Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases $89,910.45 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 5,865 shares of Donegal Group stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $15.33 per share, with a total value of $89,910.45. Following the completion of the acquisition, the insider now directly owns 12,323,325 shares in the company, valued at $188,916,572.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Wednesday, September 11th, Mutual Insurance Co Donegal acquired 8,390 shares of Donegal Group stock. The stock was acquired at an average price of $15.00 per share, with a total value of $125,850.00.
• On Thursday, September 5th, Mutual Insurance Co Donegal purchased 4,889 shares of Donegal Group stock. The shares were bought at an average cost of $15.32 per share, for a total transaction of $74,899.48.
• On Tuesday, September 3rd, Mutual Insurance Co Donegal acquired 9,452 shares of Donegal Group stock. The stock was bought at an average price of $15.24 per share, with a total value of $144,048.48.
• On Friday, August 30th, Mutual Insurance Co Donegal bought 8,028 shares of Donegal Group stock. The stock was bought at an average cost of $15.20 per share, with a total value of $122,025.60.
• On Wednesday, August 28th, Mutual Insurance Co Donegal purchased 6,000 shares of Donegal Group stock. The shares were purchased at an average cost of $15.02 per share, for a total transaction of $90,120.00.
• On Monday, August 26th, Mutual Insurance Co Donegal acquired 9,996 shares of Donegal Group stock. The shares were purchased at an average cost of $14.97 per share, with a total value of $149,640.12.
• On Friday, August 23rd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $14.93 per share, with a total value of $149,300.00.
• On Wednesday, August 21st, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $14.76 per share, for a total transaction of $125,460.00.
• 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, with a total value of $147,500.00.
• On Friday, August 16th, Mutual Insurance Co Donegal purchased 9,800 shares of Donegal Group stock. The stock was acquired at an average price of $14.78 per share, for a total transaction of $144,844.00.

Donegal Group Price Performance

DGICA stock opened at $15.35 on Friday. The stock’s 50 day moving average price is $14.46 and its 200 day moving average price is $13.75. The firm has a market cap of $512.58 million, a P/E ratio of 95.94 and a beta of -0.05. 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 1 year low of $12.26 and a 1 year high of $15.41.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, July 25th. The insurance provider reported $0.11 earnings per share 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 0.89%. The firm had revenue of $246.77 million during the quarter, compared to the consensus estimate of $243.00 million. On average, sell-side analysts expect that Donegal Group Inc. will post 0.45 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.172 per share. 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 4.48%. Donegal Group’s dividend payout ratio (DPR) is currently 431.25%.

Institutional Trading of Donegal Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Donegal Group during the 2nd quarter valued at about $27,000. Hsbc Holdings PLC raised its stake in Donegal Group by 7.8% during the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after purchasing an additional 2,250 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Donegal Group by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock valued at $1,669,000 after purchasing an additional 5,416 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Donegal Group by 125.0% during 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 during the period. Finally, Empowered Funds LLC increased its holdings in shares of Donegal Group by 8.2% during the 1st quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock worth $1,573,000 after buying an additional 8,400 shares during the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

Donegal Group Company Profile

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.