Key Points
- Major shareholder Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group on May 13 at $16.86 per share, spending about $143,310. This added to a recent run of insider purchases over the prior week.
- Donegal Group recently raised its quarterly dividend to $0.1925 per share, which works out to an annualized yield of about 4.5%. The new payout is up from the previous quarterly dividend of $0.18.
- The company’s latest earnings missed analyst expectations, with Q1 EPS of $0.32 versus the $0.40 consensus and revenue of $236 million versus $247.83 million expected. Analysts currently have an average Hold rating and an average price target of $18.00.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 8,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $16.86 per share, with a total value of $143,310.00. Following the completion of the purchase, the insider directly owned 13,996,781 shares of the company's stock, valued at $235,985,727.66. This represents a 0.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Mutual Insurance Co Donegal also recently made the following trade(s):
- On Monday, May 11th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.18 per share, with a total value of $146,030.00.
- On Friday, May 8th, Mutual Insurance Co Donegal bought 8,077 shares of Donegal Group stock. The stock was purchased at an average cost of $17.13 per share, with a total value of $138,359.01.
- On Thursday, May 7th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.06 per share, with a total value 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 bought 9,000 shares of Donegal Group stock. The stock was purchased at an average cost of $17.63 per share, with a total value of $158,670.00.
Donegal Group Price Performance
NASDAQ:DGICA opened at $17.08 on Friday. The firm has a fifty day simple moving average of $17.20 and a 200 day simple moving average of $18.55. Donegal Group, Inc. has a 1-year low of $16.11 and a 1-year high of $21.12. The stock has a market capitalization of $632.81 million, a PE ratio of 9.54 and a beta of 0.01. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05.
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 the consensus estimate of $0.40 by ($0.08). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The business had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. On average, research analysts expect that Donegal Group, Inc. will post 1.7 EPS for the current fiscal year.
Donegal Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a dividend of $0.1925 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.77 annualized dividend and a yield of 4.5%. This is a positive change from Donegal Group's previous quarterly dividend of $0.18. Donegal Group's payout ratio is 43.02%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new position in Donegal Group in the third quarter valued at about $26,000. Smartleaf Asset Management LLC raised its stake in Donegal Group by 576.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider's stock valued at $55,000 after purchasing an additional 2,341 shares in the last quarter. Versant Capital Management Inc raised its stake in Donegal Group by 79.1% in the third quarter. Versant Capital Management Inc now owns 3,009 shares of the insurance provider's stock valued at $58,000 after purchasing an additional 1,329 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Donegal Group by 422.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider's stock valued at $74,000 after purchasing an additional 2,975 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Donegal Group by 1,377.6% in the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider's stock valued at $75,000 after purchasing an additional 3,513 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Weiss Ratings downgraded Donegal Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday. Keefe, Bruyette & Woods dropped their target price on Donegal Group from $19.00 to $18.00 and set a "market perform" rating for the company in a report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $18.00.
Get Our Latest Research Report on Donegal Group
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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