Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases 8,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock in a transaction dated Friday, March 14th. The stock was acquired at an average price of $18.14 per share, for a total transaction of $145,120.00. Following the completion of the acquisition, the insider now owns 13,334,382 shares of the company’s stock, valued at approximately $241,885,689.48. This trade represents a 0.06 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more 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 Wednesday, March 12th, Mutual Insurance Co Donegal acquired 11,600 shares of Donegal Group stock. The stock was acquired at an average cost of $17.59 per share, for a total transaction of $204,044.00.
• On Monday, March 10th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The shares were acquired at an average price of $17.83 per share, with a total value of $267,450.00.
• On Friday, March 7th, Mutual Insurance Co Donegal purchased 14,608 shares of Donegal Group stock. The stock was bought at an average price of $17.96 per share, for a total transaction of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The shares were bought at an average price of $17.98 per share, with a total value of $269,700.00.
• On Monday, March 3rd, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The shares were bought 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 purchased 14,700 shares of Donegal Group stock. The stock was purchased at an average price 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 purchased at an average price of $16.49 per share, for a total transaction of $197,880.00.

Donegal Group Price Performance

Shares of DGICA stock opened at $18.43 on Thursday. Donegal Group Inc. has a twelve month low of $12.26 and a twelve month high of $18.90. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $15.89 and a two-hundred day simple moving average of $15.58. The stock has a market capitalization of $656.83 million, a price-to-earnings ratio of 12.13 and a beta of -0.04.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.39. The company had revenue of $249.70 million during the quarter, compared to analyst estimates of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. On average, analysts predict that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Donegal Group

A number of hedge funds and other institutional investors have recently modified their holdings of DGICA. Geode Capital Management LLC boosted its position in Donegal Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock valued at $5,371,000 after purchasing an additional 4,933 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Donegal Group by 39.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock worth $896,000 after purchasing an additional 17,125 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Donegal Group by 82.1% during 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 buying an additional 47,447 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Donegal Group during the 4th quarter worth about $128,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of Donegal Group during the 4th quarter valued at about $244,000. 27.96% of the stock is currently owned by 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.