Mutual Insurance Co Donegal Buys 9,700 Shares of Donegal Group (NASDAQ:DGICA) Stock

Key Points

• Mutual Insurance Co Donegal purchased 9,700 Donegal Group shares at an average price of $18.61, bringing its holdings to 14.18 million shares valued at approximately $264 million. The transaction continues a series of insider purchases in recent months.
• Donegal Group reported quarterly earnings of $0.53 per share, exceeding analyst estimates of $0.42, while revenue of $241.12 million also topped expectations.
• The company pays a quarterly dividend of $0.1925, or $0.77 annually, representing a 4.1% yield. Analysts give the stock a “Moderate Buy” consensus rating with a $20 price target.

Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 9,700 shares of Donegal Group stock in a transaction dated Wednesday, August 19th. The shares were bought at an average cost of $18.61 per share, for a total transaction of $180,517.00. Following the completion of the acquisition, the insider owned 14,184,391 shares in the company, valued at $263,971,516.51. This represents a 0.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 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 Thursday, August 20th, Mutual Insurance Co Donegal purchased 9,815 shares of Donegal Group stock. The stock was bought at an average cost of $18.66 per share, with a total value of $183,147.90.
• On Monday, August 17th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average price of $18.52 per share, for a total transaction of $185,200.00.
• On Thursday, August 6th, Mutual Insurance Co Donegal bought 18,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.67 per share, with a total value of $354,060.00.
• On Friday, June 12th, Mutual Insurance Co Donegal purchased 9,682 shares of Donegal Group stock. The shares were purchased at an average price of $17.62 per share, for a total transaction of $170,596.84.
• On Thursday, June 11th, Mutual Insurance Co Donegal acquired 9,900 shares of Donegal Group stock. The stock was purchased at an average cost of $17.56 per share, for a total transaction of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $16.62 per share, with a total value of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $16.76 per share, for a total transaction of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $16.98 per share, for a total transaction of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $17.33 per share, with a total value of $147,305.00.

Donegal Group Price Performance

NASDAQ:DGICA traded up $0.08 during trading hours on Friday, hitting $18.75. The company's stock had a trading volume of 14,152 shares, compared to its average volume of 125,380. Donegal Group, Inc. has a twelve month low of $16.11 and a twelve 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 stock has a fifty day simple moving average of $18.68 and a 200-day simple moving average of $17.89. The company has a market capitalization of $1.24 billion, a P/E ratio of 9.72 and a beta of -0.01.

Donegal Group (NASDAQ:DGICA - Get Free Report) last posted its earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $231.53 million. On average, analysts anticipate that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Announces Dividend

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

Institutional Trading of Donegal Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royce & Associates LP lifted its position in shares of Donegal Group by 579.4% in the 4th quarter. Royce & Associates LP now owns 169,853 shares of the insurance provider's stock worth $3,394,000 after purchasing an additional 144,853 shares during the period. Goldman Sachs Group Inc. raised its stake in Donegal Group by 117.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 236,124 shares of the insurance provider's stock worth $4,718,000 after buying an additional 127,470 shares during the last quarter. Two Sigma Investments LP lifted its holdings in Donegal Group by 139.8% in the third quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider's stock valued at $2,956,000 after buying an additional 88,878 shares during the period. Arrowstreet Capital Limited Partnership boosted its position 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 valued at $4,746,000 after acquiring an additional 80,614 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Donegal Group by 157.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 131,574 shares of the insurance provider's stock worth $2,635,000 after acquiring an additional 80,395 shares during the period. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Weiss Ratings upgraded Donegal Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their price target on Donegal Group from $18.00 to $20.00 and gave the stock a "market perform" rating in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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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