for a total transaction of $372,332.48.
• On Monday, September 8th, Mutual Insurance Co Donegal bought 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 stock was bought 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 purchased 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 purchased 19,440 shares of Donegal Group stock. The shares were acquired at an average price of $18.27 per share, for a total transaction of $355,168.80.
• On Friday, August 29th, Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock. The shares were purchased 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 bought 8,032 shares of Donegal Group stock. The shares were purchased at an average cost 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 purchased at an average cost of $17.45 per share, with a total value of $275,971.75.

Donegal Group Stock Performance

Shares of Donegal Group stock traded up $0.39 on Wednesday, reaching $19.43. 28,812 shares of the stock were exchanged, compared to its average volume of 131,734. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.06. Donegal Group, Inc. has a twelve month low of $14.06 and a twelve month high of $21.12. The firm has a market capitalization of $709.39 million and a price-to-earnings ratio of 8.13. The business has a 50 day moving average price of $17.99 and a two-hundred day moving average price of $18.71.

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

Donegal Group Announces Dividend

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

Hedge Funds Weigh In On Donegal Group

A number of hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. acquired a new position in Donegal Group during the 4th quarter worth about $356,000. BNP Paribas Financial Markets lifted its stake in Donegal Group by 117.2% during the 4th quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider's stock worth $130,000 after acquiring an additional 4,544 shares in the last quarter. Bank of America Corp DE lifted its stake in Donegal Group by 3.0% during the 4th quarter. Bank of America Corp DE now owns 29,572 shares of the insurance provider's stock worth $457,000 after acquiring an additional 871 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Donegal Group during the 4th quarter worth about $588,000. Finally, D. E. Shaw & Co. Inc. acquired a new position in Donegal Group during the 4th quarter worth about $704,000. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DGICA has been the subject of several research analyst reports. Janney Montgomery Scott raised Donegal Group from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 2nd. Wall Street Zen downgraded Donegal Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Zacks Research raised Donegal Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. One 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $18.00.

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.