Mutual Insurance Co Donegal Acquires 11,600 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 11,600 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $17.59 per share, for a total transaction of $204,044.00. Following the purchase, the insider now directly owns 13,314,382 shares in the company, valued at $234,199,979.38. This represents a 0.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, March 10th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The shares were acquired at an average cost of $17.83 per share, for a total transaction of $267,450.00.
• On Friday, March 7th, Mutual Insurance Co Donegal bought 14,608 shares of Donegal Group stock. The shares were acquired at an average cost of $17.96 per share, for a total transaction of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The shares were acquired at an average cost 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 shares were acquired at an average cost of $17.85 per share, for a total transaction 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 purchased 12,000 shares of Donegal Group stock. The shares were purchased 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 purchased 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.

Donegal Group Stock Up 0.4 %

Shares of DGICA stock opened at $18.20 on Friday. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $18.26. The stock has a market cap of $616.91 million, a PE ratio of 11.97 and a beta of -0.04. The business’s fifty day moving average is $15.67 and its 200-day moving average is $15.50. 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 (NASDAQ:DGICA) last issued its quarterly earnings results 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 company had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $250.61 million. Equities analysts expect that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders 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 is a boost from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a dividend yield of 3.79%. Donegal Group’s dividend payout ratio (DPR) is 45.39%.

Hedge Funds Weigh In On Donegal Group

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Donegal Group by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,804,968 shares of the insurance provider’s stock worth $27,923,000 after acquiring an additional 27,213 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Donegal Group by 29.5% in the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock worth $6,638,000 after acquiring an additional 97,795 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Donegal Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock worth $5,371,000 after acquiring an additional 4,933 shares during the last quarter. Foundry Partners LLC grew its holdings in shares of 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 acquiring an additional 2,310 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Donegal Group by 124.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider’s stock worth $3,647,000 after acquiring an additional 130,489 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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.