Mutual Insurance Co Donegal Buys 8,000 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,000 shares of the stock in a transaction dated Friday, March 14th. The stock was acquired at an average price of $18.14 per share, for a total transaction of $145,120.00. Following the purchase, the insider now directly owns 13,334,382 shares in the company, valued at approximately $241,885,689.48. This trade represents a 0.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 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 Wednesday, March 12th, Mutual Insurance Co Donegal acquired 11,600 shares of Donegal Group stock. The shares were bought at an average price of $17.59 per share, with a total value of $204,044.00.
• On Monday, March 10th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The stock was purchased at an average cost of $17.83 per share, with a total value of $267,450.00.
• On Friday, March 7th, Mutual Insurance Co Donegal acquired 14,608 shares of Donegal Group stock. The shares were bought at an average cost of $17.96 per share, with a total value of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The shares were bought at an average cost of $17.98 per share, with a total value 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 price of $17.85 per share, for a total transaction of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal acquired 14,700 shares of Donegal Group stock. The stock was purchased 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 bought 12,000 shares of Donegal Group stock. The stock was bought at an average price of $16.49 per share, for a total transaction of $197,880.00.

Donegal Group Price Performance

Shares of DGICA stock opened at $18.45 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market capitalization of $625.38 million, a P/E ratio of 12.14 and a beta of -0.04. The company’s 50-day simple moving average is $15.82 and its two-hundred day simple moving average is $15.56. Donegal Group Inc. has a one year low of $12.26 and a one year high of $18.90.

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 net margin of 5.14% and a return on equity of 9.50%. The company had revenue of $249.70 million for the quarter, compared to analyst estimates of $250.61 million. As a group, equities analysts anticipate that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were issued 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 3.74%. The ex-dividend date was Tuesday, February 4th. Donegal Group’s payout ratio is currently 45.39%.

Hedge Funds Weigh In On Donegal Group

Several institutional investors and hedge funds have recently bought and sold shares of DGICA. KLP Kapitalforvaltning AS acquired a new stake in shares of Donegal Group during the fourth quarter worth $68,000. SG Americas Securities LLC acquired a new stake in shares of Donegal Group during the fourth quarter worth $128,000. BNP Paribas Financial Markets lifted its stake in shares of 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 buying an additional 4,544 shares during the period. XTX Topco Ltd acquired a new stake in shares of Donegal Group during the fourth quarter worth $162,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Donegal Group during the fourth quarter worth $173,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.