Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Buys 8,028 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,028 shares of the stock in a transaction on Friday, August 30th. The shares were purchased at an average price of $15.20 per share, for a total transaction of $122,025.60. Following the completion of the transaction, the insider now owns 12,260,719 shares in the company, valued at approximately $186,362,928.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, August 28th, Mutual Insurance Co Donegal bought 6,000 shares of Donegal Group stock. The stock was acquired at an average cost of $15.02 per share, with a total value of $90,120.00.
• On Monday, August 26th, Mutual Insurance Co Donegal purchased 9,996 shares of Donegal Group stock. The shares were acquired at an average cost of $14.97 per share, for a total transaction of $149,640.12.
• On Friday, August 23rd, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were acquired at an average price of $14.93 per share, with a total value 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 price of $14.76 per share, for a total transaction of $125,460.00.
• On Monday, August 19th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average price of $14.75 per share, with a total value of $147,500.00.
• On Friday, August 16th, Mutual Insurance Co Donegal acquired 9,800 shares of Donegal Group stock. The stock was bought at an average price of $14.78 per share, for a total transaction of $144,844.00.
• On Wednesday, August 14th, Mutual Insurance Co Donegal bought 8,800 shares of Donegal Group stock. The shares were bought at an average cost of $14.56 per share, with a total value of $128,128.00.
• On Monday, August 12th, Mutual Insurance Co Donegal purchased 4,956 shares of Donegal Group stock. The stock was bought at an average cost of $14.15 per share, for a total transaction of $70,127.40.
• On Friday, August 9th, Mutual Insurance Co Donegal acquired 3,848 shares of Donegal Group stock. The shares were purchased at an average cost of $14.13 per share, with a total value of $54,372.24.
• On Wednesday, August 7th, Mutual Insurance Co Donegal bought 6,933 shares of Donegal Group stock. The stock was purchased at an average cost of $14.13 per share, for a total transaction of $97,963.29.

Donegal Group Trading Up 0.5 %

Shares of NASDAQ DGICA opened at $15.29 on Wednesday. The business has a 50 day simple moving average of $14.06 and a 200 day simple moving average of $13.70. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $15.36. The stock has a market cap of $511.91 million, a price-to-earnings ratio of 95.56 and a beta of -0.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, July 25th. The insurance provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The company 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%. On average, research analysts predict that Donegal Group Inc. will post 0.45 earnings per share for the current fiscal year.

Donegal Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.172 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $0.69 annualized dividend and a yield of 4.50%. Donegal Group’s dividend payout ratio (DPR) is currently 431.25%.

Institutional Trading of Donegal Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Donegal Group by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,825,664 shares of the insurance provider’s stock worth $25,541,000 after buying an additional 53,632 shares during the last quarter. Vanguard Group Inc. raised its holdings in Donegal Group by 34.7% in the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after acquiring an additional 304,477 shares during the period. Bank of New York Mellon Corp lifted its position in Donegal Group by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock worth $1,669,000 after acquiring an additional 5,416 shares during the last quarter. Empowered Funds LLC boosted 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 acquiring an additional 8,400 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Donegal Group by 30.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock valued at $1,072,000 after acquiring an additional 17,614 shares during the period. Institutional investors and hedge funds own 27.96% of the company’s stock.

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.