Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 37,748 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 37,748 shares of Donegal Group stock in a transaction on Tuesday, November 19th. The stock was acquired at an average cost of $15.81 per share, with a total value of $596,795.88. Following the acquisition, the insider now owns 12,679,138 shares in the company, valued at approximately $200,457,171.78. This represents a 0.30 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major 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 Wednesday, November 13th, Mutual Insurance Co Donegal acquired 8,100 shares of Donegal Group stock. The shares were acquired at an average cost of $15.93 per share, for a total transaction of $129,033.00.
• On Monday, November 11th, Mutual Insurance Co Donegal bought 8,170 shares of Donegal Group stock. The shares were bought at an average price 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 stock was bought at an average price of $15.74 per share, with a total value of $133,790.00.
• On Monday, November 4th, Mutual Insurance Co Donegal acquired 4,137 shares of Donegal Group stock. The shares were bought at an average price of $15.20 per share, for a total transaction of $62,882.40.
• On Thursday, October 31st, Mutual Insurance Co Donegal bought 150,432 shares of Donegal Group stock. The shares were bought 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 purchased 6,005 shares of Donegal Group stock. The stock was purchased at an average price of $15.34 per share, for a total transaction of $92,116.70.
• On Wednesday, September 11th, Mutual Insurance Co Donegal acquired 8,390 shares of Donegal Group stock. The shares were purchased at an average price of $15.00 per share, with a total value of $125,850.00.
• On Monday, September 9th, Mutual Insurance Co Donegal bought 5,865 shares of Donegal Group stock. The stock was purchased at an average cost of $15.33 per share, for a total transaction of $89,910.45.
• On Thursday, September 5th, Mutual Insurance Co Donegal purchased 4,889 shares of Donegal Group stock. The shares were acquired at an average cost of $15.32 per share, with a total value of $74,899.48.
• On Tuesday, September 3rd, Mutual Insurance Co Donegal acquired 9,452 shares of Donegal Group stock. The stock was acquired at an average cost of $15.24 per share, for a total transaction of $144,048.48.

Donegal Group Stock Performance

NASDAQ:DGICA traded up $0.02 during mid-day trading on Friday, hitting $15.96. 16,914 shares of the company traded hands, compared to its average volume of 57,822. 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 stock’s fifty day moving average price is $15.10 and its 200-day moving average price is $14.22. The firm has a market cap of $541.04 million, a price-to-earnings ratio of 20.97 and a beta of -0.06. Donegal Group Inc. has a one year low of $12.26 and a one year high of $16.00.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.172 dividend. This represents a $0.69 annualized dividend and a yield of 4.31%. The ex-dividend date was Friday, November 1st. Donegal Group’s dividend payout ratio is 90.79%.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DGICA. Innealta Capital LLC purchased a new stake in shares of Donegal Group in the second quarter worth $27,000. EntryPoint Capital LLC purchased a new stake in Donegal Group in the 1st quarter worth $137,000. BNP Paribas Financial Markets raised its holdings in Donegal Group by 125.0% during the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock valued at $147,000 after acquiring an additional 5,757 shares during the period. Martingale Asset Management L P lifted its position in shares of Donegal Group by 4.2% in the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after acquiring an additional 902 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Donegal Group by 7.8% in the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock valued at $389,000 after acquiring an additional 2,250 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.

Analysts Set New Price Targets

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

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.