Mutual Insurance Co Donegal Buys 12,000 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 12,000 shares of Donegal Group stock in a transaction dated Tuesday, February 25th. The shares were bought at an average cost of $16.49 per share, for a total transaction of $197,880.00. Following the transaction, the insider now directly owns 13,164,372 shares of the company’s stock, valued at approximately $217,080,494.28. The trade was a 0.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% 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 Friday, December 13th, Mutual Insurance Co Donegal bought 7,817 shares of Donegal Group stock. The stock was acquired at an average cost of $16.29 per share, for a total transaction of $127,338.93.
• On Wednesday, December 11th, Mutual Insurance Co Donegal bought 8,729 shares of Donegal Group stock. The stock was acquired at an average cost of $16.37 per share, for a total transaction of $142,893.73.
• On Monday, December 9th, Mutual Insurance Co Donegal bought 70,000 shares of Donegal Group stock. The stock was acquired at an average cost of $16.61 per share, for a total transaction of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal bought 270,000 shares of Donegal Group stock. The stock was acquired at an average cost of $16.66 per share, for a total transaction of $4,498,200.00.
• On Wednesday, December 4th, Mutual Insurance Co Donegal bought 9,522 shares of Donegal Group stock. The stock was acquired at an average cost of $16.54 per share, for a total transaction of $157,493.88.
• On Monday, December 2nd, Mutual Insurance Co Donegal bought 8,354 shares of Donegal Group stock. The stock was acquired at an average cost of $16.73 per share, for a total transaction of $139,762.42.
• On Friday, November 29th, Mutual Insurance Co Donegal bought 8,300 shares of Donegal Group stock. The stock was acquired at an average cost of $16.59 per share, for a total transaction of $137,697.00.

Donegal Group Stock Performance

Shares of NASDAQ DGICA opened at $17.49 on Friday. The firm’s 50-day moving average price is $15.17 and its two-hundred day moving average price is $15.28. The stock has a market capitalization of $592.84 million, a P/E ratio of 11.51 and a beta of -0.02. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $17.52.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.39. The company had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $250.61 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. As a group, sell-side analysts forecast that Donegal Group Inc. will post 1.2 earnings per share for the current year.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Tuesday, February 4th. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s payout ratio is 45.39%.

Institutional Investors Weigh In On Donegal Group

Hedge funds have recently made changes to their positions in the business. KLP Kapitalforvaltning AS acquired a new position in shares of Donegal Group during the fourth quarter valued at approximately $68,000. SG Americas Securities LLC acquired a new position in shares of Donegal Group during the fourth quarter valued at approximately $128,000. BNP Paribas Financial Markets increased its stake in shares of Donegal Group by 117.2% during the fourth quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock valued at $130,000 after acquiring an additional 4,544 shares during the period. XTX Topco Ltd acquired a new position in shares of Donegal Group during the fourth quarter valued at approximately $162,000. Finally, Private Advisor Group LLC acquired a new position in shares of Donegal Group during the fourth quarter valued at approximately $177,000. 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.