Key Points
- Major shareholder Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group at $17.33 each, spending $147,305 and lifting its stake to about 14.06 million shares.
- The insider has been actively accumulating shares in multiple recent transactions, consistently buying thousands of shares over several days in May.
- Donegal Group recently raised its quarterly dividend to $0.1925 per share, but its latest earnings missed analyst estimates and the stock currently carries a Hold rating with an $18 average price target.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $17.33 per share, with a total value of $147,305.00. Following the completion of the acquisition, the insider directly owned 14,064,609 shares of the company's stock, valued at approximately $243,739,673.97. The trade was a 0.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through 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 Friday, May 22nd, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.40 per share, with a total value of $147,900.00.
- On Wednesday, May 20th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.43 per share, with a total value of $148,155.00.
- On Tuesday, May 19th, Mutual Insurance Co Donegal bought 8,328 shares of Donegal Group stock. The stock was acquired at an average cost of $17.48 per share, with a total value of $145,573.44.
- On Monday, May 18th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.33 per share, with a total value of $147,305.00.
- On Friday, May 15th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $17.16 per share, with a total value of $145,860.00.
- On Wednesday, May 13th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $16.86 per share, with a total value of $143,310.00.
- On Monday, May 11th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired 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 acquired 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 acquired 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 acquired at an average cost of $16.50 per share, with a total value of $140,250.00.
Donegal Group Price Performance
Shares of NASDAQ:DGICA opened at $17.07 on Friday. Donegal Group, Inc. has a one year low of $16.11 and a one year high of $21.06. 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 has a 50-day simple moving average of $17.25 and a 200-day simple moving average of $18.45. The stock has a market capitalization of $632.44 million, a price-to-earnings ratio of 9.54 and a beta of 0.01.
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). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The firm had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. On average, analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current year.
Donegal Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.5%. This is a positive change from Donegal Group's previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 1st. Donegal Group's dividend payout ratio (DPR) is presently 43.02%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in Donegal Group by 3.1% during the first quarter. Bank of America Corp DE now owns 73,820 shares of the insurance provider's stock worth $1,268,000 after buying an additional 2,243 shares during the period. Amundi acquired a new position in Donegal Group during the first quarter worth about $206,000. Renaissance Technologies LLC grew its position 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 period. Arrowstreet Capital Limited Partnership grew its position in Donegal Group by 41.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 276,237 shares of the insurance provider's stock worth $4,746,000 after buying an additional 80,614 shares during the period. Finally, Dimensional Fund Advisors LP grew its position 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 period. 27.96% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
DGICA has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Donegal Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. Keefe, Bruyette & Woods dropped their price target on shares of Donegal Group from $19.00 to $18.00 and set a "market perform" rating on the stock in a research note 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's stock. According to data from MarketBeat, Donegal Group currently has an average rating of "Hold" and an average price target of $18.00.
Get Our Latest Report on Donegal Group
About Donegal Group
(
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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