Key Points
- Major shareholder Mutual Insurance Co. Donegal bought 8,500 shares of Donegal Group at $17.16 each, totaling $145,860, and now directly owns 14,013,781 shares. The filing showed a small 0.06% increase in its position.
- Donegal Group recently raised its quarterly dividend to $0.1925 per share, or $0.77 annually, which implies a 4.4% yield. The new payout is higher than the previous quarterly dividend of $0.18.
- The company’s latest earnings missed Wall Street estimates, with EPS of $0.32 versus the expected $0.40 and revenue of $236.0 million versus $247.83 million forecast. Analysts currently have a consensus Hold rating with an average price target of $18.00.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock in a transaction on Friday, May 15th. The stock was bought at an average price of $17.16 per share, for a total transaction of $145,860.00. Following the transaction, the insider directly owned 14,013,781 shares in the company, valued at approximately $240,476,481.96. The trade was a 0.06% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major 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 18th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought at an average price of $17.33 per share, for a total transaction of $147,305.00.
- On Wednesday, May 13th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.86 per share, for a total transaction of $143,310.00.
- On Monday, May 11th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.18 per share, for a total transaction of $146,030.00.
- On Friday, May 8th, Mutual Insurance Co Donegal purchased 8,077 shares of Donegal Group stock. The stock was purchased at an average price 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 stock was purchased at an average price of $17.06 per share, for a total transaction of $145,010.00.
- On Tuesday, May 5th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.50 per share, for a total transaction of $140,250.00.
- On Tuesday, March 3rd, Mutual Insurance Co Donegal purchased 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 Up 0.4%
Shares of NASDAQ DGICA opened at $17.40 on Wednesday. The company has a market capitalization of $644.67 million, a P/E ratio of 9.72 and a beta of 0.01. Donegal Group, Inc. has a 52-week low of $16.11 and a 52-week high of $21.12. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The company's 50 day moving average price is $17.20 and its 200-day moving average price is $18.53.
Donegal Group (NASDAQ:DGICA - Get Free Report) last issued 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 firm had revenue of $236.00 million during the quarter, compared to analyst estimates of $247.83 million. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%. Equities 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 announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, May 1st. This is a boost from Donegal Group's previous quarterly dividend of $0.18. Donegal Group's dividend payout ratio is presently 43.02%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Donegal Group by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider's stock worth $29,846,000 after buying an additional 7,345 shares during the last quarter. Vanguard Group Inc. raised its holdings in Donegal Group by 4.0% during 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 during the last quarter. Geode Capital Management LLC raised its holdings in Donegal Group by 2.3% during 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 during the last quarter. Renaissance Technologies LLC raised its holdings in Donegal Group by 5.8% during the first quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider's stock worth $6,747,000 after buying an additional 21,500 shares during the last quarter. Finally, State Street Corp raised its holdings in Donegal Group by 0.8% during the fourth quarter. State Street Corp now owns 391,729 shares of the insurance provider's stock worth $7,827,000 after buying an additional 3,290 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company's stock.
Analysts Set New Price Targets
DGICA has been the topic of a number of research reports. 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 research report on Friday, May 1st. Weiss Ratings downgraded shares of Donegal Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $18.00.
Get Our Latest Stock 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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