Mutual Insurance Co Donegal Buys 8,951 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,951 shares of the company’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $13.50 per share, for a total transaction of $120,838.50. Following the completion of the purchase, the insider now directly owns 12,123,065 shares of the company’s stock, valued at approximately $163,661,377.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more 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 Tuesday, July 30th, Mutual Insurance Co Donegal bought 9,024 shares of Donegal Group stock. The stock was acquired at an average price of $14.96 per share, for a total transaction of $134,999.04.

Donegal Group Stock Up 1.2 %

NASDAQ DGICA traded up $0.16 on Wednesday, reaching $14.07. The company had a trading volume of 14,213 shares, compared to its average volume of 56,422. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average is $13.34 and its 200 day moving average is $13.70. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $15.30. The stock has a market capitalization of $469.80 million, a P/E ratio of 86.94 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, July 25th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. Donegal Group had a net margin of 0.76% and a return on equity of 0.90%. The firm had revenue of $246.77 million during the quarter, compared to analyst estimates of $243.00 million. Sell-side analysts anticipate that Donegal Group Inc. will post 0.35 earnings per share for the current fiscal year.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.172 per share. The ex-dividend date is Thursday, August 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.89%. Donegal Group’s dividend payout ratio is currently 431.25%.

Hedge Funds Weigh In On Donegal Group

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Donegal Group by 34.7% during the first quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock valued at $16,728,000 after buying an additional 304,477 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Donegal Group by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,825,664 shares of the insurance provider’s stock valued at $25,541,000 after acquiring an additional 53,632 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Donegal Group during the 1st quarter valued at approximately $293,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Donegal Group by 30.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock worth $1,072,000 after purchasing an additional 17,614 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Donegal Group in the 1st quarter worth approximately $137,000. 27.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded Donegal Group from a “hold” rating to a “buy” rating in a research note on Friday, April 26th.

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.