Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires 12,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 12,000 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was acquired at an average price of $16.49 per share, for a total transaction of $197,880.00. Following the purchase, the insider now owns 13,164,372 shares of the company's stock, valued at approximately $217,080,494.28. This represents a 0.09 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 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 Thursday, February 27th, Mutual Insurance Co Donegal purchased 14,700 shares of Donegal Group stock. The stock was bought at an average price of $17.06 per share, with a total value of $250,782.00.
• On Friday, December 13th, Mutual Insurance Co Donegal acquired 7,817 shares of Donegal Group stock. The shares were bought at an average price of $16.29 per share, for a total transaction of $127,338.93.
• On Wednesday, December 11th, Mutual Insurance Co Donegal bought 8,729 shares of Donegal Group stock. The stock was bought at an average price of $16.37 per share, for a total transaction 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 bought 270,000 shares of Donegal Group stock. The shares were purchased at an average cost of $16.66 per share, for a total transaction 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.
• On Monday, December 2nd, Mutual Insurance Co Donegal acquired 8,354 shares of Donegal Group stock. The stock was acquired at an average cost of $16.73 per share, with a total value of $139,762.42.
• On Friday, November 29th, Mutual Insurance Co Donegal purchased 8,300 shares of Donegal Group stock. The stock was acquired at an average price of $16.59 per share, for a total transaction of $137,697.00.

Donegal Group Stock Performance

NASDAQ DGICA traded up $0.68 during trading hours on Monday, reaching $18.17. The company's stock had a trading volume of 204,423 shares, compared to its average volume of 69,746. 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 business has a 50-day simple moving average of $15.17 and a 200 day simple moving average of $15.29. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $18.17. The stock has a market cap of $615.89 million, a PE ratio of 11.95 and a beta of -0.02.

Donegal Group (NASDAQ:DGICA - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.39. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. The business had revenue of $249.70 million during the quarter, compared to analyst estimates of $250.61 million. Equities research analysts predict that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were given a $0.1725 dividend. The ex-dividend date was Tuesday, February 4th. This is an increase from Donegal Group's previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 3.80%. Donegal Group's dividend payout ratio (DPR) is currently 45.39%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new position in Donegal Group in the 4th quarter valued at approximately $68,000. SG Americas Securities LLC acquired a new stake in Donegal Group during the fourth quarter valued at $128,000. BNP Paribas Financial Markets grew its stake in Donegal Group by 117.2% in the fourth quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider's stock valued at $130,000 after purchasing an additional 4,544 shares in the last quarter. XTX Topco Ltd acquired a new position in Donegal Group in the 4th quarter worth about $162,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Donegal Group during the 4th quarter worth about $177,000. 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.