Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $457,520.95 in Stock

by · The Cerbat Gem

Donegal Group, Inc. (NASDAQ:DGICA – Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 22,819 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were acquired at an average cost of $20.05 per share, with a total value of $457,520.95. Following the completion of the transaction, the insider owned 13,913,704 shares in the company, valued at $278,969,765.20. This trade represents a 0.16% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Tuesday, December 9th, Mutual Insurance Co Donegal acquired 28,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.81 per share, for a total transaction of $554,680.00.
  • On Monday, December 8th, Mutual Insurance Co Donegal bought 27,524 shares of Donegal Group stock. The stock was bought at an average cost of $19.53 per share, with a total value of $537,543.72.
  • On Monday, December 1st, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The stock was bought at an average price of $20.20 per share, with a total value of $303,000.00.
  • On Wednesday, November 26th, Mutual Insurance Co Donegal purchased 5,000 shares of Donegal Group stock. The stock was bought at an average price of $20.25 per share, with a total value of $101,250.00.
  • On Tuesday, November 25th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The stock was purchased at an average cost of $20.18 per share, with a total value of $161,440.00.
  • On Friday, November 21st, Mutual Insurance Co Donegal acquired 51,404 shares of Donegal Group stock. The shares were purchased at an average price of $17.86 per share, for a total transaction of $918,075.44.
  • On Thursday, November 20th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.49 per share, for a total transaction of $155,920.00.
  • On Wednesday, November 19th, Mutual Insurance Co Donegal bought 7,587 shares of Donegal Group stock. The stock was purchased at an average price of $19.62 per share, with a total value of $148,856.94.
  • On Tuesday, November 18th, Mutual Insurance Co Donegal purchased 7,104 shares of Donegal Group stock. The shares were purchased at an average cost of $19.84 per share, for a total transaction of $140,943.36.
  • On Monday, November 17th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The stock was purchased at an average price of $19.91 per share, for a total transaction of $159,280.00.

Donegal Group Stock Up 0.3%

Shares of Donegal Group stock traded up $0.06 during trading hours on Friday, hitting $20.30. 92,482 shares of the company’s stock traded hands, compared to its average volume of 129,697. Donegal Group, Inc. has a twelve month low of $14.17 and a twelve month high of $21.12. The company has a market cap of $743.61 million, a PE ratio of 8.39 and a beta of 0.04. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $19.48 and a 200-day simple moving average of $18.95.

Donegal Group (NASDAQ:DGICA – Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The insurance provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. Donegal Group had a return on equity of 14.28% and a net margin of 8.72%.The firm had revenue of $245.92 million during the quarter, compared to the consensus estimate of $244.19 million. Equities research analysts anticipate that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were given a dividend of $0.1825 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.6%. Donegal Group’s dividend payout ratio (DPR) is presently 30.17%.

Institutional Investors Weigh In On Donegal Group

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Donegal Group by 2.1% during the first quarter. Vanguard Group Inc. now owns 946,432 shares of the insurance provider’s stock valued at $18,578,000 after acquiring an additional 19,174 shares during the period. Deutsche Bank AG lifted its position in Donegal Group by 566.5% in the 1st quarter. Deutsche Bank AG now owns 12,863 shares of the insurance provider’s stock valued at $253,000 after purchasing an additional 10,933 shares during the last quarter. Invesco Ltd. lifted its position in Donegal Group by 18.4% in the 1st quarter. Invesco Ltd. now owns 40,999 shares of the insurance provider’s stock valued at $805,000 after purchasing an additional 6,377 shares during the last quarter. Nuveen LLC acquired a new position in Donegal Group during the 1st quarter valued at about $556,000. Finally, Russell Investments Group Ltd. grew its position in Donegal Group by 47.4% in the 1st quarter. Russell Investments Group Ltd. now owns 5,225 shares of the insurance provider’s stock worth $103,000 after purchasing an additional 1,681 shares during the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DGICA shares. Janney Montgomery Scott upgraded shares of Donegal Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Donegal Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $18.00.

Get Our Latest Stock Report on Donegal Group

Donegal Group Company Profile

(Get Free Report)

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.

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