Key Points
- Mutual Insurance Co Donegal bought 25,500 DGICA shares at an average $18.86 each, spending about $480,930; its stake rose to 14.43 million shares.
- Donegal Group beat quarterly estimates, reporting EPS of $0.50 versus $0.44 expected and revenue of $237.66 million versus $214.12 million expected.
- The company declared a quarterly dividend of $0.1925 per share, equivalent to a 4.1% yield; analysts’ consensus rating was Hold, with a $20 price target.
Donegal Group, Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 7,500 shares of the company's stock in a transaction dated Friday, November 6th. The shares were bought at an average cost of $18.74 per share, for a total transaction of $140,550.00. Following the completion of the acquisition, the insider directly owned 14,435,128 shares of the company's stock, valued at approximately $270,514,298.72. The trade was a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Thursday, November 5th, Mutual Insurance Co Donegal acquired 25,500 shares of Donegal Group stock. The stock was purchased at an average price of $18.86 per share, with a total value of $480,930.00.
- On Tuesday, November 3rd, Mutual Insurance Co Donegal purchased 7,500 shares of Donegal Group stock. The stock was acquired at an average price of $18.69 per share, for a total transaction of $140,175.00.
- On Friday, September 11th, Mutual Insurance Co Donegal bought 54,725 shares of Donegal Group stock. The shares were acquired at an average cost of $19.23 per share, with a total value of $1,052,361.75.
- On Wednesday, September 9th, Mutual Insurance Co Donegal acquired 13,469 shares of Donegal Group stock. The stock was bought at an average cost of $19.13 per share, with a total value of $257,661.97.
- On Thursday, September 10th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was bought at an average price of $19.13 per share, for a total transaction of $191,300.00.
- On Tuesday, September 8th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $19.14 per share, for a total transaction of $191,400.00.
- On Friday, September 4th, Mutual Insurance Co Donegal bought 6,368 shares of Donegal Group stock. The shares were acquired at an average price of $19.39 per share, for a total transaction of $123,475.52.
- On Thursday, September 3rd, Mutual Insurance Co Donegal acquired 9,595 shares of Donegal Group stock. The stock was acquired at an average cost of $19.53 per share, for a total transaction of $187,390.35.
- On Wednesday, September 2nd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was bought at an average cost of $19.43 per share, for a total transaction of $194,300.00.
- On Tuesday, September 1st, Mutual Insurance Co Donegal bought 9,257 shares of Donegal Group stock. The shares were bought at an average cost of $19.17 per share, with a total value of $177,456.69.
Donegal Group Price Performance
Shares of Donegal Group stock opened at $18.73 on Tuesday. The business has a 50 day simple moving average of $18.69 and a two-hundred day simple moving average of $18.14. Donegal Group, Inc. has a 12 month low of $16.11 and a 12 month high of $21.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $695.26 million, a P/E ratio of 10.02 and a beta of -0.03.
Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its earnings results on Thursday, October 29th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. Donegal Group had a net margin of 7.24% and a return on equity of 10.49%. The company had revenue of $237.66 million for the quarter, compared to analysts' expectations of $214.12 million. As a group, analysts predict that Donegal Group, Inc. will post 1.75 EPS for the current fiscal year.
Donegal Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a $0.1925 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.1%. Donegal Group's dividend payout ratio (DPR) is 41.18%.
Analyst Ratings Changes
DGICA has been the subject of a number of research analyst reports. Weiss Ratings upgraded Donegal Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 28th. Zacks Research upgraded shares of Donegal Group from a "strong sell" rating to a "hold" rating in a research report on Friday, October 16th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Donegal Group presently has a consensus rating of "Hold" and an average target price of $20.00.
Check Out Our Latest Stock Analysis on Donegal Group
Institutional Trading of Donegal Group
Several institutional investors and hedge funds have recently modified their holdings of DGICA. Virtus Advisers LLC grew its position in shares of Donegal Group by 16.8% in the third quarter. Virtus Advisers LLC now owns 9,866 shares of the insurance provider's stock valued at $176,000 after purchasing an additional 1,417 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Donegal Group by 68.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 22,747 shares of the insurance provider's stock worth $405,000 after purchasing an additional 9,266 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Donegal Group by 6.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 21,290 shares of the insurance provider's stock worth $379,000 after purchasing an additional 1,336 shares during the last quarter. State of Wyoming purchased a new stake in Donegal Group in the 3rd quarter valued at approximately $177,000. Finally, Pinnacle Associates Ltd. lifted its stake in Donegal Group by 3.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 96,138 shares of the insurance provider's stock valued at $1,710,000 after buying an additional 3,264 shares in 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 is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its offerings include personal lines such as automobile and homeowners insurance, as well as commercial coverage for businesses, including commercial automobile, workers' compensation and package policies.
The company distributes its products primarily through independent insurance agencies. Its operations serve customers in the Mid-Atlantic region and other parts of the eastern, southern and Midwestern United States.
Donegal Group was organized in 1986 as a publicly traded affiliate of Donegal Mutual Insurance Company, whose roots date to the late 19th century.
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