Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases $129,033.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,100 shares of Donegal Group stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average price of $15.93 per share, for a total transaction of $129,033.00. Following the completion of the acquisition, the insider now owns 12,577,768 shares in the company, valued at approximately $200,363,844.24. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, November 11th, Mutual Insurance Co Donegal acquired 8,170 shares of Donegal Group stock. The shares were bought at an average cost of $15.95 per share, for a total transaction of $130,311.50.
• On Thursday, November 7th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were bought at an average price of $15.74 per share, for a total transaction of $133,790.00.
• On Monday, November 4th, Mutual Insurance Co Donegal acquired 4,137 shares of Donegal Group stock. The shares were purchased at an average cost of $15.20 per share, with a total value of $62,882.40.
• On Thursday, October 31st, Mutual Insurance Co Donegal bought 150,432 shares of Donegal Group stock. The stock was purchased at an average price of $15.49 per share, with a total value of $2,330,191.68.
• On Friday, September 13th, Mutual Insurance Co Donegal acquired 6,005 shares of Donegal Group stock. The stock was purchased at an average cost of $15.34 per share, with a total value of $92,116.70.
• On Wednesday, September 11th, Mutual Insurance Co Donegal bought 8,390 shares of Donegal Group stock. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $125,850.00.
• On Monday, September 9th, Mutual Insurance Co Donegal purchased 5,865 shares of Donegal Group stock. The shares were acquired at an average cost of $15.33 per share, with a total value of $89,910.45.
• On Thursday, September 5th, Mutual Insurance Co Donegal bought 4,889 shares of Donegal Group stock. The stock was acquired at an average price of $15.32 per share, for a total transaction of $74,899.48.
• On Tuesday, September 3rd, Mutual Insurance Co Donegal acquired 9,452 shares of Donegal Group stock. The stock was bought at an average cost of $15.24 per share, with a total value of $144,048.48.
• On Friday, August 30th, Mutual Insurance Co Donegal purchased 8,028 shares of Donegal Group stock. The shares were purchased at an average cost of $15.20 per share, for a total transaction of $122,025.60.

Donegal Group Stock Down 0.1 %

Shares of NASDAQ DGICA opened at $15.89 on Thursday. Donegal Group Inc. has a 12-month low of $12.26 and a 12-month high of $16.00. The stock’s fifty day simple moving average is $15.00 and its two-hundred day simple moving average is $14.11. The stock has a market capitalization of $532.00 million, a PE ratio of 20.91 and a beta of -0.06. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

Donegal Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.172 per share. The ex-dividend date is Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.33%. Donegal Group’s dividend payout ratio (DPR) is currently 90.79%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a report on Friday, October 25th.

Hedge Funds Weigh In On Donegal Group

Several hedge funds have recently made changes to their positions in DGICA. Vanguard Group Inc. raised its holdings in shares of Donegal Group by 34.7% during the first quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after purchasing an additional 304,477 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Donegal Group by 82.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock valued at $1,551,000 after purchasing an additional 47,447 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Donegal Group during the second quarter worth $448,000. Los Angeles Capital Management LLC grew its position in Donegal Group by 95.2% during the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after buying an additional 19,707 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Donegal Group by 30.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock valued at $1,072,000 after buying an additional 17,614 shares in the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

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.