Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases 14,700 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 14,700 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $17.06 per share, for a total transaction of $250,782.00. Following the completion of the purchase, the insider now owns 13,189,273 shares of the company's stock, valued at approximately $225,008,997.38. This represents a 0.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 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 Monday, March 3rd, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The shares were 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 acquired 12,000 shares of Donegal Group stock. The shares were 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 acquired 7,817 shares of Donegal Group stock. The shares were 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 acquired 8,729 shares of Donegal Group stock. The shares were 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 acquired 70,000 shares of Donegal Group stock. The shares were 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 acquired 270,000 shares of Donegal Group stock. The shares were 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 shares were bought at an average price of $16.54 per share, with a total value of $157,493.88.

Donegal Group Trading Up 0.7 %

Shares of DGICA traded up $0.13 during trading on Wednesday, reaching $17.94. 143,463 shares of the company traded hands, compared to its average volume of 71,580. Donegal Group Inc. has a twelve month low of $12.26 and a twelve month high of $18.19. The stock has a market cap of $608.09 million, a PE ratio of 11.80 and a beta of -0.05. The stock has a 50-day simple moving average of $15.32 and a 200-day simple moving average of $15.35. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICA - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.39. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. The business had revenue of $249.70 million during the quarter, compared to analysts' expectations of $250.61 million. On average, analysts anticipate that Donegal Group Inc. will post 1.2 earnings per share for the current 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 given a dividend of $0.1725 per share. 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 dividend on an annualized basis and a dividend yield of 3.85%. Donegal Group's dividend payout ratio (DPR) is currently 45.39%.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its holdings in shares of Donegal Group by 167.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 12,905 shares of the insurance provider's stock valued at $200,000 after purchasing an additional 8,071 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Donegal Group by 9.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,254 shares of the insurance provider's stock valued at $1,025,000 after purchasing an additional 5,487 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Donegal Group by 15.4% in the fourth quarter. Squarepoint Ops LLC now owns 41,810 shares of the insurance provider's stock worth $647,000 after acquiring an additional 5,568 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Donegal Group by 7.4% in the fourth quarter. Two Sigma Advisers LP now owns 49,200 shares of the insurance provider's stock worth $761,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in Donegal Group by 87.6% in the fourth quarter. Two Sigma Investments LP now owns 89,437 shares of the insurance provider's stock worth $1,384,000 after acquiring an additional 41,763 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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.