Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 10,000 Shares of Stock

Key Points

• Mutual Insurance Co Donegal purchased 10,000 DGICA shares at an average price of $19.43, worth $194,300, increasing its direct ownership to 14.28 million shares. The transaction follows multiple additional purchases in recent weeks.
• Donegal Group reported quarterly EPS of $0.53, beating estimates of $0.42, while revenue of $241.12 million also exceeded expectations. Analysts currently have a consensus “Hold” rating with an average price target of $20.
• The company pays a quarterly dividend of $0.1925 per share, equivalent to $0.77 annually and a 4.0% yield; its shares recently traded near $19.42.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 10,000 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were acquired at an average price of $19.43 per share, with a total value of $194,300.00. Following the transaction, the insider directly owned 14,282,971 shares of the company's stock, valued at approximately $277,518,126.53. This trade represents a 0.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Thursday, September 3rd, Mutual Insurance Co Donegal purchased 9,595 shares of Donegal Group stock. The stock was acquired at an average cost of $19.53 per share, for a total transaction of $187,390.35.
• On Tuesday, September 1st, Mutual Insurance Co Donegal acquired 9,257 shares of Donegal Group stock. The shares were bought at an average cost of $19.17 per share, for a total transaction of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was bought at an average price of $19.18 per share, with a total value of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $18.95 per share, with a total value of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal purchased 9,508 shares of Donegal Group stock. The shares were bought at an average price of $19.11 per share, for a total transaction of $181,697.88.
• On Monday, August 24th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was purchased at an average cost of $19.06 per share, for a total transaction of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $18.68 per share, with a total value of $186,800.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal acquired 9,815 shares of Donegal Group stock. The stock was purchased at an average price of $18.66 per share, with a total value of $183,147.90.
• On Wednesday, August 19th, Mutual Insurance Co Donegal acquired 9,700 shares of Donegal Group stock. The shares were purchased at an average cost of $18.61 per share, with a total value of $180,517.00.
• On Monday, August 17th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $18.52 per share, for a total transaction of $185,200.00.

Donegal Group Stock Performance

NASDAQ DGICA opened at $19.42 on Friday. The company's 50 day simple moving average is $18.97 and its two-hundred day simple moving average is $17.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. Donegal Group, Inc. has a 1 year low of $16.11 and a 1 year high of $21.06. The stock has a market capitalization of $720.87 million, a PE ratio of 10.06 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.11. The firm had revenue of $241.12 million during the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. Analysts predict that Donegal Group, Inc. will post 1.75 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 14th. Investors of record on Friday, July 31st were given a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, July 31st. Donegal Group's payout ratio is presently 39.90%.

Analyst Ratings Changes

Several analysts have weighed in on DGICA shares. Weiss Ratings raised Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 28th. Keefe, Bruyette & Woods boosted their price objective on Donegal Group from $18.00 to $20.00 and gave the stock a "market perform" rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $20.00.

Institutional Trading of Donegal Group

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC increased its stake in Donegal Group by 139.8% in the first quarter. AQR Capital Management LLC now owns 39,413 shares of the insurance provider's stock valued at $774,000 after acquiring an additional 22,978 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Donegal Group by 7.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 109,791 shares of the insurance provider's stock worth $2,155,000 after purchasing an additional 8,004 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Donegal Group by 1.9% in the 1st quarter. Empowered Funds LLC now owns 91,814 shares of the insurance provider's stock worth $1,802,000 after purchasing an additional 1,696 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Donegal Group in the 1st quarter worth about $689,000. Finally, Rhumbline Advisers increased its position in shares of Donegal Group by 22.3% during the 2nd quarter. Rhumbline Advisers now owns 32,824 shares of the insurance provider's stock valued at $657,000 after purchasing an additional 5,981 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

About Donegal Group

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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