Key Points
- Major shareholder Mutual Insurance Co Donegal bought 8,077 shares of Donegal Group at an average price of $17.13, increasing its stake slightly to 13,971,281 shares. The filing shows a total transaction value of about $138,359.
- Donegal Group recently raised its quarterly dividend to $0.1925 per share from $0.18, implying an annualized yield of about 4.5%. The dividend is scheduled to be paid on May 15 to shareholders of record on May 1.
- The company’s latest earnings missed expectations, reporting $0.32 per share versus the $0.40 consensus and revenue of $236 million versus the expected $247.83 million. Analysts currently have a consensus target price of $18.00 and a “Moderate Buy” rating.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 8,077 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average price of $17.13 per share, for a total transaction of $138,359.01. Following the completion of the purchase, the insider directly owned 13,971,281 shares of the company's stock, valued at approximately $239,328,043.53. This trade represents a 0.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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, May 7th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.06 per share, for a total transaction of $145,010.00.
- On Tuesday, May 5th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $16.50 per share, with a total value of $140,250.00.
- On Tuesday, March 3rd, Mutual Insurance Co Donegal acquired 9,000 shares of Donegal Group stock. The shares were acquired at an average cost of $17.63 per share, with a total value of $158,670.00.
Donegal Group Stock Down 0.4%
NASDAQ DGICA opened at $17.14 on Tuesday. 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 capitalization of $634.18 million, a price-to-earnings ratio of 9.58 and a beta of 0.01. Donegal Group, Inc. has a 1-year low of $16.11 and a 1-year high of $21.12. The stock's 50 day moving average is $17.26 and its two-hundred day moving average is $18.61.
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 for the quarter, missing analysts' consensus estimates of $0.40 by ($0.08). Donegal Group had a net margin of 6.77% and a return on equity of 10.41%. The company had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million. Equities analysts forecast that Donegal Group, Inc. will post 1.6 earnings per share for the current fiscal year.
Donegal Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be issued a $0.1925 dividend. This represents a $0.77 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, May 1st. This is an increase from Donegal Group's previous quarterly dividend of $0.18. Donegal Group's dividend payout ratio (DPR) is presently 43.02%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on DGICA. Keefe, Bruyette & Woods reduced 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 research report on Friday, May 1st. Weiss Ratings reissued a "buy (b)" rating on shares of Donegal Group in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.00.
View Our Latest Research Report on Donegal Group
Institutional Investors Weigh In On Donegal Group
Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Donegal Group by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider's stock worth $29,846,000 after acquiring an additional 7,345 shares during the last quarter. Vanguard Group Inc. raised its holdings 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 valued at $19,549,000 after purchasing an additional 39,181 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $10,685,000 after purchasing an additional 11,891 shares during the last quarter. State Street Corp lifted its position in shares of Donegal Group by 0.8% in the fourth quarter. State Street Corp now owns 391,729 shares of the insurance provider's stock worth $7,827,000 after purchasing an additional 3,290 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Donegal Group by 1.6% during the fourth quarter. Renaissance Technologies LLC now owns 371,211 shares of the insurance provider's stock worth $7,417,000 after purchasing an additional 5,800 shares during the last quarter. Institutional investors own 27.96% of the company's stock.
Donegal Group Company Profile
(
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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