Mutual Insurance Co Donegal Acquires 9,024 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 9,024 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was purchased at an average price of $14.96 per share, for a total transaction of $134,999.04. Following the acquisition, the insider now owns 12,104,114 shares of the company’s stock, valued at approximately $181,077,545.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Donegal Group Stock Down 1.8 %

Shares of DGICA stock traded down $0.26 during trading hours on Thursday, reaching $14.47. The company had a trading volume of 5,261 shares, compared to its average volume of 56,100. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $15.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.39. The business has a fifty day simple moving average of $13.27 and a 200-day simple moving average of $13.70. The company has a market cap of $483.15 million, a price-to-earnings ratio of 92.06 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 0.90% and a net margin of 0.76%. On average, research analysts expect 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 $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Thursday, August 1st. Donegal Group’s dividend payout ratio is currently 431.25%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Donegal Group

Large investors have recently bought and sold shares of the company. CWM LLC grew its position in shares of Donegal Group by 170.9% in the fourth quarter. CWM LLC now owns 1,796 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 1,133 shares in the last quarter. Innealta Capital LLC bought a new stake in Donegal Group during the second quarter valued at $27,000. Bank of New York Mellon Corp boosted its stake in Donegal Group by 4.4% during the second quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock valued at $1,669,000 after buying an additional 5,416 shares during the period. BNP Paribas Financial Markets boosted its stake 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 buying an additional 5,757 shares during the period. Finally, Empowered Funds LLC boosted its stake 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 buying an additional 8,400 shares during the period. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.