Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $480,930.00 in Stock

Key Points

• Mutual Insurance Co Donegal bought 25,500 Donegal Group shares at an average $18.86 each, spending $480,930 and increasing its position by 0.18% to 14.43 million shares.
• The insurer’s latest quarter beat expectations, reporting EPS of $0.50 versus the $0.44 consensus and revenue of $237.66 million versus $214.12 million expected.
• Donegal declared a quarterly dividend of $0.1925 per share, equivalent to $0.77 annually and a 4.1% yield; analysts’ consensus rating is Hold, with a $20 price target.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 25,500 shares of the business's stock in a transaction dated Thursday, November 5th. The shares were acquired at an average price of $18.86 per share, for a total transaction of $480,930.00. Following the acquisition, the insider owned 14,427,628 shares of the company's stock, valued at $272,105,064.08. This trade represents a 0.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible 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 Friday, November 6th, Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock. The stock was bought at an average price of $18.74 per share, with a total value of $140,550.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal bought 7,500 shares of Donegal Group stock. The shares were bought at an average cost of $18.69 per share, with a total value of $140,175.00.
• On Friday, September 11th, Mutual Insurance Co Donegal bought 54,725 shares of Donegal Group stock. The shares were bought at an average cost of $19.23 per share, with a total value of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal bought 13,469 shares of Donegal Group stock. The shares were bought at an average cost of $19.13 per share, for a total transaction of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was bought at an average price of $19.13 per share, for a total transaction of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was bought at an average price of $19.14 per share, for a total transaction of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal purchased 6,368 shares of Donegal Group stock. The stock was bought at an average cost of $19.39 per share, with a total value of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal acquired 9,595 shares of Donegal Group stock. The shares were bought at an average price of $19.53 per share, with a total value of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average price of $19.43 per share, with a total value of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal acquired 9,257 shares of Donegal Group stock. The stock was bought at an average cost of $19.17 per share, for a total transaction of $177,456.69.

Donegal Group Stock Performance

Shares of DGICA stock opened at $18.73 on Monday. The business's 50 day simple moving average is $18.70 and its 200 day simple moving average is $18.14. Donegal Group, Inc. has a one year low of $16.11 and a one year high of $21.06. The stock has a market capitalization of $695.26 million, a PE ratio of 10.02 and a beta of -0.03. 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 (NASDAQ:DGICA - Get Free Report) last released its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.06. Donegal Group had a net margin of 7.24% and a return on equity of 10.49%. The business had revenue of $237.66 million during the quarter, compared to the consensus estimate of $214.12 million. As a group, research analysts forecast that Donegal Group, Inc. will post 1.75 earnings per share for the current year.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, November 2nd. Donegal Group's dividend payout ratio is currently 41.18%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, August 28th. Zacks Research raised shares of Donegal Group from a "strong sell" rating to a "hold" rating in a research report on Friday, October 16th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Donegal Group presently has a consensus rating of "Hold" and a consensus price target of $20.00.

Institutional Investors Weigh In On Donegal Group

A number of hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its position in shares of Donegal Group by 6.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 21,290 shares of the insurance provider's stock valued at $379,000 after acquiring an additional 1,336 shares during the period. IFP Advisors Inc boosted its stake in Donegal Group by 27.8% during the second quarter. IFP Advisors Inc now owns 9,214 shares of the insurance provider's stock worth $174,000 after acquiring an additional 2,004 shares in the last quarter. Bank of America Corp DE boosted its stake in Donegal Group by 3.1% during the first quarter. Bank of America Corp DE now owns 73,820 shares of the insurance provider's stock worth $1,268,000 after acquiring an additional 2,243 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Donegal Group by 3.5% during the third quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider's stock worth $1,710,000 after acquiring an additional 3,264 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Donegal Group by 214.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,889 shares of the insurance provider's stock worth $105,000 after purchasing an additional 4,016 shares during the period. 27.96% of the stock is currently owned by institutional investors.

Donegal Group Company Profile

Donegal Group Inc NASDAQ: DGICA is an insurance holding company that, through its insurance subsidiaries, provides property and casualty insurance products to individuals and businesses. The company operates under the strategic direction of Donegal Mutual Insurance Company, which owns a controlling interest in Donegal Group.

Its personal insurance offerings include automobile, homeowners, dwelling fire, farmowners and related coverage. Donegal Group also provides commercial insurance products, including businessowners, commercial automobile, commercial property and workers' compensation coverage, along with other specialized property and casualty policies.

Founded in 1986 and headquartered in Marietta, Pennsylvania, Donegal Group serves policyholders through independent agents across a broad group of states, primarily in the Mid-Atlantic, Southern and Midwestern regions of the United States.

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