Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Buys $134,999.04 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 9,024 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was acquired at an average cost of $14.96 per share, for a total transaction of $134,999.04. Following the completion of the acquisition, the insider now owns 12,104,114 shares of the company’s stock, valued at approximately $181,077,545.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Donegal Group Stock Down 0.9 %

Shares of NASDAQ DGICA opened at $13.88 on Friday. The firm has a market cap of $463.45 million, a price-to-earnings ratio of 86.75 and a beta of -0.05. The company’s 50-day simple moving average is $13.31 and its 200-day simple moving average is $13.70. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $15.30.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The firm had revenue of $246.77 million during the quarter, compared to analysts’ expectations of $243.00 million. Donegal Group had a return on equity of 0.90% and a net margin of 0.76%. Equities analysts predict that Donegal Group Inc. will post 0.35 EPS for the current fiscal year.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a $0.172 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.96%. The ex-dividend date is Thursday, August 1st. Donegal Group’s dividend payout ratio is currently 431.25%.

Hedge Funds Weigh In On Donegal Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC boosted its stake in Donegal Group by 170.9% during the fourth quarter. CWM LLC now owns 1,796 shares of the insurance provider’s stock worth $25,000 after buying an additional 1,133 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Donegal Group during the 2nd quarter valued at about $27,000. SG Americas Securities LLC purchased a new stake in shares of Donegal Group in the fourth quarter valued at about $124,000. EntryPoint Capital LLC acquired a new stake in Donegal Group during the first quarter worth about $137,000. Finally, BNP Paribas Financial Markets increased its position in Donegal Group by 125.0% during the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after purchasing an additional 5,757 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Donegal Group from a “hold” rating to a “buy” rating in a research report on Friday, April 26th.

About Donegal Group

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.