Key Points
- Major shareholder Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group at $17.18 each, spending about $146,030 and slightly increasing its stake.
- The insider has been actively buying shares in recent days, including multiple purchases in early May, suggesting continued confidence in the company.
- Donegal Group recently raised its quarterly dividend to $0.1925 per share, and the stock carries a roughly 4.5% annualized yield despite the company missing recent earnings and revenue estimates.
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 that occurred on Monday, May 11th. The shares were purchased at an average cost of $17.18 per share, for a total transaction of $146,030.00. Following the completion of the transaction, the insider owned 13,979,781 shares in the company, valued at approximately $240,172,637.58. This represents a 0.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 Friday, May 8th, Mutual Insurance Co Donegal purchased 8,077 shares of Donegal Group stock. The shares were purchased at an average cost of $17.13 per share, for a total transaction of $138,359.01.
- On Thursday, May 7th, Mutual Insurance Co Donegal purchased 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 acquired 8,500 shares of Donegal Group stock. The shares were bought at an average price 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 bought at an average price of $17.63 per share, with a total value of $158,670.00.
Donegal Group Price Performance
Shares of DGICA opened at $17.01 on Thursday. The company has a market cap of $629.37 million, a P/E ratio of 9.50 and a beta of 0.01. The stock has a fifty day moving average price of $17.23 and a 200 day moving average price of $18.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.12.
Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.08). The company had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%. On average, research analysts forecast that Donegal Group, Inc. will post 1.7 earnings per share for the current year.
Donegal Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be paid a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date 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 currently 43.02%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of Donegal Group by 0.4% in the first 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. Bank of New York Mellon Corp grew its stake in shares of Donegal Group by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 166,616 shares of the insurance provider's stock worth $2,862,000 after purchasing an additional 9,075 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Donegal Group by 44.9% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 36,749 shares of the insurance provider's stock worth $631,000 after purchasing an additional 11,386 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Donegal Group in the first quarter worth $223,000. Finally, Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of Donegal Group by 14.7% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 23,406 shares of the insurance provider's stock worth $402,000 after purchasing an additional 3,006 shares in the last quarter. Institutional investors own 27.96% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on DGICA. Keefe, Bruyette & Woods lowered their price objective on Donegal Group from $19.00 to $18.00 and set a "market perform" rating for the company in a research note on Friday, May 1st. Weiss Ratings downgraded Donegal Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Donegal Group presently has a consensus rating of "Hold" and an average target price of $18.00.
Get Our Latest Report on DGICA
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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