Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases $74,899.48 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 4,889 shares of Donegal Group stock in a transaction that occurred on Thursday, September 5th. The shares were bought at an average cost of $15.32 per share, with a total value of $74,899.48. Following the transaction, the insider now owns 12,283,760 shares in the company, valued at $188,187,203.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Monday, September 9th, Mutual Insurance Co Donegal purchased 5,865 shares of Donegal Group stock. The shares were bought at an average price of $15.33 per share, with a total value of $89,910.45.
• On Tuesday, September 3rd, Mutual Insurance Co Donegal purchased 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 bought 6,000 shares of Donegal Group stock. The stock was 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 purchased 9,996 shares of Donegal Group stock. The shares were purchased at an average cost of $14.97 per share, with a total value of $149,640.12.
• On Friday, August 23rd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $14.93 per share, for a total transaction of $149,300.00.
• On Wednesday, August 21st, Mutual Insurance Co Donegal bought 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 purchased 10,000 shares of Donegal Group stock. The shares were acquired at an average cost of $14.75 per share, for a total transaction of $147,500.00.
• On Friday, August 16th, Mutual Insurance Co Donegal acquired 9,800 shares of Donegal Group stock. The stock was acquired at an average price of $14.78 per share, with a total value of $144,844.00.
• On Wednesday, August 14th, Mutual Insurance Co Donegal bought 8,800 shares of Donegal Group stock. The stock was acquired at an average cost of $14.56 per share, with a total value of $128,128.00.

Donegal Group Stock Performance

Shares of DGICA stock opened at $15.03 on Thursday. 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 has a 50 day moving average price of $14.35 and a 200-day moving average price of $13.74. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $15.39. The firm has a market capitalization of $501.90 million, a PE ratio of 93.94 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 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The business 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%. As a group, equities research analysts expect that Donegal Group Inc. will post 0.45 earnings per share for the current year.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.172 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date was Thursday, August 1st. Donegal Group’s dividend payout ratio (DPR) is presently 431.25%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DGICA. CWM LLC raised its position in Donegal Group by 170.9% in the fourth quarter. CWM LLC now owns 1,796 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 1,133 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Donegal Group by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,825,664 shares of the insurance provider’s stock worth $25,541,000 after purchasing an additional 53,632 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Donegal Group in the 1st quarter worth $293,000. BNP Paribas Financial Markets lifted its position in Donegal Group by 125.0% during 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. Finally, Empowered Funds LLC grew its holdings in Donegal Group by 8.2% during the first quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock valued at $1,573,000 after purchasing an additional 8,400 shares during the period. 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.