Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 15,000 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $17.85 per share, for a total transaction of $267,750.00. Following the completion of the transaction, the insider now owns 13,219,273 shares of the company’s stock, valued at approximately $235,964,023.05. This trade represents a 0.11 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 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 Thursday, February 27th, Mutual Insurance Co Donegal acquired 14,700 shares of Donegal Group stock. The shares were acquired at an average cost 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 acquired at an average cost of $16.49 per share, for a total transaction of $197,880.00.
• On Friday, December 13th, Mutual Insurance Co Donegal acquired 7,817 shares of Donegal Group stock. The shares were 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 acquired 8,729 shares of Donegal Group stock. The shares were 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 acquired 70,000 shares of Donegal Group stock. The shares were 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 acquired 270,000 shares of Donegal Group stock. The shares were acquired at an average cost of $16.66 per share, for a total transaction of $4,498,200.00.

Donegal Group Stock Performance

Shares of DGICA stock opened at $17.99 on Friday. The firm has a market cap of $609.79 million, a price-to-earnings ratio of 11.84 and a beta of -0.05. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $18.19. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $15.37 and its 200 day moving average is $15.37.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.39. The company had revenue of $249.70 million during the quarter, compared to the consensus estimate of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. On average, sell-side analysts anticipate that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were paid a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 3.84%. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 4th. Donegal Group’s dividend payout ratio (DPR) is 45.39%.

Institutional Investors Weigh In On Donegal Group

Institutional investors have recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Donegal Group during the fourth quarter worth $68,000. SG Americas Securities LLC acquired a new stake in shares of Donegal Group during the fourth quarter worth $128,000. BNP Paribas Financial Markets lifted 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 worth $130,000 after buying an additional 4,544 shares during the period. XTX Topco Ltd acquired a new stake in shares of Donegal Group during the fourth quarter worth $162,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Donegal Group during the fourth quarter worth $177,000. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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.