Donegal Group (NASDAQ:DGICA) Major Shareholder Purchases $170,596.84 in Stock

by · The Markets Daily

Donegal Group, Inc. (NASDAQ:DGICAGet Free Report) major shareholder Mutual Insurance Co Donegal purchased 9,682 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were acquired at an average price of $17.62 per share, with a total value of $170,596.84. Following the purchase, the insider directly owned 14,136,691 shares in the company, valued at $249,088,495.42. This represents a 0.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% 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 Thursday, June 11th, Mutual Insurance Co Donegal bought 9,900 shares of Donegal Group stock. The stock was purchased at an average price of $17.56 per share, with a total value of $173,844.00.
  • On Wednesday, June 3rd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $16.62 per share, with a total value of $166,200.00.
  • On Monday, June 1st, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.76 per share, with a total value of $142,460.00.
  • On Thursday, May 28th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.98 per share, with a total value of $144,330.00.
  • On Tuesday, May 26th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.33 per share, with a total value of $147,305.00.
  • On Friday, May 22nd, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.40 per share, with a total value of $147,900.00.
  • On Wednesday, May 20th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.43 per share, with a total value of $148,155.00.
  • On Tuesday, May 19th, Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group stock. The stock was purchased at an average price of $17.48 per share, with a total value of $145,573.44.
  • On Monday, May 18th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.33 per share, with a total value of $147,305.00.
  • On Friday, May 15th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.16 per share, with a total value of $145,860.00.

Donegal Group Stock Performance

NASDAQ DGICA opened at $17.53 on Thursday. Donegal Group, Inc. has a 1 year low of $16.11 and a 1 year high of $21.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market cap of $649.49 million, a price-to-earnings ratio of 9.79 and a beta of 0.01. The company has a fifty day moving average price of $17.27 and a 200-day moving average price of $18.19.

Donegal Group (NASDAQ:DGICAGet Free Report) last posted its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.08). The company had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. As a group, equities research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.1925 per share. The ex-dividend date was Friday, May 1st. This is an increase from Donegal Group’s previous quarterly dividend of $0.18. This represents a $0.77 annualized dividend and a yield of 4.4%. Donegal Group’s dividend payout ratio (DPR) is currently 43.02%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DGICA. Keefe, Bruyette & Woods reduced their price target on shares of Donegal Group from $19.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, May 1st. Weiss Ratings lowered shares of Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $18.00.

Check Out Our Latest Report on Donegal Group

Hedge Funds Weigh In On Donegal Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Donegal Group by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider’s stock worth $29,846,000 after purchasing an additional 7,345 shares during the period. Vanguard Group Inc. boosted its position in Donegal Group by 4.0% during the third quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider’s stock worth $19,549,000 after purchasing an additional 39,181 shares during the period. Geode Capital Management LLC boosted its position in Donegal Group by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 534,703 shares of the insurance provider’s stock worth $10,685,000 after purchasing an additional 11,891 shares during the period. Renaissance Technologies LLC boosted its position in Donegal Group by 5.8% during the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider’s stock worth $6,747,000 after purchasing an additional 21,500 shares during the period. Finally, State Street Corp boosted its position in Donegal Group by 0.8% during the fourth quarter. State Street Corp now owns 391,729 shares of the insurance provider’s stock worth $7,827,000 after purchasing an additional 3,290 shares during the period. Institutional investors own 27.96% of the company’s stock.

Donegal Group Company Profile

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Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.

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