Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases $92,116.70 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 6,005 shares of Donegal Group stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $15.34 per share, with a total value of $92,116.70. Following the completion of the acquisition, the insider now directly owns 12,351,934 shares of the company’s stock, valued at approximately $189,478,667.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large 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, September 11th, Mutual Insurance Co Donegal acquired 8,390 shares of Donegal Group stock. The shares were bought at an average cost of $15.00 per share, with a total value of $125,850.00.
• On Monday, September 9th, Mutual Insurance Co Donegal bought 5,865 shares of Donegal Group stock. The stock was bought at an average price of $15.33 per share, for a total transaction of $89,910.45.
• On Thursday, September 5th, Mutual Insurance Co Donegal purchased 4,889 shares of Donegal Group stock. The shares were bought at an average price of $15.32 per share, with a total value of $74,899.48.
• On Tuesday, September 3rd, Mutual Insurance Co Donegal acquired 9,452 shares of Donegal Group stock. The stock was purchased at an average price of $15.24 per share, for a total transaction of $144,048.48.
• On Friday, August 30th, Mutual Insurance Co Donegal acquired 8,028 shares of Donegal Group stock. The shares were purchased at an average price of $15.20 per share, with a total value of $122,025.60.
• On Wednesday, August 28th, Mutual Insurance Co Donegal purchased 6,000 shares of Donegal Group stock. The shares were purchased at an average price of $15.02 per share, for a total transaction of $90,120.00.
• On Monday, August 26th, Mutual Insurance Co Donegal acquired 9,996 shares of Donegal Group stock. The stock was purchased at an average price of $14.97 per share, with a total value of $149,640.12.
• On Friday, August 23rd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $14.93 per share, for a total transaction of $149,300.00.
• On Wednesday, August 21st, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $14.76 per share, with a total value of $125,460.00.
• On Monday, August 19th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $14.75 per share, with a total value of $147,500.00.

Donegal Group Price Performance

Shares of NASDAQ DGICA opened at $15.25 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.39. Donegal Group Inc. has a one year low of $12.26 and a one year high of $15.45. The firm has a market capitalization of $509.24 million, a P/E ratio of 95.31 and a beta of -0.05. The company’s fifty day moving average is $14.60 and its two-hundred day moving average is $13.78.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The company had revenue of $246.77 million during the quarter, compared to the consensus estimate of $243.00 million. Donegal Group had a net margin of 0.76% and a return on equity of 0.89%. Analysts forecast that Donegal Group Inc. will post 0.45 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a dividend of $0.172 per share. The ex-dividend date was Thursday, August 1st. This represents a $0.69 dividend on an annualized basis and a yield of 4.51%. Donegal Group’s payout ratio is 431.25%.

Institutional Trading of Donegal Group

Large investors have recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of Donegal Group in the 2nd quarter worth about $27,000. EntryPoint Capital LLC acquired a new position in Donegal Group during the first quarter worth about $137,000. BNP Paribas Financial Markets lifted its holdings in shares of Donegal Group by 125.0% in the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock valued at $147,000 after purchasing an additional 5,757 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Donegal Group in the first quarter valued at approximately $293,000. Finally, Hsbc Holdings PLC grew its holdings in Donegal Group by 7.8% during the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock valued at $389,000 after buying an additional 2,250 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

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.