Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires 3,637 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICAGet Rating) major shareholder Mutual Insurance Co Donegal bought 3,637 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The stock was acquired at an average price of $15.84 per share, for a total transaction of $57,610.08. Following the transaction, the insider now owns 10,713,908 shares in the company, valued at $169,708,302.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% 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 Tuesday, May 24th, Mutual Insurance Co Donegal bought 11,413 shares of Donegal Group stock. The stock was acquired at an average price of $15.83 per share, for a total transaction of $180,667.79.
  • On Sunday, May 22nd, Mutual Insurance Co Donegal bought 13,281 shares of Donegal Group stock. The stock was acquired at an average price of $15.56 per share, for a total transaction of $206,652.36.
  • On Wednesday, May 18th, Mutual Insurance Co Donegal bought 6,344 shares of Donegal Group stock. The stock was acquired at an average price of $15.51 per share, for a total transaction of $98,395.44.
  • On Monday, May 16th, Mutual Insurance Co Donegal purchased 6,480 shares of Donegal Group stock. The stock was purchased at an average cost of $15.32 per share, for a total transaction of $99,273.60.
  • On Friday, May 13th, Mutual Insurance Co Donegal purchased 10,895 shares of Donegal Group stock. The stock was purchased at an average cost of $15.02 per share, for a total transaction of $163,642.90.
  • On Wednesday, May 11th, Mutual Insurance Co Donegal purchased 7,941 shares of Donegal Group stock. The stock was purchased at an average cost of $14.84 per share, for a total transaction of $117,844.44.
  • On Monday, May 9th, Mutual Insurance Co Donegal purchased 7,059 shares of Donegal Group stock. The stock was purchased at an average cost of $14.58 per share, for a total transaction of $102,920.22.
  • On Thursday, May 5th, Mutual Insurance Co Donegal bought 61,785 shares of Donegal Group stock. The shares were bought at an average cost of $14.23 per share, for a total transaction of $879,200.55.
  • On Tuesday, May 3rd, Mutual Insurance Co Donegal purchased 8,537 shares of Donegal Group stock. The stock was bought at an average price of $13.66 per share, for a total transaction of $116,615.42.

Donegal Group stock traded down $0.10 during mid-day trading on Tuesday, reaching $15.89. 1,520 shares of the company’s stock were exchanged, compared to its average volume of 78,191. Donegal Group Inc. has a twelve month low of $13.09 and a twelve month high of $16.06. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.07. The company has a market cap of $499.26 million, a P/E ratio of 17.57 and a beta of 0.06. The company has a fifty day moving average of $14.15 and a 200-day moving average of $14.10.

Donegal Group (NASDAQ:DGICAGet Rating) last released its quarterly earnings data on Thursday, April 28th. The insurance provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.15. Donegal Group had a return on equity of 4.62% and a net margin of 3.37%. The business had revenue of $207.60 million for the quarter, compared to analyst estimates of $211.20 million. Equities research analysts expect that Donegal Group Inc. will post 0.9 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Monday, May 2nd were paid a $0.165 dividend. The ex-dividend date of this dividend was Friday, April 29th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.15%. This is a boost from Donegal Group’s previous quarterly dividend of $0.16. Donegal Group’s payout ratio is 72.53%.

A number of institutional investors have recently made changes to their positions in the stock. Morgan Stanley lifted its position in shares of Donegal Group by 497.6% in the 2nd quarter. Morgan Stanley now owns 33,165 shares of the insurance provider’s stock worth $484,000 after purchasing an additional 27,615 shares during the period. Barclays PLC increased its position in shares of Donegal Group by 11.7% during the third quarter. Barclays PLC now owns 39,904 shares of the insurance provider’s stock valued at $578,000 after buying an additional 4,184 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Donegal Group by 6.4% in the third quarter. Allianz Asset Management GmbH now owns 24,583 shares of the insurance provider’s stock worth $356,000 after purchasing an additional 1,469 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Donegal Group by 85.8% in the third quarter. Goldman Sachs Group Inc. now owns 151,589 shares of the insurance provider’s stock worth $2,196,000 after acquiring an additional 70,009 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Donegal Group by 2.2% in the third quarter. Geode Capital Management LLC now owns 255,399 shares of the insurance provider’s stock worth $3,700,000 after acquiring an additional 5,436 shares during the period. 30.02% of the stock is currently owned by institutional investors and hedge funds.

Separately, StockNews.com upgraded Donegal Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 28th.

About Donegal Group (Get Rating)

Donegal Group Inc, an insurance holding company, provides personal and commercial lines of 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.

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