Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases $267,750.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 15,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $17.85 per share, with a total value of $267,750.00. Following the completion of the transaction, the insider now owns 13,219,273 shares in the company, valued at approximately $235,964,023.05. The trade was a 0.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, February 27th, Mutual Insurance Co Donegal bought 14,700 shares of Donegal Group stock. The shares were acquired 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 acquired 12,000 shares of Donegal Group stock. The stock was purchased 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 bought 70,000 shares of Donegal Group stock. The shares were bought at an average cost of $16.61 per share, with a total value of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal bought 270,000 shares of Donegal Group stock. The shares were bought at an average cost of $16.66 per share, with a total value of $4,498,200.00.

Donegal Group Stock Performance

Shares of DGICA opened at $17.94 on Thursday. The company has a market cap of $608.09 million, a PE ratio of 11.80 and a beta of -0.05. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $15.32 and a 200-day moving average price of $15.35. Donegal Group Inc. has a 12-month low of $12.26 and a 12-month high of $18.19.

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

Donegal Group Increases Dividend

The business also recently declared 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. This represents a $0.69 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Tuesday, February 4th. Donegal Group’s payout ratio is 45.39%.

Hedge Funds Weigh In On Donegal Group

A number of large investors have recently bought and sold shares of DGICA. Connor Clark & Lunn Investment Management Ltd. increased its stake in 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 worth $3,647,000 after purchasing an additional 130,489 shares during the period. 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 increased its stake in shares of Donegal Group by 351.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider’s stock valued at $1,670,000 after buying an additional 84,029 shares during the period. Millennium Management LLC increased its stake in shares of Donegal Group by 170.8% during the fourth quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider’s stock valued at $1,598,000 after buying an additional 65,146 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of Donegal Group by 137.8% during the fourth quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider’s stock valued at $1,615,000 after buying an additional 60,491 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.