Key Points
- Major shareholder Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group at $16.98 each, spending $144,330 and slightly increasing its stake.
- The shareholder has been actively accumulating shares over recent weeks, with multiple similar purchases reported in May.
- Donegal Group recently raised its quarterly dividend to $0.1925 per share, while analysts currently have a Hold consensus rating with a $18.00 price target.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were bought at an average cost of $16.98 per share, for a total transaction of $144,330.00. Following the transaction, the insider owned 14,081,609 shares of the company's stock, valued at $239,105,720.82. This represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Mutual Insurance Co Donegal also recently made the following trade(s):
- On Tuesday, May 26th, Mutual Insurance Co Donegal purchased 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 22nd, Mutual Insurance Co Donegal purchased 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 purchased 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 purchased 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 purchased 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 shares were purchased 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 shares were purchased 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 shares were 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 shares were 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 shares were purchased at an average cost of $17.06 per share, with a total value of $145,010.00.
Donegal Group Trading Down 0.6%
Donegal Group stock opened at $16.97 on Friday. 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 52 week low of $16.11 and a 52 week high of $21.06. The company has a market capitalization of $628.74 million, a price-to-earnings ratio of 9.48 and a beta of 0.01. The stock has a 50-day moving average price of $17.25 and a 200 day moving average price of $18.44.
Donegal Group (NASDAQ:DGICA - Get Free Report) last released its earnings results on Thursday, April 30th. The insurance provider reported $0.32 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. Sell-side analysts anticipate that Donegal Group, Inc. will post 1.75 EPS for the current year.
Donegal Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.1925 dividend. The ex-dividend date of this dividend was Friday, May 1st. This is a boost from Donegal Group's previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 4.5%. Donegal Group's dividend payout ratio is presently 43.02%.
Analyst Ratings Changes
A number of brokerages have issued reports on DGICA. Keefe, Bruyette & Woods decreased their price target 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. Weiss Ratings downgraded Donegal Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $18.00.
Get Our Latest Analysis on DGICA
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in shares of Donegal Group by 0.4% during the 1st 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. Vanguard Group Inc. raised its stake in shares of Donegal Group by 4.0% during the 3rd 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 period. Geode Capital Management LLC raised its stake in shares of Donegal Group by 2.3% during the 4th 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 period. Renaissance Technologies LLC raised its stake in shares of Donegal Group by 5.8% during the 1st 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. Finally, State Street Corp raised its stake in shares of Donegal Group by 0.8% during the 4th 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 period. 27.96% of the stock is owned by institutional investors and hedge funds.
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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