Mutual Insurance Co Donegal Acquires 20,000 Shares of Donegal Group (NASDAQ:DGICA) Stock

Key Points

• Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock at an average price of $18.37, increasing their ownership stake by 0.15% to a total of 13,540,417 shares valued at approximately $248.74 million.
• Donegal Group's shares saw a 2.3% increase and currently trade at $18.81, showing a 52-week range of $14.06 to $21.12.
• The company recently declared a quarterly dividend of $0.1825 per share, representing a 3.9% yield and a payout ratio of 30.67%.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 20,000 shares of Donegal Group stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average cost of $18.37 per share, for a total transaction of $367,400.00. Following the completion of the transaction, the insider directly owned 13,540,417 shares in the company, valued at $248,737,460.29. This represents a 0.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company's stock 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 2nd, Mutual Insurance Co Donegal acquired 19,440 shares of Donegal Group stock. The shares were bought at an average price of $18.27 per share, for a total transaction of $355,168.80.
• On Friday, August 29th, Mutual Insurance Co Donegal acquired 20,000 shares of Donegal Group stock. The shares were bought at an average price of $17.84 per share, with a total value of $356,800.00.
• On Thursday, August 28th, Mutual Insurance Co Donegal bought 8,032 shares of Donegal Group stock. The stock was purchased at an average cost of $17.61 per share, for a total transaction of $141,443.52.
• On Tuesday, August 26th, Mutual Insurance Co Donegal bought 15,815 shares of Donegal Group stock. The stock was purchased at an average price of $17.45 per share, with a total value of $275,971.75.
• On Wednesday, August 27th, Mutual Insurance Co Donegal purchased 15,509 shares of Donegal Group stock. The shares were purchased at an average price of $17.49 per share, for a total transaction of $271,252.41.

Donegal Group Stock Up 2.3%

Shares of DGICA stock opened at $18.81 on Thursday. Donegal Group, Inc. has a fifty-two week low of $14.06 and a fifty-two week high of $21.12. The firm has a market capitalization of $686.75 million and a PE ratio of 7.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. The stock's 50-day simple moving average is $18.01 and its 200-day simple moving average is $18.50.

Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its earnings results on Thursday, July 24th. The insurance provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.07. Donegal Group had a return on equity of 14.33% and a net margin of 8.33%.The firm had revenue of $233.81 million for the quarter, compared to analyst estimates of $247.21 million. Equities analysts expect that Donegal Group, Inc. will post 1.2 earnings per share for the current year.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $0.1825 dividend. This represents a $0.73 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, August 1st. Donegal Group's dividend payout ratio is presently 30.67%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DGICA. Allworth Financial LP grew its stake in shares of Donegal Group by 477.2% in the second quarter. Allworth Financial LP now owns 2,961 shares of the insurance provider's stock valued at $59,000 after buying an additional 2,448 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 valued at $74,000 after acquiring an additional 2,975 shares during the period. Tower Research Capital LLC TRC grew its position 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 acquiring an additional 4,022 shares in the last quarter. CWM LLC boosted its stake in shares of Donegal Group by 78.0% in the first quarter. CWM LLC now owns 5,163 shares of the insurance provider's stock valued at $101,000 after purchasing an additional 2,263 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Donegal Group in the second quarter valued at approximately $101,000. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Donegal Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Janney Montgomery Scott upgraded Donegal Group from a "neutral" rating to a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Donegal Group Company Profile

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.

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