Key Points
- Mutual Insurance Co Donegal purchased 13,469 Donegal Group shares at an average price of $19.13, spending approximately $257,662. Following the transaction, it owned 14.32 million shares, worth about $274 million.
- The purchase was part of a broader buying streak, with Mutual Insurance Co Donegal acquiring additional shares in multiple transactions since late August.
- Donegal Group reported quarterly earnings of $0.53 per share, exceeding estimates of $0.42, and maintains a quarterly dividend of $0.1925 per share, representing a 4.0% annualized yield. Analysts’ consensus rating remains “Hold”, with an average price target of $20.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) CAO David Bawel sold 8,326 shares of the firm's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $19.28, for a total value of $160,525.28. Following the sale, the chief accounting officer directly owned 22,331 shares in the company, valued at $430,541.68. This trade represents a 27.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Donegal Group Stock Performance
Shares of DGICA opened at $19.36 on Friday. The stock has a 50 day moving average price of $19.00 and a 200 day moving average price of $17.96. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 10.03 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.
Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.42 by $0.11. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The company had revenue of $241.12 million for the quarter, compared to analyst estimates of $231.53 million. Research analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.
Donegal Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.1925 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. Donegal Group's dividend payout ratio is presently 39.90%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on DGICA. Weiss Ratings upgraded shares of Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, August 28th. Keefe, Bruyette & Woods upped their price objective on shares of Donegal Group from $18.00 to $20.00 and gave the company a "market perform" rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $20.00.
Get Our Latest Stock Report on Donegal Group
Institutional Investors Weigh In On Donegal Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings 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 valued at $55,000 after acquiring an additional 2,341 shares during the period. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 2,975 shares during the last quarter. IFP Advisors Inc boosted its stake in Donegal Group by 1,377.6% during the 4th quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider's stock worth $75,000 after purchasing an additional 3,513 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in Donegal Group by 31.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider's stock worth $75,000 after purchasing an additional 896 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in 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 purchasing an additional 4,022 shares during the last quarter. Hedge funds and other institutional investors own 27.96% of the company's stock.
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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