Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 3,848 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 3,848 shares of the stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $14.13 per share, with a total value of $54,372.24. Following the completion of the transaction, the insider now owns 12,143,459 shares of the company’s stock, valued at $171,587,075.67. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Wednesday, August 14th, Mutual Insurance Co Donegal bought 8,800 shares of Donegal Group stock. The shares were purchased at an average cost of $14.56 per share, for a total transaction of $128,128.00.
• On Monday, August 12th, Mutual Insurance Co Donegal bought 4,956 shares of Donegal Group stock. The stock was purchased at an average cost of $14.15 per share, with a total value of $70,127.40.
• On Wednesday, August 7th, Mutual Insurance Co Donegal purchased 6,933 shares of Donegal Group stock. The shares were acquired at an average cost of $14.13 per share, for a total transaction of $97,963.29.
• On Monday, August 5th, Mutual Insurance Co Donegal purchased 8,951 shares of Donegal Group stock. The shares were acquired at an average cost of $13.50 per share, for a total transaction of $120,838.50.
• On Tuesday, July 30th, Mutual Insurance Co Donegal purchased 9,024 shares of Donegal Group stock. The shares were acquired at an average cost of $14.96 per share, for a total transaction of $134,999.04.

Donegal Group Stock Up 0.1 %

Shares of DGICA opened at $14.69 on Friday. The stock has a market capitalization of $490.54 million, a PE ratio of 91.81 and a beta of -0.05. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $15.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.39. The company’s 50-day simple moving average is $13.51 and its 200-day simple moving average is $13.69.

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

Donegal Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date was Thursday, August 1st. Donegal Group’s dividend payout ratio (DPR) is 431.25%.

Hedge Funds Weigh In On Donegal Group

Several hedge funds have recently added to or reduced their stakes in DGICA. CWM LLC grew its holdings in shares of 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 purchasing an additional 1,133 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Donegal Group in the 2nd quarter valued at about $27,000. SG Americas Securities LLC purchased a new position in Donegal Group during the 4th quarter worth approximately $124,000. EntryPoint Capital LLC acquired a new position in Donegal Group during the first quarter worth approximately $137,000. Finally, BNP Paribas Financial Markets lifted its stake in Donegal Group by 125.0% in the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock valued at $147,000 after buying an additional 5,757 shares during the last quarter. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of 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.