Mutual Insurance Co Donegal Acquires 15,000 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 15,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $17.98 per share, for a total transaction of $269,700.00. Following the transaction, the insider now directly owns 13,248,574 shares in the company, valued at approximately $238,209,360.52. This represents a 0.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more 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 10th, Mutual Insurance Co Donegal acquired 15,000 shares of Donegal Group stock. The shares were purchased at an average price of $17.83 per share, with a total value of $267,450.00.
• On Friday, March 7th, Mutual Insurance Co Donegal bought 14,608 shares of Donegal Group stock. The stock was purchased at an average price of $17.96 per share, for a total transaction of $262,359.68.
• On Monday, March 3rd, Mutual Insurance Co Donegal purchased 15,000 shares of Donegal Group stock. The shares were acquired at an average price of $17.85 per share, with a total value of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal acquired 14,700 shares of Donegal Group stock. The stock was bought 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 bought 12,000 shares of Donegal Group stock. The shares were bought at an average cost of $16.49 per share, for a total transaction of $197,880.00.
• On Friday, December 13th, Mutual Insurance Co Donegal purchased 7,817 shares of Donegal Group stock. The stock was 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 acquired 8,729 shares of Donegal Group stock. The shares were purchased at an average cost of $16.37 per share, for a total transaction of $142,893.73.
• On Monday, December 9th, Mutual Insurance Co Donegal bought 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.

Donegal Group Stock Up 1.7 %

DGICA stock traded up $0.29 during trading on Tuesday, reaching $17.86. The stock had a trading volume of 115,489 shares, compared to its average volume of 72,823. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $605.38 million, a price-to-earnings ratio of 11.75 and a beta of -0.04. Donegal Group Inc. has a one year low of $12.26 and a one year high of $18.19. The company's 50 day moving average is $15.51 and its two-hundred day moving average is $15.45.

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Donegal Group (NASDAQ:DGICA - Get Free Report) last released its earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.39. The company had revenue of $249.70 million during the quarter, compared to analyst estimates of $250.61 million. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. Equities research analysts forecast 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. Investors of record on Tuesday, February 4th were issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Tuesday, February 4th. This is an increase from Donegal Group's previous quarterly dividend of $0.17. Donegal Group's dividend payout ratio (DPR) is 45.39%.

Institutional Trading of Donegal Group

Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Donegal Group by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,804,968 shares of the insurance provider's stock valued at $27,923,000 after buying an additional 27,213 shares during the last quarter. Renaissance Technologies LLC raised its stake in Donegal Group by 29.5% in the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider's stock valued at $6,638,000 after acquiring an additional 97,795 shares during the period. Geode Capital Management LLC lifted its holdings in Donegal Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider's stock valued at $5,371,000 after purchasing an additional 4,933 shares during the last quarter. Foundry Partners LLC boosted its position in Donegal Group by 1.0% during the third quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider's stock worth $3,605,000 after purchasing an additional 2,310 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Donegal Group by 124.0% during the fourth 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. Institutional investors own 27.96% of the company's stock.

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.