Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 6,027 Shares

Donegal Group Inc. (NASDAQ:DGICA – Get Rating) major shareholder Mutual Insurance Co Donegal purchased 6,027 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were purchased at an average cost of $14.76 per share, with a total value of $88,958.52. Following the completion of the acquisition, the insider now directly owns 11,702,306 shares of the company’s stock, valued at $172,726,036.56. The transaction was disclosed in a document filed with the SEC, which is available at 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 Monday, May 22nd, Mutual Insurance Co Donegal bought 5,363 shares of Donegal Group stock. The shares were bought at an average price of $14.69 per share, for a total transaction of $78,782.47.
• On Thursday, May 18th, Mutual Insurance Co Donegal bought 5,430 shares of Donegal Group stock. The shares were bought at an average price of $14.71 per share, for a total transaction of $79,875.30.
• On Wednesday, March 8th, Mutual Insurance Co Donegal bought 35,000 shares of Donegal Group stock. The shares were bought at an average price of $15.32 per share, for a total transaction of $536,200.00.
• On Friday, March 3rd, Mutual Insurance Co Donegal bought 60,000 shares of Donegal Group stock. The shares were bought at an average price of $15.39 per share, for a total transaction of $923,400.00.

Donegal Group Stock Down 1.4 %

DGICA stock opened at $14.64 on Friday. The company’s 50 day simple moving average is $14.75 and its 200-day simple moving average is $14.86. Donegal Group Inc. has a 12 month low of $13.05 and a 12 month high of $17.13. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICA – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The insurance provider reported $0.09 EPS for the quarter. The business had revenue of $222.82 million for the quarter. Donegal Group had a negative net margin of 1.14% and a negative return on equity of 0.34%.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 1st were given a $0.17 dividend. The ex-dividend date was Friday, April 28th. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a dividend yield of 4.64%. Donegal Group’s dividend payout ratio is currently -212.49%.

Institutional Trading of Donegal Group

Large investors have recently modified their holdings of the business. Great West Life Assurance Co. Can boosted its position in Donegal Group by 58.1% during the first quarter. Great West Life Assurance Co. Can now owns 1,924 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 707 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Donegal Group by 2,703.3% during the third quarter. Quadrant Capital Group LLC now owns 2,551 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 2,460 shares during the period. FMR LLC raised its stake in Donegal Group by 15,473.7% during the second quarter. FMR LLC now owns 2,959 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 2,940 shares during the period. Ensign Peak Advisors Inc purchased a new position in Donegal Group during the third quarter worth approximately $44,000. Finally, Salem Investment Counselors Inc. purchased a new position in Donegal Group during the third quarter worth approximately $51,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Donegal Group from a “buy” rating to a “hold” rating in a research report on Monday, May 15th.

About Donegal Group

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Donegal Group, Inc is an insurance holding company, which engages in the provision of property and casualty insurance to businesses and individuals. It operates through the following segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The Investment Function segment covers investment activities.