Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases 54,725 Shares

Key Points

• Major shareholder Mutual Insurance Co Donegal purchased 54,725 Donegal Group shares at an average $19.23 each, increasing its stake by 0.38% to 14.39 million shares. The purchase was part of a series of recent acquisitions disclosed to the SEC.
• Donegal Group shares recently traded at $19.38, with a $1.28 billion market capitalization and a 4.0% dividend yield. The company’s latest quarterly earnings of $0.53 per share exceeded analysts’ $0.42 consensus estimate.
• Analysts maintain a generally neutral outlook, with a consensus “Hold” rating and a $20 price target; institutional investors own approximately 28% of the company.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 54,725 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The shares were bought at an average price of $19.23 per share, with a total value of $1,052,361.75. Following the acquisition, the insider directly owned 14,387,128 shares of the company's stock, valued at $276,664,471.44. This represents a 0.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more 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 Wednesday, September 9th, Mutual Insurance Co Donegal bought 13,469 shares of Donegal Group stock. The stock was purchased at an average price of $19.13 per share, with a total value of $257,661.97.
• On Thursday, September 10th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.13 per share, with a total value of $191,300.00.
• On Tuesday, September 8th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.14 per share, for a total transaction of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal acquired 6,368 shares of Donegal Group stock. The stock was purchased 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 stock was purchased 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 bought 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $19.43 per share, for a total transaction of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal bought 9,257 shares of Donegal Group stock. The stock was acquired at an average cost of $19.17 per share, with a total value of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $19.18 per share, for a total transaction of $191,800.00.
• On Thursday, August 27th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $18.95 per share, for a total transaction of $189,500.00.
• On Wednesday, August 26th, Mutual Insurance Co Donegal acquired 9,508 shares of Donegal Group stock. The stock was acquired at an average price of $19.11 per share, with a total value of $181,697.88.

Donegal Group Stock Performance

Shares of Donegal Group stock traded up $0.02 during trading hours on Monday, hitting $19.38. 27,742 shares of the company's stock traded hands, compared to its average volume of 125,350. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 10.04 and a beta of -0.01. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The company has a fifty day simple moving average of $19.00 and a 200-day simple moving average of $17.97.

Donegal Group (NASDAQ:DGICA - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.11. The company 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%. Equities research analysts anticipate that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group's dividend payout ratio is 39.90%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DGICA. Dimensional Fund Advisors LP increased its position in shares of Donegal Group by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider's stock valued at $29,846,000 after buying an additional 7,345 shares during the period. Vanguard Group Inc. increased its holdings in Donegal Group by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider's stock worth $19,549,000 after acquiring an additional 39,181 shares during the period. Geode Capital Management LLC increased its holdings in Donegal Group by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 534,703 shares of the insurance provider's stock worth $10,685,000 after acquiring an additional 11,891 shares during the period. Renaissance Technologies LLC lifted its stake in Donegal Group by 5.8% in the 1st quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider's stock worth $6,747,000 after purchasing an additional 21,500 shares in the last quarter. Finally, State Street Corp lifted its stake in Donegal Group by 0.8% in the 4th quarter. State Street Corp now owns 391,729 shares of the insurance provider's stock worth $7,827,000 after purchasing an additional 3,290 shares in the last quarter. Institutional investors own 27.96% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted 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. Weiss Ratings raised shares of Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Donegal Group has a consensus rating of "Hold" and a consensus target price of $20.00.

About Donegal Group

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of independent insurance agents. The company operates through regional insurance subsidiaries affiliated with Donegal Mutual Insurance Company and serves individuals, families, farms, and businesses.

Its personal insurance products generally include automobile, homeowners, dwelling fire, renters, and farmowners coverage. Donegal Group also offers commercial insurance, including businessowners policies, commercial automobile, commercial package, workers' compensation, general liability, and related coverages.

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