Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The stock was acquired at an average cost of $18.95 per share, for a total transaction of $189,500.00. Following the transaction, the insider owned 14,243,714 shares in the company, valued at $269,918,380.30. This represents a 0.07% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Mutual Insurance Co Donegal also recently made the following trade(s):
- On Wednesday, August 26th, Mutual Insurance Co Donegal acquired 9,508 shares of Donegal Group stock. The shares were bought at an average cost of $19.11 per share, with a total value of $181,697.88.
- On Monday, August 24th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.06 per share, with a total value of $190,600.00.
- On Friday, August 21st, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were bought at an average cost of $18.68 per share, for a total transaction of $186,800.00.
- On Thursday, August 20th, Mutual Insurance Co Donegal purchased 9,815 shares of Donegal Group stock. The shares were bought at an average price of $18.66 per share, with a total value of $183,147.90.
- On Wednesday, August 19th, Mutual Insurance Co Donegal purchased 9,700 shares of Donegal Group stock. The stock was bought 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 acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $18.52 per share, for a total transaction of $185,200.00.
- On Thursday, August 6th, Mutual Insurance Co Donegal bought 18,000 shares of Donegal Group stock. The stock was purchased 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 bought 9,682 shares of Donegal Group stock. The stock was purchased at an average price of $17.62 per share, with a total value of $170,596.84.
- On Thursday, June 11th, Mutual Insurance Co Donegal purchased 9,900 shares of Donegal Group stock. The shares were purchased at an average cost of $17.56 per share, for a total transaction of $173,844.00.
- On Wednesday, June 3rd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average price of $16.62 per share, for a total transaction of $166,200.00.
Donegal Group Trading Down 0.6%
NASDAQ:DGICA opened at $19.12 on Tuesday. 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 firm has a market cap of $709.73 million, a price-to-earnings ratio of 9.91 and a beta of -0.01. Donegal Group, Inc. has a 52 week low of $16.11 and a 52 week high of $21.06. The firm has a 50-day moving average price of $18.90 and a two-hundred day moving average price of $17.90.
Donegal Group (NASDAQ:DGICA - Get Free Report) last released its earnings results on Thursday, July 30th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.11. The company had revenue of $241.12 million during the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. On average, equities analysts expect that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.
Donegal Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.1925 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. Donegal Group's dividend payout ratio (DPR) is currently 39.90%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in DGICA. Smartleaf Asset Management LLC grew its stake in shares of Donegal Group by 576.6% during the 4th 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 period. EverSource Wealth Advisors LLC raised its stake in Donegal Group by 422.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider's stock valued at $74,000 after acquiring an additional 2,975 shares during the period. IFP Advisors Inc raised its stake in Donegal Group by 1,377.6% in the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider's stock valued at $75,000 after acquiring an additional 3,513 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Donegal Group by 31.6% during the fourth 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. Finally, Tower Research Capital LLC TRC increased 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 worth $99,000 after purchasing an additional 4,022 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on DGICA shares. Weiss Ratings upgraded shares of Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday. Keefe, Bruyette & Woods increased their target price on shares of 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 research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $20.00.
Read Our Latest Stock Analysis 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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