Key Points
- Major shareholder Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group on May 19 at an average price of $17.48, bringing its stake to 14.03 million shares. The filing shows a modest 0.06% increase in ownership.
- The insider had also been buying shares repeatedly in the days leading up to the transaction, including several 8,500-share purchases at prices between $16.50 and $17.43. This suggests sustained buying activity by the company’s largest shareholder.
- Donegal Group recently raised its quarterly dividend to $0.1925 per share, equal to a 4.4% annualized yield, even as its latest earnings missed estimates. Analysts currently rate the stock a consensus Hold with an average target price of $18.00.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 8,328 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $17.48 per share, for a total transaction of $145,573.44. Following the acquisition, the insider owned 14,030,609 shares of the company's stock, valued at $245,255,045.32. The trade was a 0.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Mutual Insurance Co Donegal also recently made the following trade(s):
- On Wednesday, May 20th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.43 per share, for a total transaction of $148,155.00.
- On Monday, May 18th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.33 per share, for a total transaction of $147,305.00.
- On Friday, May 15th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were bought at an average price of $17.16 per share, for a total transaction of $145,860.00.
- On Wednesday, May 13th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were bought 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 bought 8,500 shares of Donegal Group stock. The shares were bought 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 bought 8,077 shares of Donegal Group stock. The shares were bought 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 bought 8,500 shares of Donegal Group stock. The shares were bought 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 bought 8,500 shares of Donegal Group stock. The shares were bought 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 bought 9,000 shares of Donegal Group stock. The shares were bought at an average price of $17.63 per share, for a total transaction of $158,670.00.
Donegal Group Price Performance
Shares of DGICA opened at $17.44 on Thursday. 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, Inc. has a 1 year low of $16.11 and a 1 year high of $21.06. The stock has a market cap of $646.15 million, a P/E ratio of 9.74 and a beta of 0.01. The stock's 50-day moving average price is $17.20 and its two-hundred day moving average price is $18.52.
Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its 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). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The company had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million. On average, equities analysts predict that Donegal Group, Inc. will post 1.7 earnings per share for the current year.
Donegal Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.1925 per share. This is an increase from Donegal Group's previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, May 1st. Donegal Group's payout ratio is 43.02%.
Analysts Set New Price Targets
DGICA has been the topic of a number of research analyst reports. Weiss Ratings lowered Donegal Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods dropped their price target on 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. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $18.00.
View Our Latest Research Report on Donegal Group
Institutional Investors Weigh In On Donegal Group
A number of hedge funds and other institutional investors have recently bought and sold shares of DGICA. CANADA LIFE ASSURANCE Co increased its position in shares of Donegal Group by 31.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider's stock worth $75,000 after purchasing an additional 896 shares during the last quarter. Strs Ohio increased its position in shares of Donegal Group by 3.7% during the 4th quarter. Strs Ohio now owns 28,300 shares of the insurance provider's stock worth $565,000 after purchasing an additional 1,000 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Donegal Group by 8.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider's stock worth $237,000 after purchasing an additional 1,000 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Donegal Group by 1.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider's stock worth $2,576,000 after purchasing an additional 1,274 shares during the last quarter. Finally, Mariner LLC increased its position in shares of Donegal Group by 9.9% during the 4th quarter. Mariner LLC now owns 14,874 shares of the insurance provider's stock worth $297,000 after purchasing an additional 1,342 shares during the last quarter. Institutional investors and hedge funds 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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