Mutual Insurance Co Donegal Buys 20,000 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

view original post

Donegal Group Inc. (NASDAQ:DGICAGet Rating) major shareholder Mutual Insurance Co Donegal acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were acquired at an average cost of $16.29 per share, for a total transaction of $325,800.00. Following the completion of the acquisition, the insider now owns 10,808,822 shares of the company’s stock, valued at $176,075,710.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 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, June 2nd, Mutual Insurance Co Donegal acquired 18,275 shares of Donegal Group stock. The shares were acquired at an average cost of $16.05 per share, for a total transaction of $293,313.75.
  • On Thursday, May 26th, Mutual Insurance Co Donegal acquired 3,637 shares of Donegal Group stock. The shares were acquired at an average cost of $15.84 per share, for a total transaction of $57,610.08.
  • On Tuesday, May 24th, Mutual Insurance Co Donegal acquired 11,413 shares of Donegal Group stock. The shares were acquired at an average cost of $15.83 per share, for a total transaction of $180,667.79.
  • On Sunday, May 22nd, Mutual Insurance Co Donegal purchased 13,281 shares of Donegal Group stock. The stock was purchased at an average cost of $15.56 per share, for a total transaction of $206,652.36.
  • On Wednesday, May 18th, Mutual Insurance Co Donegal purchased 6,344 shares of Donegal Group stock. The stock was purchased at an average cost of $15.51 per share, for a total transaction of $98,395.44.
  • On Monday, May 16th, Mutual Insurance Co Donegal purchased 6,480 shares of Donegal Group stock. The stock was purchased at an average cost of $15.32 per share, for a total transaction of $99,273.60.
  • On Friday, May 13th, Mutual Insurance Co Donegal acquired 10,895 shares of Donegal Group stock. The shares were bought at an average cost of $15.02 per share, for a total transaction of $163,642.90.
  • On Wednesday, May 11th, Mutual Insurance Co Donegal acquired 7,941 shares of Donegal Group stock. The shares were bought at an average cost of $14.84 per share, for a total transaction of $117,844.44.
  • On Monday, May 9th, Mutual Insurance Co Donegal acquired 7,059 shares of Donegal Group stock. The shares were bought at an average cost of $14.58 per share, for a total transaction of $102,920.22.
  • On Thursday, May 5th, Mutual Insurance Co Donegal acquired 61,785 shares of Donegal Group stock. The shares were bought at an average cost of $14.23 per share, for a total transaction of $879,200.55.

Shares of Donegal Group stock traded down $0.29 during trading hours on Wednesday, reaching $16.16. The stock had a trading volume of 1,853 shares, compared to its average volume of 92,180. The stock’s 50 day moving average is $14.49 and its 200 day moving average is $14.19. The firm has a market capitalization of $507.75 million, a PE ratio of 18.08 and a beta of 0.04. Donegal Group Inc. has a twelve month low of $13.09 and a twelve month high of $16.50. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICAGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The insurance provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.15. The business had revenue of $207.60 million during the quarter, compared to the consensus estimate of $211.20 million. Donegal Group had a net margin of 3.37% and a return on equity of 4.62%. As a group, sell-side analysts predict that Donegal Group Inc. will post 0.9 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 16th. Shareholders of record on Monday, May 2nd were given a $0.165 dividend. The ex-dividend date was Friday, April 29th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.08%. This is an increase from Donegal Group’s previous quarterly dividend of $0.16. Donegal Group’s dividend payout ratio is 72.53%.

Several institutional investors have recently modified their holdings of the business. Keeley Teton Advisors LLC raised its position in shares of Donegal Group by 689.4% in the first quarter. Keeley Teton Advisors LLC now owns 88,832 shares of the insurance provider’s stock worth $1,191,000 after acquiring an additional 77,579 shares during the period. State Street Corp raised its position in shares of Donegal Group by 7.2% during the 1st quarter. State Street Corp now owns 256,360 shares of the insurance provider’s stock worth $3,438,000 after purchasing an additional 17,264 shares during the last quarter. Engineers Gate Manager LP raised its position in shares of Donegal Group by 18.0% during the 1st quarter. Engineers Gate Manager LP now owns 14,231 shares of the insurance provider’s stock worth $191,000 after purchasing an additional 2,175 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Donegal Group by 16.9% during the 1st quarter. Renaissance Technologies LLC now owns 558,611 shares of the insurance provider’s stock worth $7,491,000 after purchasing an additional 80,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Donegal Group by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 39,204 shares of the insurance provider’s stock worth $526,000 after purchasing an additional 2,213 shares during the last quarter. Institutional investors and hedge funds own 30.02% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Donegal Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 1st. StockNews.com upgraded shares of Donegal Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 28th.

About Donegal Group (Get Rating)

Donegal Group Inc, an insurance holding company, provides personal and commercial lines of 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.

See Also

Receive News & Ratings for Donegal Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Donegal Group and related companies with MarketBeat.com’s FREE daily email newsletter.

Related Posts