Key Points
- Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group on Nov. 20 at an average price of $19.49 for $155,920, bringing its direct stake to 13,776,361 shares (about $268.5M) as disclosed in an SEC filing.
- The Nov. 20 buy is part of a sustained insider buying spree: the firm acquired roughly 149,186 shares between Nov. 6–21 for about $2.83 million, including a 51,404‑share purchase on Nov. 21.
- Donegal Group recently beat Q3 EPS estimates (reported $0.52 vs. consensus $0.37), has a market cap of about $728M, and pays a quarterly dividend that annualizes to a ~3.7% yield.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 8,000 shares of the company's stock in a transaction dated Thursday, November 20th. The shares were acquired at an average price of $19.49 per share, for a total transaction of $155,920.00. Following the purchase, the insider directly owned 13,776,361 shares in the company, valued at approximately $268,501,275.89. The trade was a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more 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 Friday, November 21st, Mutual Insurance Co Donegal acquired 51,404 shares of Donegal Group stock. The stock was bought at an average price of $17.86 per share, with a total value of $918,075.44.
- On Wednesday, November 19th, Mutual Insurance Co Donegal purchased 7,587 shares of Donegal Group stock. The stock was bought 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 bought 7,104 shares of Donegal Group stock. The stock was purchased at an average cost of $19.84 per share, with a total value 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 cost of $19.91 per share, with a total value of $159,280.00.
- On Friday, November 14th, Mutual Insurance Co Donegal purchased 8,000 shares of Donegal Group stock. The shares were acquired at an average cost of $19.92 per share, for a total transaction of $159,360.00.
- On Thursday, November 13th, Mutual Insurance Co Donegal bought 29,000 shares of Donegal Group stock. The shares were acquired at an average cost of $19.53 per share, for a total transaction of $566,370.00.
- On Wednesday, November 12th, Mutual Insurance Co Donegal purchased 6,794 shares of Donegal Group stock. The stock was acquired at an average cost of $19.74 per share, for a total transaction of $134,113.56.
- On Tuesday, November 11th, Mutual Insurance Co Donegal purchased 7,297 shares of Donegal Group stock. The stock was acquired at an average price of $19.66 per share, with a total value of $143,459.02.
- On Monday, November 10th, Mutual Insurance Co Donegal acquired 8,000 shares of Donegal Group stock. The shares were bought at an average price of $19.36 per share, for a total transaction of $154,880.00.
- On Thursday, November 6th, Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.13 per share, for a total transaction of $153,040.00.
Donegal Group Stock Performance
DGICA opened at $19.87 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $728.08 million, a price-to-earnings ratio of 8.35 and a beta of 0.01. The company has a fifty day moving average of $19.29 and a 200 day moving average of $18.94. Donegal Group, Inc. has a fifty-two week low of $14.17 and a fifty-two week high of $21.12.
Donegal Group (NASDAQ:DGICA - Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The insurance provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.37 by $0.15. The business had revenue of $245.92 million during the quarter, compared to the consensus estimate of $244.19 million. Donegal Group had a net margin of 8.33% and a return on equity of 14.33%. As a group, sell-side analysts forecast that Donegal Group, Inc. will post 1.2 earnings per share for the current fiscal year.
Donegal Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were paid 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 yield of 3.7%. Donegal Group's dividend payout ratio is presently 30.17%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC bought a new position in Donegal Group during the 2nd quarter valued at about $6,343,000. CSM Advisors LLC purchased a new position in shares of Donegal Group during the second quarter valued at approximately $3,699,000. American Century Companies Inc. grew its stake in shares of Donegal Group by 294.1% during the second quarter. American Century Companies Inc. now owns 149,611 shares of the insurance provider's stock valued at $2,996,000 after buying an additional 111,647 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Donegal Group by 139.8% in the third quarter. Two Sigma Investments LP now owns 152,432 shares of the insurance provider's stock worth $2,956,000 after buying an additional 88,878 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Donegal Group by 33.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,154 shares of the insurance provider's stock worth $7,132,000 after acquiring an additional 88,462 shares during the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
DGICA has been the topic of several recent research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Donegal Group in a report on Wednesday, October 8th. Zacks Research raised shares of Donegal Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Wall Street Zen lowered shares of Donegal Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Janney Montgomery Scott upgraded shares of Donegal Group from a "neutral" rating to a "buy" rating in a report on Tuesday, September 2nd. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $18.00.
Get Our Latest 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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