Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires 15,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 15,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $17.85 per share, for a total transaction of $267,750.00. Following the completion of the purchase, the insider now directly owns 13,219,273 shares of the company’s stock, valued at approximately $235,964,023.05. This trade represents a 0.11 % 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 more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, February 27th, Mutual Insurance Co Donegal bought 14,700 shares of Donegal Group stock. The shares were purchased at an average price of $17.06 per share, for a total transaction of $250,782.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal purchased 12,000 shares of Donegal Group stock. The stock was acquired at an average cost of $16.49 per share, with a total value of $197,880.00.
• On Friday, December 13th, Mutual Insurance Co Donegal acquired 7,817 shares of Donegal Group stock. The stock was purchased at an average cost of $16.29 per share, with a total value of $127,338.93.
• On Wednesday, December 11th, Mutual Insurance Co Donegal purchased 8,729 shares of Donegal Group stock. The shares were bought at an average price of $16.37 per share, with a total value of $142,893.73.
• On Monday, December 9th, Mutual Insurance Co Donegal acquired 70,000 shares of Donegal Group stock. The stock was acquired at an average price of $16.61 per share, with a total value of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal acquired 270,000 shares of Donegal Group stock. The shares were bought at an average cost of $16.66 per share, for a total transaction of $4,498,200.00.

Donegal Group Price Performance

Shares of DGICA traded up $0.18 during trading hours on Wednesday, reaching $17.99. 41,364 shares of the company traded hands, compared to its average volume of 71,037. The stock has a fifty day simple moving average of $15.27 and a 200 day simple moving average of $15.34. 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 Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $18.19. The stock has a market capitalization of $609.62 million, a PE ratio of 11.83 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last announced its earnings results on Thursday, February 20th. The insurance provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.30 by $0.39. The business had revenue of $249.70 million for the quarter, compared to the consensus estimate of $250.61 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. As a group, research analysts predict that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were given a dividend of $0.1725 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.69 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s payout ratio is currently 45.39%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Donegal Group by 124.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider’s stock worth $3,647,000 after purchasing an additional 130,489 shares during the period. Renaissance Technologies LLC raised its position in shares of Donegal Group by 29.5% during the fourth quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock worth $6,638,000 after purchasing an additional 97,795 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Donegal Group by 351.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider’s stock worth $1,670,000 after purchasing an additional 84,029 shares during the period. Millennium Management LLC raised its position in Donegal Group by 170.8% during the fourth quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider’s stock valued at $1,598,000 after buying an additional 65,146 shares during the period. Finally, Teacher Retirement System of Texas raised its position in Donegal Group by 137.8% during the fourth quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider’s stock valued at $1,615,000 after buying an additional 60,491 shares during the period. Institutional investors and hedge funds own 27.96% of the company’s stock.

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.