Key Points
- Mutual Insurance Co Donegal, a major shareholder of Donegal Group, bought 8,500 shares on June 1 at an average price of $16.76, bringing its total stake to 14.1 million shares. The filing shows a series of recent insider purchases as well.
- Donegal Group's stock was trading around $16.98, near its 52-week low of $16.11, and the company has a market value of about $629 million. Its shares were up slightly, by about 0.4%.
- The company recently raised its quarterly dividend to $0.1925 per share, implying an annual yield of about 4.5%. However, its latest earnings fell short of expectations, with EPS of $0.32 versus the $0.40 forecast.
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 on Monday, June 1st. The shares were purchased at an average cost of $16.76 per share, with a total value of $142,460.00. Following the completion of the purchase, the insider directly owned 14,098,609 shares of the company's stock, valued at $236,292,686.84. This trade represents a 0.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Thursday, May 28th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $16.98 per share, with a total value of $144,330.00.
- On Tuesday, May 26th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased 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 bought 8,500 shares of Donegal Group stock. The shares were bought 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 shares were bought 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 shares were bought 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 shares were bought 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 bought 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 bought 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 bought 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 bought at an average cost of $17.13 per share, with a total value of $138,359.01.
Donegal Group Stock Up 0.4%
Shares of DGICA opened at $16.98 on Wednesday. The firm has a market capitalization of $629.11 million, a P/E ratio of 9.49 and a beta of 0.01. Donegal Group, Inc. has a 12-month low of $16.11 and a 12-month high of $21.06. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average price of $17.25 and a 200-day moving average price of $18.41.
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 net margin of 6.77% and a return on equity of 10.31%. The company had revenue of $236.00 million for the quarter, compared to analysts' expectations of $247.83 million. Equities research analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current year.
Donegal Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 4.5%. This is a boost from Donegal Group's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 1st. Donegal Group's payout ratio is currently 43.02%.
Institutional Investors Weigh In On Donegal Group
Several hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in Donegal Group by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,737,266 shares of the insurance provider's stock worth $29,846,000 after purchasing an additional 7,345 shares in the last quarter. Vanguard Group Inc. boosted its position in Donegal Group by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,008,217 shares of the insurance provider's stock worth $19,549,000 after purchasing an additional 39,181 shares in the last quarter. Geode Capital Management LLC boosted its position in Donegal Group by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 534,703 shares of the insurance provider's stock worth $10,685,000 after purchasing an additional 11,891 shares in the last quarter. Renaissance Technologies LLC boosted its position in Donegal Group by 5.8% in the 1st quarter. Renaissance Technologies LLC now owns 392,711 shares of the insurance provider's stock worth $6,747,000 after purchasing an additional 21,500 shares in the last quarter. Finally, State Street Corp boosted its position in Donegal Group by 0.8% in the 4th quarter. State Street Corp now owns 391,729 shares of the insurance provider's stock worth $7,827,000 after purchasing an additional 3,290 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on DGICA. Keefe, Bruyette & Woods reduced 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 report on Friday, May 1st. Weiss Ratings downgraded shares of 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 assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $18.00.
View Our Latest Stock Analysis 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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