Mutual Insurance Co Donegal Purchases 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 stock in a transaction on Wednesday, March 12th. The stock was bought at an average price of $17.59 per share, for a total transaction of $204,044.00. Following the completion of the purchase, the insider now directly owns 13,314,382 shares in the company, valued at approximately $234,199,979.38. The trade was a 0.09 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 Monday, March 10th, Mutual Insurance Co Donegal purchased 15,000 shares of Donegal Group stock. The shares were bought 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 purchased at an average price of $17.96 per share, with a total value of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The stock was purchased 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 purchased 15,000 shares of Donegal Group stock. The shares were purchased at an average cost of $17.85 per share, with a total value of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal acquired 14,700 shares of Donegal Group stock. The stock was 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 bought 12,000 shares of Donegal Group stock. The shares were 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 purchased 7,817 shares of Donegal Group stock. The stock was acquired at an average price of $16.29 per share, for a total transaction of $127,338.93.

Donegal Group Trading Up 0.4 %

NASDAQ:DGICA 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 company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a fifty day moving average price of $15.67 and a two-hundred day moving average price of $15.51. The stock has a market capitalization of $616.91 million, a price-to-earnings ratio of 11.97 and a beta of -0.04.

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

Donegal Group Increases Dividend

The business 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. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.79%. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 4th. Donegal Group’s dividend payout ratio (DPR) is presently 45.39%.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors and hedge funds have recently modified their holdings of DGICA. KLP Kapitalforvaltning AS purchased a new stake in shares of Donegal Group in the 4th quarter worth about $68,000. SG Americas Securities LLC acquired a new position in Donegal Group during the fourth quarter worth about $128,000. BNP Paribas Financial Markets lifted its holdings in shares of Donegal Group by 117.2% in the fourth quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock valued at $130,000 after purchasing an additional 4,544 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Donegal Group in the fourth quarter valued at about $162,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Donegal Group in the fourth quarter valued at approximately $177,000. 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.