Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires 10,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $14.93 per share, with a total value of $149,300.00. Following the completion of the purchase, the insider now owns 12,226,103 shares of the company’s stock, valued at $182,535,717.79. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more 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 Wednesday, August 21st, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $14.76 per share, with a total value of $125,460.00.
• On Monday, August 19th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were acquired at an average cost of $14.75 per share, for a total transaction of $147,500.00.
• On Friday, August 16th, Mutual Insurance Co Donegal acquired 9,800 shares of Donegal Group stock. The stock was acquired at an average cost of $14.78 per share, with a total value of $144,844.00.
• On Wednesday, August 14th, Mutual Insurance Co Donegal bought 8,800 shares of Donegal Group stock. The shares were acquired at an average cost of $14.56 per share, for a total transaction of $128,128.00.
• On Monday, August 12th, Mutual Insurance Co Donegal purchased 4,956 shares of Donegal Group stock. The stock was acquired at an average price of $14.15 per share, with a total value of $70,127.40.
• On Friday, August 9th, Mutual Insurance Co Donegal acquired 3,848 shares of Donegal Group stock. The shares were bought at an average price of $14.13 per share, for a total transaction of $54,372.24.
• On Wednesday, August 7th, Mutual Insurance Co Donegal purchased 6,933 shares of Donegal Group stock. The stock was bought at an average price of $14.13 per share, for a total transaction of $97,963.29.
• On Monday, August 5th, Mutual Insurance Co Donegal acquired 8,951 shares of Donegal Group stock. The shares were purchased at an average price of $13.50 per share, with a total value of $120,838.50.
• On Tuesday, July 30th, Mutual Insurance Co Donegal bought 9,024 shares of Donegal Group stock. The stock was purchased at an average cost of $14.96 per share, for a total transaction of $134,999.04.

Donegal Group Stock Down 0.7 %

Shares of DGICA opened at $14.87 on Tuesday. The business’s 50 day simple moving average is $13.76 and its 200-day simple moving average is $13.68. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $15.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $496.55 million, a price-to-earnings ratio of 92.94 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results 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. Donegal Group had a net margin of 0.76% and a return on equity of 0.90%. The company had revenue of $246.77 million for the quarter, compared to the consensus estimate of $243.00 million. As a group, equities analysts expect that Donegal Group Inc. will post 0.35 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The business also recently declared 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 of this dividend was Thursday, August 1st. This represents a $0.69 annualized dividend and a yield of 4.63%. Donegal Group’s dividend payout ratio is currently 431.25%.

Institutional Investors Weigh In On Donegal Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in shares of Donegal Group by 170.9% in the 4th quarter. CWM LLC now owns 1,796 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 1,133 shares during the period. Dimensional Fund Advisors LP boosted its stake in Donegal Group by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,825,664 shares of the insurance provider’s stock worth $25,541,000 after buying an additional 53,632 shares during the period. Los Angeles Capital Management LLC purchased a new position in Donegal Group during the first quarter worth $293,000. BNP Paribas Financial Markets increased its position 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 valued at $147,000 after acquiring an additional 5,757 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Donegal Group by 8.2% in the 1st quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock worth $1,573,000 after acquiring an additional 8,400 shares during the last quarter. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

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.