Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases $128,128.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $14.56 per share, with a total value of $128,128.00. Following the acquisition, the insider now owns 12,166,140 shares in the company, valued at approximately $177,138,998.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large 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 Monday, August 12th, Mutual Insurance Co Donegal bought 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 purchased 3,848 shares of Donegal Group stock. The shares were acquired 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 acquired 6,933 shares of Donegal Group stock. The stock was acquired 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 shares were bought 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 purchased 9,024 shares of Donegal Group stock. The stock was bought at an average price of $14.96 per share, with a total value of $134,999.04.

Donegal Group Price Performance

DGICA stock opened at $14.77 on Friday. The firm has a 50 day moving average of $13.54 and a 200-day moving average of $13.68. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $493.21 million, a P/E ratio of 92.31 and a beta of -0.05. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $15.30.

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

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $0.172 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $0.69 dividend on an annualized basis and a yield of 4.66%. Donegal Group’s dividend payout ratio is currently 431.25%.

Analyst Ratings Changes

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

Institutional Trading of Donegal Group

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Donegal Group by 34.7% during the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock valued at $16,728,000 after buying an additional 304,477 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 valued at $25,541,000 after purchasing an additional 53,632 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Donegal Group during the second quarter worth about $448,000. Los Angeles Capital Management LLC purchased a new position in shares of Donegal Group in the 1st quarter worth about $293,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Donegal Group by 30.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock valued at $1,072,000 after purchasing an additional 17,614 shares during the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

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.