Key Points
- Mutual Insurance Co Donegal bought 9,508 Donegal Group shares at an average price of $19.11, spending $181,697.88 and increasing its stake to 14.23 million shares valued at roughly $272 million.
- The purchase extends a series of acquisitions by the major shareholder, which has bought Donegal Group shares repeatedly since June. Donegal Group stock recently traded at $18.98, with a 12-month range of $16.11 to $21.06.
- Donegal Group exceeded quarterly earnings expectations, reporting $0.53 EPS versus the $0.42 consensus and $241.12 million in revenue. The company pays a $0.1925 quarterly dividend, equivalent to a 4.1% annualized yield, while analysts maintain a “Moderate Buy” consensus rating.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 9,508 shares of the firm's stock in a transaction on Wednesday, August 26th. The shares were acquired at an average price of $19.11 per share, with a total value of $181,697.88. Following the completion of the acquisition, the insider owned 14,233,714 shares in the company, valued at approximately $272,006,274.54. This trade represents a 0.07% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 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 Monday, August 24th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.06 per share, for a total transaction of $190,600.00.
- On Friday, August 21st, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $18.68 per share, for a total transaction of $186,800.00.
- On Thursday, August 20th, Mutual Insurance Co Donegal bought 9,815 shares of Donegal Group stock. The shares were acquired at an average price of $18.66 per share, for a total transaction of $183,147.90.
- On Wednesday, August 19th, Mutual Insurance Co Donegal bought 9,700 shares of Donegal Group stock. The shares were acquired at an average cost of $18.61 per share, with a total value of $180,517.00.
- On Monday, August 17th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $18.52 per share, with a total value of $185,200.00.
- On Thursday, August 6th, Mutual Insurance Co Donegal purchased 18,000 shares of Donegal Group stock. The stock was acquired at an average cost of $19.67 per share, for a total transaction of $354,060.00.
- On Friday, June 12th, Mutual Insurance Co Donegal purchased 9,682 shares of Donegal Group stock. The stock was acquired 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 purchased 9,900 shares of Donegal Group stock. The shares were acquired at an average price of $17.56 per share, for a total transaction of $173,844.00.
- On Wednesday, June 3rd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $16.62 per share, with a total value of $166,200.00.
- On Monday, June 1st, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was bought at an average price of $16.76 per share, with a total value of $142,460.00.
Donegal Group Stock Performance
NASDAQ:DGICA opened at $18.98 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 twelve month low of $16.11 and a twelve month high of $21.06. The company has a fifty day moving average of $18.83 and a 200-day moving average of $17.89. The firm has a market capitalization of $704.54 million, a P/E ratio of 9.83 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, topping the consensus estimate of $0.42 by $0.11. The business had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. As a group, sell-side analysts anticipate that Donegal Group, Inc. will post 1.75 EPS for the current year.
Donegal Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.1925 per share. The ex-dividend date was Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 4.1%. Donegal Group's dividend payout ratio is currently 39.90%.
Analyst Ratings Changes
DGICA has been the subject of several research reports. Weiss Ratings upgraded Donegal Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their target price on Donegal Group from $18.00 to $20.00 and gave the company a "market perform" rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Donegal Group has a consensus rating of "Moderate Buy" and an average target price of $20.00.
Check Out Our Latest Analysis on DGICA
Institutional Trading of Donegal Group
Hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its stake in Donegal Group by 576.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider's stock valued at $55,000 after purchasing an additional 2,341 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 buying an additional 2,975 shares during the last quarter. IFP Advisors Inc raised its holdings in Donegal Group by 1,377.6% during the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider's stock worth $75,000 after buying an additional 3,513 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Donegal Group by 31.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider's stock valued at $75,000 after buying an additional 896 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Donegal Group by 443.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider's stock valued at $99,000 after buying an additional 4,022 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company's stock.
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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