Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases $134,999.04 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 9,024 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased at an average cost of $14.96 per share, with a total value of $134,999.04. Following the completion of the acquisition, the insider now directly owns 12,104,114 shares of the company’s stock, valued at $181,077,545.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Donegal Group Price Performance

Donegal Group stock opened at $13.88 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.39. Donegal Group Inc. has a one year low of $12.26 and a one year high of $15.30. The company has a market cap of $463.45 million, a P/E ratio of 86.75 and a beta of -0.05. The business has a fifty day moving average of $13.31 and a two-hundred day moving average of $13.70.

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

Donegal Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be issued a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend is Thursday, August 1st. Donegal Group’s dividend payout ratio is currently 431.25%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Donegal Group from a “hold” rating to a “buy” rating in a research report on Friday, April 26th.

Hedge Funds Weigh In On Donegal Group

Hedge funds have recently bought and sold shares of the company. CWM LLC raised its position in Donegal Group by 170.9% during the fourth quarter. CWM LLC now owns 1,796 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 1,133 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Donegal Group during the 2nd quarter worth approximately $27,000. SG Americas Securities LLC acquired a new position in shares of Donegal Group during the 4th quarter worth approximately $124,000. EntryPoint Capital LLC purchased a new stake in Donegal Group in the 1st quarter valued at approximately $137,000. Finally, BNP Paribas Financial Markets lifted its stake in Donegal Group by 125.0% in the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock valued at $147,000 after buying an additional 5,757 shares in the last quarter. 27.96% of the stock is 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.