Key Points
- Mutual Insurance Co Donegal, the major shareholder of Donegal Group, bought 8,500 shares on Friday, May 22 at an average price of $17.40 per share, totaling about $147,900. Following the purchase, it owned 14,056,109 shares valued at roughly $244.6 million.
- This was part of a string of recent insider purchases, with Mutual Insurance Co Donegal repeatedly adding to its stake throughout May and March in similarly sized transactions around the mid-$17 range.
- Donegal Group recently reported Q1 earnings of $0.32 per share, below analyst expectations, while also raising its quarterly dividend to $0.1925 per share, or a 4.4% yield.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 8,500 shares of the company's stock in a transaction on Friday, May 22nd. The shares were bought at an average price of $17.40 per share, for a total transaction of $147,900.00. Following the completion of the acquisition, the insider directly owned 14,056,109 shares in the company, valued at approximately $244,576,296.60. This trade represents a 0.06% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 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 Wednesday, May 20th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were bought at an average price of $17.43 per share, for a total transaction of $148,155.00.
- On Tuesday, May 19th, Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group stock. The shares were bought at an average price of $17.48 per share, for a total transaction of $145,573.44.
- On Monday, May 18th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were bought 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 acquired 8,500 shares of Donegal Group stock. The stock was acquired 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 acquired 8,500 shares of Donegal Group stock. The stock was acquired 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 acquired 8,077 shares of Donegal Group stock. The stock was acquired 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 acquired 8,500 shares of Donegal Group stock. The stock was acquired 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 acquired 8,500 shares of Donegal Group stock. The stock was acquired 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 acquired 9,000 shares of Donegal Group stock. The stock was acquired at an average price of $17.63 per share, for a total transaction of $158,670.00.
Donegal Group Price Performance
NASDAQ DGICA opened at $17.36 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The company has a market capitalization of $643.19 million, a PE ratio of 9.70 and a beta of 0.01. The firm's 50 day moving average is $17.25 and its 200-day moving average is $18.48.
Donegal Group (NASDAQ:DGICA - Get Free Report) last posted its quarterly earnings data 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 net margin of 6.77% and a return on equity of 10.31%. The business had revenue of $236.00 million during the quarter, compared to analyst estimates of $247.83 million. Equities research analysts anticipate that Donegal Group, Inc. will post 1.7 earnings per share for the current fiscal year.
Donegal Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.4%. This is a boost from Donegal Group's previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 1st. Donegal Group's dividend payout ratio is 43.02%.
Hedge Funds Weigh In On Donegal Group
Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in shares of Donegal Group in the third quarter valued at $26,000. Smartleaf Asset Management LLC grew its stake in shares of 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 buying an additional 2,341 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of 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 buying an additional 2,975 shares in the last quarter. IFP Advisors Inc grew its stake in shares of 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 buying an additional 3,513 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in Donegal Group by 31.6% during the fourth 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 period. 27.96% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on DGICA shares. Weiss Ratings downgraded shares of Donegal Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, May 11th. Keefe, Bruyette & Woods decreased their target price on shares of 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. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Donegal Group currently has a consensus rating of "Hold" and a consensus target price of $18.00.
Check Out Our Latest Research 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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