Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires $145,120.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 8,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $18.14 per share, with a total value of $145,120.00. Following the purchase, the insider now directly owns 13,334,382 shares in the company, valued at $241,885,689.48. This represents a 0.06 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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, with a total value of $204,044.00.
• On Monday, March 10th, Mutual Insurance Co Donegal purchased 15,000 shares of Donegal Group stock. The stock was acquired at an average cost of $17.83 per share, for a total transaction of $267,450.00.
• On Friday, March 7th, Mutual Insurance Co Donegal acquired 14,608 shares of Donegal Group stock. The shares were bought at an average cost of $17.96 per share, with a total value of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The stock was bought at an average cost of $17.98 per share, for a total transaction 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, with a total value of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal purchased 14,700 shares of Donegal Group stock. The stock was bought at an average price of $17.06 per share, for a total transaction 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, with a total value of $197,880.00.

Donegal Group Price Performance

NASDAQ:DGICA opened at $18.43 on Thursday. The business’s 50-day moving average is $15.89 and its 200 day moving average is $15.58. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $18.90. The company has a market capitalization of $656.83 million, a P/E ratio of 12.13 and a beta of -0.04. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

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

Hedge Funds Weigh In On Donegal Group

Institutional investors have recently bought and sold shares of the business. KLP Kapitalforvaltning AS bought a new stake in shares of Donegal Group in the 4th quarter valued at approximately $68,000. SG Americas Securities LLC bought a new stake in Donegal Group in the fourth quarter worth $128,000. BNP Paribas Financial Markets lifted its position in Donegal Group by 117.2% in the fourth quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock worth $130,000 after buying an additional 4,544 shares during the last quarter. XTX Topco Ltd purchased a new position in Donegal Group during the fourth quarter worth $162,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Donegal Group during the fourth quarter valued at $173,000. 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.