Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 15,000 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $17.85 per share, for a total transaction of $267,750.00. Following the completion of the acquisition, the insider now owns 13,219,273 shares of the company’s stock, valued at $235,964,023.05. This trade represents a 0.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major 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, March 5th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The shares were bought at an average cost of $17.98 per share, with a total value of $269,700.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal bought 14,700 shares of Donegal Group stock. The shares were bought at an average cost of $17.06 per share, with a total value of $250,782.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal bought 12,000 shares of Donegal Group stock. The shares were bought 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 bought 7,817 shares of Donegal Group stock. The shares were bought at an average cost of $16.29 per share, with a total value of $127,338.93.
• On Wednesday, December 11th, Mutual Insurance Co Donegal bought 8,729 shares of Donegal Group stock. The shares were bought at an average cost of $16.37 per share, with a total value of $142,893.73.
• On Monday, December 9th, Mutual Insurance Co Donegal acquired 70,000 shares of Donegal Group stock. The stock was acquired at an average price of $16.61 per share, with a total value of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal acquired 270,000 shares of Donegal Group stock. The stock was acquired at an average price of $16.66 per share, with a total value of $4,498,200.00.

Donegal Group Price Performance

Shares of Donegal Group stock opened at $17.90 on Friday. Donegal Group Inc. has a twelve month low of $12.26 and a twelve month high of $18.19. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $15.42 and a two-hundred day simple moving average of $15.39. The stock has a market capitalization of $606.74 million, a price-to-earnings ratio of 11.78 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.39. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. The business had revenue of $249.70 million during the quarter, compared to analysts’ expectations of $250.61 million. Analysts forecast that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were paid a $0.1725 dividend. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.69 annualized dividend and a yield of 3.85%. Donegal Group’s payout ratio is 45.39%.

Hedge Funds Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Donegal Group by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,804,968 shares of the insurance provider’s stock valued at $27,923,000 after buying an additional 27,213 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Donegal Group by 29.5% in the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock valued at $6,638,000 after buying an additional 97,795 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Donegal Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock valued at $5,371,000 after buying an additional 4,933 shares in the last quarter. Foundry Partners LLC raised its position in shares of Donegal Group by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock valued at $3,605,000 after buying an additional 2,310 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Donegal Group by 124.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider’s stock valued at $3,647,000 after buying an additional 130,489 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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.