Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 14,700 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 14,700 shares of Donegal Group stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $17.06 per share, with a total value of $250,782.00. Following the completion of the purchase, the insider now directly owns 13,189,273 shares in the company, valued at $225,008,997.38. This trade represents a 0.11 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 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 3rd, Mutual Insurance Co Donegal purchased 15,000 shares of Donegal Group stock. The stock was purchased at an average price of $17.85 per share, with a total value of $267,750.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal purchased 12,000 shares of Donegal Group stock. The stock was purchased 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 purchased at an average price of $16.29 per share, with a total value of $127,338.93.
• On Wednesday, December 11th, Mutual Insurance Co Donegal purchased 8,729 shares of Donegal Group stock. The stock was purchased at an average price of $16.37 per share, with a total value of $142,893.73.
• On Monday, December 9th, Mutual Insurance Co Donegal purchased 70,000 shares of Donegal Group stock. The stock was purchased at an average price of $16.61 per share, with a total value of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal purchased 270,000 shares of Donegal Group stock. The stock was purchased at an average price of $16.66 per share, with a total value of $4,498,200.00.
• On Wednesday, December 4th, Mutual Insurance Co Donegal purchased 9,522 shares of Donegal Group stock. The stock was purchased at an average price of $16.54 per share, with a total value of $157,493.88.

Donegal Group Stock Performance

DGICA opened at $17.94 on Thursday. The business has a fifty day simple moving average of $15.32 and a 200 day simple moving average of $15.35. The company has a market capitalization of $608.09 million, a PE ratio of 11.80 and a beta of -0.05. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $18.19. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.39. The firm had revenue of $249.70 million during the quarter, compared to analysts’ expectations of $250.61 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. Research analysts expect that Donegal Group Inc. will post 1.2 EPS for the current year.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were issued a $0.1725 dividend. The ex-dividend date was Tuesday, February 4th. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 3.85%. Donegal Group’s payout ratio is currently 45.39%.

Hedge Funds Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DGICA. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of 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 worth $3,647,000 after buying an additional 130,489 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Donegal Group by 29.5% during the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock worth $6,638,000 after buying an additional 97,795 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Donegal Group by 351.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider’s stock worth $1,670,000 after buying an additional 84,029 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Donegal Group by 170.8% during the 4th quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider’s stock worth $1,598,000 after buying an additional 65,146 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Donegal Group by 137.8% during the 4th quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider’s stock worth $1,615,000 after buying an additional 60,491 shares in the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

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.