Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases $267,450.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $17.83 per share, for a total transaction of $267,450.00. Following the completion of the purchase, the insider now owns 13,290,682 shares of the company’s stock, valued at approximately $236,972,860.06. This represents a 0.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Wednesday, March 12th, Mutual Insurance Co Donegal purchased 11,600 shares of Donegal Group stock. The stock was acquired at an average price of $17.59 per share, for a total transaction of $204,044.00.
• On Friday, March 7th, Mutual Insurance Co Donegal purchased 14,608 shares of Donegal Group stock. The stock was acquired at an average price of $17.96 per share, for a total transaction of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal purchased 15,000 shares of Donegal Group stock. The stock was acquired 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 purchased 15,000 shares of Donegal Group stock. The stock was acquired at an average price of $17.85 per share, for a total transaction of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal purchased 14,700 shares of Donegal Group stock. The stock was acquired 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 price of $16.49 per share, for a total transaction of $197,880.00.
• On Friday, December 13th, Mutual Insurance Co Donegal bought 7,817 shares of Donegal Group stock. The shares were purchased at an average price of $16.29 per share, for a total transaction of $127,338.93.
• On Wednesday, December 11th, Mutual Insurance Co Donegal bought 8,729 shares of Donegal Group stock. The shares were purchased at an average price of $16.37 per share, for a total transaction of $142,893.73.

Donegal Group Stock Up 2.4 %

DGICA opened at $18.13 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. Donegal Group Inc. has a one year low of $12.26 and a one year high of $18.25. The business’s fifty day moving average is $15.61 and its two-hundred day moving average is $15.48. The company has a market cap of $614.53 million, a price-to-earnings ratio of 11.93 and a beta of -0.04.

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

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were paid a $0.1725 dividend. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 3.81%. The ex-dividend date was Tuesday, February 4th. Donegal Group’s dividend payout ratio is presently 45.39%.

Hedge Funds Weigh In On Donegal Group

Several institutional investors have recently added to or reduced their stakes in DGICA. KLP Kapitalforvaltning AS acquired a new stake in Donegal Group during the fourth quarter worth about $68,000. SG Americas Securities LLC acquired a new stake in Donegal Group during the fourth quarter worth about $128,000. BNP Paribas Financial Markets increased its stake in Donegal Group by 117.2% during the fourth quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock worth $130,000 after acquiring an additional 4,544 shares during the last quarter. XTX Topco Ltd acquired a new stake in Donegal Group during the fourth quarter worth about $162,000. Finally, Private Advisor Group LLC acquired a new stake in Donegal Group during the fourth quarter worth about $177,000. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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.