Donegal Group (NASDAQ:DGICA) Stock: Insider Mutual Insurance Co Donegal Acquires 7,500 Shares

Key Points

• Mutual Insurance Co Donegal purchased 7,500 DGICA shares at an average price of $18.81, spending $141,075. It then held about 14.44 million shares, worth approximately $271.7 million.
• Donegal Group reported quarterly earnings of $0.50 per share, beating the $0.44 analyst estimate, while revenue of $237.66 million also exceeded forecasts.
• The company announced a quarterly dividend of $0.1925 per share, equivalent to $0.77 annually and a 4.1% yield. Analysts’ consensus rating was Hold, with a $20 price target.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 7,500 shares of Donegal Group stock in a transaction dated Monday, November 9th. The shares were bought at an average cost of $18.81 per share, with a total value of $141,075.00. Following the transaction, the insider owned 14,442,628 shares in the company, valued at approximately $271,665,832.68. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Wednesday, November 11th, Mutual Insurance Co Donegal bought 7,500 shares of Donegal Group stock. The shares were bought at an average price of $18.88 per share, for a total transaction of $141,600.00.
• On Friday, November 6th, Mutual Insurance Co Donegal bought 7,500 shares of Donegal Group stock. The shares were bought at an average cost of $18.74 per share, for a total transaction of $140,550.00.
• On Thursday, November 5th, Mutual Insurance Co Donegal purchased 25,500 shares of Donegal Group stock. The stock was bought at an average price of $18.86 per share, with a total value of $480,930.00.
• On Tuesday, November 3rd, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The stock was 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 acquired 54,725 shares of Donegal Group stock. The shares were bought at an average price of $19.23 per share, for a total transaction of $1,052,361.75.
• On Wednesday, September 9th, Mutual Insurance Co Donegal acquired 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 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 bought 10,000 shares of Donegal Group stock. The stock was purchased at an average cost of $19.14 per share, with a total value of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal purchased 6,368 shares of Donegal Group stock. The shares were purchased at an average cost of $19.39 per share, for a total transaction 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 cost of $19.53 per share, with a total value of $187,390.35.

Donegal Group Trading Down 0.1%

NASDAQ DGICA opened at $18.95 on Thursday. The company has a market cap of $703.42 million, a price-to-earnings ratio of 10.13 and a beta of -0.03. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The business has a 50 day moving average price of $18.68 and a 200-day moving average price of $18.15. The company has a quick ratio of 0.39, a current ratio of 0.40 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.06. Donegal Group had a return on equity of 10.45% and a net margin of 7.24%. The company had revenue of $237.66 million for the quarter, compared to analyst estimates of $214.12 million. As a group, equities analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued 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 is Monday, November 2nd. Donegal Group's dividend payout ratio is currently 41.18%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DGICA. Dimensional Fund Advisors LP grew its holdings in shares of Donegal Group by 0.4% in 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 acquiring an additional 7,345 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Donegal Group by 5.8% during the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider's stock worth $6,747,000 after acquiring an additional 21,500 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Donegal Group by 41.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider's stock worth $4,746,000 after acquiring an additional 80,614 shares during the period. Bank of New York Mellon Corp boosted its position in Donegal Group by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider's stock worth $2,862,000 after purchasing an additional 9,075 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in Donegal Group by 3.5% in the third quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider's stock worth $1,710,000 after purchasing an additional 3,264 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Donegal Group Company Profile

Donegal Group Inc. is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers' compensation and package policies. The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.

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