Mutual Insurance Co Donegal Buys 15,000 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 15,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was bought at an average price of $17.83 per share, for a total transaction of $267,450.00. Following the completion of the transaction, the insider now directly owns 13,290,682 shares in the company, valued at approximately $236,972,860.06. The trade was a 0.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 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 Friday, March 7th, Mutual Insurance Co Donegal purchased 14,608 shares of Donegal Group stock. The stock was bought at an average price of $17.96 per share, for a total transaction of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal purchased 15,000 shares of Donegal Group stock. The stock was bought at an average price 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 stock was bought 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 purchased 14,700 shares of Donegal Group stock. The stock was bought at an average price 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 stock was bought 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 stock was bought at an average price of $16.29 per share, for a total transaction of $127,338.93.
• On Wednesday, December 11th, Mutual Insurance Co Donegal acquired 8,729 shares of Donegal Group stock. The shares were acquired at an average cost of $16.37 per share, with a total value of $142,893.73.

Donegal Group Price Performance

NASDAQ:DGICA opened at $17.71 on Thursday. The company has a 50-day moving average of $15.55 and a 200-day moving average of $15.46. The company has a market capitalization of $600.30 million, a price-to-earnings ratio of 11.65 and a beta of -0.04. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $18.19. 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 released its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.39. The company 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, equities research analysts anticipate that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.90%. 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%.

Hedge Funds Weigh In On Donegal Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings in Donegal Group by 3.0% during the 4th quarter. Bank of America Corp DE now owns 29,572 shares of the insurance provider’s stock valued at $457,000 after purchasing an additional 871 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Donegal Group by 0.4% during the 4th quarter. Wells Fargo & Company MN now owns 223,593 shares of the insurance provider’s stock valued at $3,459,000 after purchasing an additional 897 shares during the last quarter. Martingale Asset Management L P lifted its holdings in Donegal Group by 4.2% during the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after purchasing an additional 902 shares during the last quarter. Corton Capital Inc. lifted its holdings in Donegal Group by 7.4% during the 4th quarter. Corton Capital Inc. now owns 16,101 shares of the insurance provider’s stock valued at $249,000 after purchasing an additional 1,108 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Donegal Group by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,492 shares of the insurance provider’s stock valued at $688,000 after purchasing an additional 1,773 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

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.