Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Buys 15,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $17.98 per share, for a total transaction of $269,700.00. Following the completion of the acquisition, the insider now directly owns 13,248,574 shares of the company’s stock, valued at $238,209,360.52. This represents a 0.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Monday, March 3rd, Mutual Insurance Co Donegal purchased 15,000 shares of Donegal Group stock. The shares were purchased at an average cost of $17.85 per share, for a total transaction of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal acquired 14,700 shares of Donegal Group stock. The stock was acquired at an average cost of $17.06 per share, with a total value of $250,782.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal acquired 12,000 shares of Donegal Group stock. The shares were acquired at an average cost of $16.49 per share, with a total value of $197,880.00.
• On Friday, December 13th, Mutual Insurance Co Donegal bought 7,817 shares of Donegal Group stock. The stock was acquired at an average cost of $16.29 per share, for a total transaction of $127,338.93.
• On Wednesday, December 11th, Mutual Insurance Co Donegal purchased 8,729 shares of Donegal Group stock. The shares were bought at an average price of $16.37 per share, for a total transaction of $142,893.73.
• On Monday, December 9th, Mutual Insurance Co Donegal purchased 70,000 shares of Donegal Group stock. The shares were purchased at an average price of $16.61 per share, with a total value of $1,162,700.00.

Donegal Group Stock Performance

Shares of NASDAQ:DGICA traded up $0.03 during trading hours on Friday, hitting $18.02. The stock had a trading volume of 31,338 shares, compared to its average volume of 71,734. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The stock’s fifty day simple moving average is $15.37 and its 200 day simple moving average is $15.37. The firm has a market capitalization of $610.81 million, a price-to-earnings ratio of 11.85 and a beta of -0.05. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $18.19.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.39. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. The business had revenue of $249.70 million during the quarter, compared to analyst estimates of $250.61 million. Sell-side analysts anticipate that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were issued a dividend of $0.1725 per share. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 3.83%. The ex-dividend date was Tuesday, February 4th. Donegal Group’s dividend payout ratio (DPR) is 45.39%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Donegal Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock valued at $5,371,000 after buying an additional 4,933 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Donegal Group by 39.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock valued at $896,000 after purchasing an additional 17,125 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Donegal Group by 82.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock worth $1,551,000 after purchasing an additional 47,447 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Donegal Group during the 4th quarter worth about $128,000. Finally, Bleakley Financial Group LLC acquired a new stake in Donegal Group during the fourth quarter valued at approximately $244,000. Institutional investors and hedge funds own 27.96% of the company’s stock.

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.