Key Points
- Major shareholder Mutual Insurance Co. Donegal bought 10,000 DGICA shares at an average price of $18.52, investing $185,200. Its stake increased to 14.16 million shares, valued at approximately $262.3 million.
- Donegal Group recently reported stronger-than-expected quarterly results, with EPS of $0.53 versus the $0.42 estimate and revenue of $241.12 million. The company also maintains a quarterly dividend of $0.1925, equivalent to a 4.2% annual yield.
- DGICA shares opened at $18.51, while analysts maintain a “Moderate Buy” consensus rating and an average price target of $20.00.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average price of $18.52 per share, for a total transaction of $185,200.00. Following the transaction, the insider owned 14,164,691 shares of the company's stock, valued at $262,330,077.32. This represents a 0.07% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Mutual Insurance Co Donegal also recently made the following trade(s):
- On Thursday, August 6th, Mutual Insurance Co Donegal bought 18,000 shares of Donegal Group stock. The stock was bought at an average price of $19.67 per share, with a total value of $354,060.00.
- On Friday, June 12th, Mutual Insurance Co Donegal acquired 9,682 shares of Donegal Group stock. The shares were purchased at an average cost of $17.62 per share, for a total transaction of $170,596.84.
- On Thursday, June 11th, Mutual Insurance Co Donegal acquired 9,900 shares of Donegal Group stock. The shares were purchased at an average price of $17.56 per share, with a total value of $173,844.00.
- On Wednesday, June 3rd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $16.62 per share, for a total transaction of $166,200.00.
- On Monday, June 1st, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $16.76 per share, with a total value of $142,460.00.
- On Thursday, May 28th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $16.98 per share, with a total value of $144,330.00.
- On Tuesday, May 26th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $17.33 per share, for a total transaction of $147,305.00.
- On Friday, May 22nd, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought at an average price of $17.40 per share, with a total value of $147,900.00.
Donegal Group Stock Down 0.5%
DGICA stock opened at $18.51 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. The company's 50-day moving average price is $18.66 and its 200 day moving average price is $17.89. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The company has a market cap of $1.22 billion, a P/E ratio of 9.59 and a beta of -0.01.
Donegal Group (NASDAQ:DGICA - Get Free Report) last issued its earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.11. The company had revenue of $241.12 million during the quarter, compared to analysts' expectations of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. On average, research analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.
Donegal Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.1925 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.77 annualized dividend and a yield of 4.2%. Donegal Group's dividend payout ratio is 39.90%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of DGICA. Smartleaf Asset Management LLC boosted its position 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 worth $55,000 after acquiring an additional 2,341 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Donegal Group by 422.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider's stock worth $74,000 after purchasing an additional 2,975 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Donegal Group by 31.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider's stock valued at $75,000 after purchasing an additional 896 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Donegal Group by 1,377.6% during the 4th 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 during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Donegal Group by 443.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider's stock worth $99,000 after buying an additional 4,022 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on DGICA shares. Weiss Ratings upgraded shares of Donegal Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods raised their price objective on shares of Donegal Group from $18.00 to $20.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Donegal Group currently has an average rating of "Moderate Buy" and an average target price of $20.00.
Get Our Latest Report on DGICA
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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