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

Key Points

• Mutual Insurance Co Donegal bought 10,000 Donegal Group shares at an average of $19.13 each, spending $191,300. The purchase increased its holdings to 14.33 million shares, valued at approximately $274.2 million.
• The transaction is part of a series of purchases in recent weeks, with Mutual Insurance Co Donegal acquiring roughly 95,000 additional shares since August 21.
• Donegal Group reported quarterly EPS of $0.53, beating estimates of $0.42, while revenue exceeded forecasts. The company pays a quarterly dividend of $0.1925 per share, equivalent to a 4.0% annualized yield.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 10,000 shares of the stock in a transaction on Thursday, September 10th. The shares were bought at an average price of $19.13 per share, for a total transaction of $191,300.00. Following the acquisition, the insider owned 14,332,403 shares of the company's stock, valued at approximately $274,178,869.39. The trade was a 0.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 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 Tuesday, September 8th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.14 per share, with a total value of $191,400.00.
• On Friday, September 4th, Mutual Insurance Co Donegal bought 6,368 shares of Donegal Group stock. The stock was purchased at an average price of $19.39 per share, for a total transaction of $123,475.52.
• On Thursday, September 3rd, Mutual Insurance Co Donegal bought 9,595 shares of Donegal Group stock. The shares were purchased at an average cost of $19.53 per share, with a total value of $187,390.35.
• On Wednesday, September 2nd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased 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 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 bought 10,000 shares of Donegal Group stock. The shares were 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 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 bought at an average cost of $19.06 per share, with a total value of $190,600.00.
• On Friday, August 21st, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was bought at an average price of $18.68 per share, with a total value of $186,800.00.

Donegal Group Price Performance

Shares of DGICA stock opened at $19.26 on Friday. The company has a market capitalization of $714.93 million, a P/E ratio of 9.98 and a beta of -0.01. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The stock has a 50 day moving average of $19.00 and a two-hundred day moving average of $17.95.

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

Donegal Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors 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 (DPR) is currently 39.90%.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DGICA shares. Keefe, Bruyette & Woods lifted their price objective on Donegal Group from $18.00 to $20.00 and gave the company a "market perform" rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average 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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