Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 11,600 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 11,600 shares of Donegal Group stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $17.59 per share, for a total transaction of $204,044.00. Following the purchase, the insider now owns 13,314,382 shares in the company, valued at approximately $234,199,979.38. The trade was a 0.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Monday, March 10th, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The shares were bought at an average price of $17.83 per share, for a total transaction of $267,450.00.
• On Friday, March 7th, Mutual Insurance Co Donegal bought 14,608 shares of Donegal Group stock. The stock was bought at an average price of $17.96 per share, with a total value of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The shares were purchased at an average cost of $17.98 per share, with a total value of $269,700.00.
• On Monday, March 3rd, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The shares were purchased 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 acquired 14,700 shares of Donegal Group stock. The stock was purchased at an average cost of $17.06 per share, for a total transaction of $250,782.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal bought 12,000 shares of Donegal Group stock. The shares were acquired at an average price of $16.49 per share, with a total value of $197,880.00.
• On Friday, December 13th, Mutual Insurance Co Donegal purchased 7,817 shares of Donegal Group stock. The stock was acquired at an average price of $16.29 per share, for a total transaction of $127,338.93.

Donegal Group Price Performance

DGICA opened at $18.13 on Friday. The business has a fifty day moving average of $15.61 and a 200 day moving average of $15.48. The stock has a market cap of $614.53 million, a P/E ratio of 11.93 and a beta of -0.04. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $18.25.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, February 20th. The insurance provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.39. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. The firm had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $250.61 million. As a group, sell-side analysts anticipate that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were paid a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Tuesday, February 4th. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s payout ratio is currently 45.39%.

Institutional Trading of Donegal Group

A number of large investors have recently modified their holdings of DGICA. Connor Clark & Lunn Investment Management Ltd. raised its position in Donegal Group by 124.0% during 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 purchasing an additional 130,489 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Donegal Group by 29.5% during the fourth 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 during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Donegal Group by 351.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider’s stock valued at $1,670,000 after acquiring an additional 84,029 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Donegal Group by 170.8% in the fourth quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider’s stock valued at $1,598,000 after acquiring an additional 65,146 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Donegal Group by 137.8% in the fourth quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider’s stock worth $1,615,000 after acquiring an additional 60,491 shares during the period. Hedge funds and other institutional investors own 27.96% of the company’s stock.

About Donegal Group

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.