Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Buys 8,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were bought at an average cost of $18.14 per share, for a total transaction of $145,120.00. Following the transaction, the insider now directly owns 13,334,382 shares in the company, valued at approximately $241,885,689.48. This represents a 0.06 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Wednesday, March 12th, Mutual Insurance Co Donegal bought 11,600 shares of Donegal Group stock. The shares were bought at an average cost of $17.59 per share, for a total transaction of $204,044.00.
• On Monday, March 10th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The shares were bought at an average cost of $17.83 per share, for a total transaction of $267,450.00.
• On Friday, March 7th, Mutual Insurance Co Donegal bought 14,608 shares of Donegal Group stock. The shares were bought at an average cost of $17.96 per share, for a total transaction of $262,359.68.
• On Wednesday, March 5th, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The shares were bought at an average cost of $17.98 per share, for a total transaction of $269,700.00.
• On Monday, March 3rd, Mutual Insurance Co Donegal bought 15,000 shares of Donegal Group stock. The shares were bought at an average cost of $17.85 per share, for a total transaction of $267,750.00.
• On Thursday, February 27th, Mutual Insurance Co Donegal acquired 14,700 shares of Donegal Group stock. The shares were acquired at an average price of $17.06 per share, with a total value of $250,782.00.
• On Tuesday, February 25th, Mutual Insurance Co Donegal acquired 12,000 shares of Donegal Group stock. The shares were acquired at an average price of $16.49 per share, with a total value of $197,880.00.

Donegal Group Stock Performance

Shares of DGICA opened at $18.55 on Tuesday. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $18.55. The stock has a fifty day moving average price of $15.75 and a 200-day moving average price of $15.53. 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 firm has a market cap of $628.77 million, a PE ratio of 12.20 and a beta of -0.04.

Donegal Group (NASDAQ:DGICA) last issued its quarterly earnings data on Thursday, February 20th. The insurance provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.30 by $0.39. Donegal Group had a return on equity of 9.50% and a net margin of 5.14%. The firm 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were issued a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Tuesday, February 4th. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is currently 45.39%.

Hedge Funds Weigh In On Donegal Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DGICA. Connor Clark & Lunn Investment Management Ltd. raised its stake in Donegal Group by 124.0% in 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 acquiring an additional 130,489 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 worth $6,638,000 after acquiring an additional 97,795 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Donegal Group by 351.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 107,951 shares of the insurance provider’s stock worth $1,670,000 after acquiring an additional 84,029 shares during the last quarter. Millennium Management LLC raised its stake in Donegal Group by 170.8% in the 4th quarter. Millennium Management LLC now owns 103,296 shares of the insurance provider’s stock worth $1,598,000 after acquiring an additional 65,146 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Donegal Group by 137.8% in the 4th quarter. Teacher Retirement System of Texas now owns 104,392 shares of the insurance provider’s stock worth $1,615,000 after acquiring an additional 60,491 shares during the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

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.