Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 14,608 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 14,608 shares of Donegal Group stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $17.96 per share, with a total value of $262,359.68. Following the acquisition, the insider now directly owns 13,275,682 shares in the company, valued at $238,431,248.72. This trade represents a 0.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% 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 Monday, March 10th, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The stock was bought at an average cost of $17.83 per share, with a total value of $267,450.00.
• On Wednesday, March 5th, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The shares were purchased at an average price of $17.98 per share, with a total value of $269,700.00.
• On Monday, March 3rd, Mutual Insurance Co Donegal purchased 15,000 shares of Donegal Group stock. The shares were purchased at an average cost of $17.85 per share, for a total transaction of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal acquired 14,700 shares of Donegal Group stock. The shares were purchased at an average cost of $17.06 per share, with a total value of $250,782.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal purchased 12,000 shares of Donegal Group stock. The stock was bought at an average cost of $16.49 per share, with a total value of $197,880.00.
• On Friday, December 13th, Mutual Insurance Co Donegal purchased 7,817 shares of Donegal Group stock. The stock was bought at an average cost of $16.29 per share, with a total value of $127,338.93.
• On Wednesday, December 11th, Mutual Insurance Co Donegal acquired 8,729 shares of Donegal Group stock. The stock was acquired at an average price of $16.37 per share, with a total value of $142,893.73.

Donegal Group Trading Up 1.7 %

Shares of DGICA opened at $17.86 on Wednesday. The stock has a market capitalization of $605.38 million, a P/E ratio of 11.75 and a beta of -0.04. 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 firm has a fifty day simple moving average of $15.51 and a two-hundred day simple moving average of $15.45. Donegal Group Inc. has a twelve month low of $12.26 and a twelve month high of $18.19.

Donegal Group (NASDAQ:DGICA) last announced its quarterly 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 business had revenue of $249.70 million during the quarter, compared to analysts’ expectations of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. On average, research analysts anticipate that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were given a $0.1725 dividend. This represents a $0.69 annualized dividend and a dividend yield of 3.86%. This is a boost 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 currently 45.39%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DGICA. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Donegal Group by 124.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider’s stock worth $3,647,000 after acquiring an additional 130,489 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Donegal Group by 29.5% in the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock worth $6,638,000 after acquiring an additional 97,795 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Donegal Group by 351.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider’s stock worth $1,670,000 after acquiring an additional 84,029 shares in the last quarter. Millennium Management LLC increased its stake in shares of Donegal Group by 170.8% in the 4th quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider’s stock worth $1,598,000 after acquiring an additional 65,146 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Donegal Group by 137.8% during the 4th quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider’s stock valued at $1,615,000 after purchasing an additional 60,491 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors.

Donegal Group Company Profile

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.