Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 8,000 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $18.14 per share, for a total transaction of $145,120.00. Following the completion of the transaction, the insider now owns 13,334,382 shares in the company, valued at $241,885,689.48. This represents a 0.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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, March 12th, Mutual Insurance Co Donegal acquired 11,600 shares of Donegal Group stock. The shares were bought at an average price of $17.59 per share, for a total transaction of $204,044.00.
• On Monday, March 10th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The stock was bought at an average cost of $17.83 per share, with a total value of $267,450.00.
• On Friday, March 7th, Mutual Insurance Co Donegal purchased 14,608 shares of Donegal Group stock. The stock was purchased at an average price of $17.96 per share, with a total value of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The shares were purchased at an average price of $17.98 per share, for a total transaction of $269,700.00.
• On Monday, March 3rd, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The stock was purchased at an average price of $17.85 per share, with a total value of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal bought 14,700 shares of Donegal Group stock. The shares were acquired at an average cost of $17.06 per share, for a total transaction of $250,782.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal acquired 12,000 shares of Donegal Group stock. The shares were acquired at an average price of $16.49 per share, for a total transaction of $197,880.00.

Donegal Group Stock Performance

DGICA stock traded up $0.23 during midday trading on Monday, reaching $18.43. The company had a trading volume of 26,553 shares, compared to its average volume of 71,349. The firm has a market capitalization of $624.53 million, a PE ratio of 12.12 and a beta of -0.04. The stock has a 50 day moving average price of $15.67 and a 200 day moving average price of $15.51. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $19.37. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICA) last released its quarterly earnings results on Thursday, February 20th. The insurance provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.30 by $0.39. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. The business had revenue of $249.70 million during the quarter, compared to analyst estimates of $250.61 million. Analysts anticipate that Donegal Group Inc. will post 1.2 earnings per share for the current year.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.74%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 4th. Donegal Group’s dividend payout ratio (DPR) is 45.39%.

Institutional Investors Weigh In On Donegal Group

Several institutional investors have recently bought and sold shares of DGICA. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Donegal Group by 82.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock worth $1,551,000 after purchasing an additional 47,447 shares during the period. Foundry Partners LLC lifted its position in Donegal Group by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock worth $3,605,000 after buying an additional 2,310 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Donegal Group by 39.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock valued at $896,000 after buying an additional 17,125 shares during the period. Martingale Asset Management L P grew its holdings in shares of Donegal Group by 4.2% during the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after acquiring an additional 902 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Donegal Group by 38.7% in the third quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock worth $957,000 after acquiring an additional 18,132 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

Donegal Group Company Profile

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.