Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 9,800 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 9,800 shares of Donegal Group stock in a transaction that occurred on Friday, August 16th. The stock was acquired at an average cost of $14.78 per share, with a total value of $144,844.00. Following the acquisition, the insider now directly owns 12,185,745 shares in the company, valued at approximately $180,105,311.10. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% 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, August 19th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $14.75 per share, for a total transaction of $147,500.00.
• On Wednesday, August 14th, Mutual Insurance Co Donegal purchased 8,800 shares of Donegal Group stock. The stock was bought at an average cost of $14.56 per share, with a total value of $128,128.00.
• On Monday, August 12th, Mutual Insurance Co Donegal bought 4,956 shares of Donegal Group stock. The stock was bought at an average price of $14.15 per share, for a total transaction of $70,127.40.
• On Friday, August 9th, Mutual Insurance Co Donegal purchased 3,848 shares of Donegal Group stock. The stock was bought at an average cost of $14.13 per share, for a total transaction of $54,372.24.
• On Wednesday, August 7th, Mutual Insurance Co Donegal acquired 6,933 shares of Donegal Group stock. The shares were purchased at an average price of $14.13 per share, with a total value of $97,963.29.
• On Monday, August 5th, Mutual Insurance Co Donegal bought 8,951 shares of Donegal Group stock. The stock was purchased at an average price of $13.50 per share, for a total transaction of $120,838.50.
• On Tuesday, July 30th, Mutual Insurance Co Donegal acquired 9,024 shares of Donegal Group stock. The stock was purchased at an average price of $14.96 per share, for a total transaction of $134,999.04.

Donegal Group Stock Performance

Shares of Donegal Group stock opened at $14.68 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.39. The business’s 50 day moving average price is $13.57 and its 200 day moving average price is $13.67. The company has a market cap of $490.21 million, a price-to-earnings ratio of 91.75 and a beta of -0.05. Donegal Group Inc. has a one year low of $12.26 and a one year high of $15.30.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The firm had revenue of $246.77 million during the quarter, compared to analyst estimates of $243.00 million. Donegal Group had a net margin of 0.76% and a return on equity of 0.90%. On average, research analysts predict that Donegal Group Inc. will post 0.35 EPS for the current year.

Donegal Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a $0.172 dividend. The ex-dividend date was Thursday, August 1st. This represents a $0.69 annualized dividend and a yield of 4.69%. Donegal Group’s payout ratio is 431.25%.

Hedge Funds Weigh In On Donegal Group

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Donegal Group by 34.7% in the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock valued at $16,728,000 after purchasing an additional 304,477 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Donegal Group during the 1st quarter worth about $137,000. Empowered Funds LLC grew its position in Donegal Group by 8.2% in the 1st quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock valued at $1,573,000 after acquiring an additional 8,400 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Donegal Group by 125.0% during the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after purchasing an additional 5,757 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Donegal Group in the first quarter valued at approximately $293,000. Institutional investors and hedge funds own 27.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Donegal Group from a “hold” rating to a “buy” rating in a research note on Friday, April 26th.

About Donegal Group

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.