Key Points
- Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group on May 5 at $16.50 each (total $140,250), raising its stake to 13,946,204 shares—an ownership increase of about 0.06% valued at roughly $230.1M.
- Donegal raised its quarterly dividend to $0.1925 per share (ex-dividend May 1, payable May 15), implying a $0.77 annualized payout and a ~4.5% yield.
- The company missed Q1 expectations with an EPS of $0.32 vs. $0.40 expected and revenue below estimates, while analysts maintain a consensus "Moderate Buy" with a $18 target and mixed ratings.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 8,500 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were purchased at an average cost of $16.50 per share, with a total value of $140,250.00. Following the transaction, the insider directly owned 13,946,204 shares in the company, valued at $230,112,366. This trade represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 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 Tuesday, March 3rd, Mutual Insurance Co Donegal acquired 9,000 shares of Donegal Group stock. The stock was purchased at an average price of $17.63 per share, for a total transaction of $158,670.00.
Donegal Group Stock Performance
Shares of NASDAQ:DGICA opened at $17.22 on Friday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a market cap of $637.14 million, a price-to-earnings ratio of 9.62 and a beta of 0.01. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.12. The company has a 50-day moving average price of $17.28 and a 200-day moving average price of $18.64.
Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.08). The business had revenue of $236.00 million for the quarter, compared to analysts' expectations of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.41%. As a group, equities analysts anticipate that Donegal Group, Inc. will post 1.6 EPS for the current year.
Donegal Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a dividend of $0.1925 per share. This is a positive change from Donegal Group's previous quarterly dividend of $0.18. The ex-dividend date is Friday, May 1st. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.5%. Donegal Group's dividend payout ratio (DPR) is currently 43.02%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on DGICA shares. Keefe, Bruyette & Woods dropped their target price on shares of Donegal Group from $19.00 to $18.00 and set a "market perform" rating on the stock in a report on Friday, May 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Donegal Group in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.
View Our Latest Stock Report on DGICA
Hedge Funds Weigh In On Donegal Group
Several institutional investors and hedge funds have recently modified their holdings of DGICA. Dimensional Fund Advisors LP boosted its stake in Donegal Group by 0.4% in the 1st 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 in the last quarter. Vanguard Group Inc. lifted its stake in shares of Donegal Group by 4.0% in the third quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider's stock worth $19,549,000 after buying an additional 39,181 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Donegal Group by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 534,703 shares of the insurance provider's stock worth $10,685,000 after buying an additional 11,891 shares in the last quarter. State Street Corp grew its holdings in shares of Donegal Group by 0.8% during the fourth quarter. State Street Corp now owns 391,729 shares of the insurance provider's stock valued at $7,827,000 after buying an additional 3,290 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Donegal Group by 1.6% during the fourth quarter. Renaissance Technologies LLC now owns 371,211 shares of the insurance provider's stock valued at $7,417,000 after acquiring an additional 5,800 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors.
About Donegal Group
(
Get Free Report)
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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