Mutual Insurance Co Donegal Acquires 6,368 Shares of Donegal Group (NASDAQ:DGICA) Stock

Key Points

• Mutual Insurance Co Donegal continued buying Donegal Group shares, acquiring 6,368 shares at an average of $19.39 for $123,475.52. The purchase increased its direct ownership to 14.3 million shares, and the company reported several additional purchases in recent weeks.
• Donegal Group’s latest quarterly results exceeded expectations, with earnings of $0.53 per share versus the $0.42 consensus estimate and revenue of $241.12 million. Analysts maintain a consensus “Hold” rating with an average price target of $20.
• The stock recently traded at $18.83, while Donegal Group maintains a 4.1% dividend yield through its $0.1925 quarterly dividend. Institutional investors own approximately 27.96% of the company.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 6,368 shares of Donegal Group stock in a transaction dated Friday, September 4th. The stock was purchased at an average cost of $19.39 per share, with a total value of $123,475.52. Following the completion of the acquisition, the insider directly owned 14,298,934 shares in the company, valued at approximately $277,256,330.26. The trade was a 0.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 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 Tuesday, September 8th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average price of $19.14 per share, for a total transaction of $191,400.00.
• 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 acquired 10,000 shares of Donegal Group stock. The stock was purchased at an average cost of $19.43 per share, with a total value of $194,300.00.
• On Tuesday, September 1st, Mutual Insurance Co Donegal bought 9,257 shares of Donegal Group stock. The shares were acquired at an average price of $19.17 per share, for a total transaction of $177,456.69.
• On Monday, August 31st, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was acquired 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 purchased 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $18.95 per share, with a total value 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, 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 shares were bought 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 purchased 10,000 shares of Donegal Group stock. The stock was bought at an average price of $18.68 per share, for a total transaction of $186,800.00.
• On Thursday, August 20th, Mutual Insurance Co Donegal bought 9,815 shares of Donegal Group stock. The stock was bought at an average price of $18.66 per share, for a total transaction of $183,147.90.

Donegal Group Stock Performance

Shares of NASDAQ:DGICA traded down $0.17 during trading on Wednesday, reaching $18.83. The company had a trading volume of 37,104 shares, compared to its average volume of 125,767. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week 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 stock's fifty day moving average price is $19.00 and its 200 day moving average price is $17.93. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 9.75 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.11. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The firm had revenue of $241.12 million during the quarter, compared to the consensus estimate of $231.53 million. As a group, equities research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current year.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.1925 dividend. This represents a $0.77 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, July 31st. Donegal Group's dividend payout ratio (DPR) is 39.90%.

Institutional Investors Weigh In On Donegal Group

Institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in Donegal Group by 576.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider's stock valued at $55,000 after purchasing an additional 2,341 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Donegal Group by 422.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider's stock worth $74,000 after purchasing an additional 2,975 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Donegal Group by 31.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider's stock worth $75,000 after purchasing an additional 896 shares in the last quarter. IFP Advisors Inc raised its position in Donegal Group by 1,377.6% during the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider's stock worth $75,000 after acquiring an additional 3,513 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Donegal Group by 443.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider's stock valued at $99,000 after buying an additional 4,022 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company's stock.

Analyst Upgrades and Downgrades

DGICA has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of 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 upgraded Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, August 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Donegal Group presently has a consensus rating of "Hold" and an average target price of $20.00.

Donegal Group Company Profile

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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