Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 8,951 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,951 shares of Donegal Group stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $13.50 per share, with a total value of $120,838.50. Following the completion of the acquisition, the insider now directly owns 12,123,065 shares in the company, valued at approximately $163,661,377.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, July 30th, Mutual Insurance Co Donegal purchased 9,024 shares of Donegal Group stock. The stock was acquired at an average cost of $14.96 per share, with a total value of $134,999.04.

Donegal Group Price Performance

Donegal Group stock traded up $0.16 during mid-day trading on Wednesday, hitting $14.07. 14,213 shares of the company were exchanged, compared to its average volume of 56,422. The company has a market capitalization of $469.80 million, a PE ratio of 86.94 and a beta of -0.05. The business has a fifty day moving average of $13.34 and a 200 day moving average of $13.70. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $15.30. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, July 25th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Donegal Group had a net margin of 0.76% and a return on equity of 0.90%. The business had revenue of $246.77 million during the quarter, compared to analysts’ expectations of $243.00 million. As a group, sell-side analysts expect that Donegal Group Inc. will post 0.35 earnings per share for the current year.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Thursday, August 1st. Donegal Group’s dividend payout ratio (DPR) is currently 431.25%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Donegal Group from a “hold” rating to a “buy” rating in a research note on Friday, April 26th.

Institutional Investors Weigh In On Donegal Group

A number of large investors have recently bought and sold shares of DGICA. SG Americas Securities LLC bought a new position in Donegal Group in the 4th quarter valued at $124,000. CWM LLC raised its holdings in shares of Donegal Group by 170.9% in the fourth quarter. CWM LLC now owns 1,796 shares of the insurance provider’s stock valued at $25,000 after buying an additional 1,133 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Donegal Group by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,825,664 shares of the insurance provider’s stock valued at $25,541,000 after buying an additional 53,632 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Donegal Group during the 1st quarter worth about $293,000. Finally, BNP Paribas Financial Markets grew its holdings in Donegal Group by 125.0% during the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after acquiring an additional 5,757 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors.

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.