Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires $1,162,700.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 70,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was acquired at an average price of $16.61 per share, with a total value of $1,162,700.00. Following the completion of the acquisition, the insider now directly owns 13,116,126 shares in the company, valued at $217,858,852.86. The trade was a 0.54 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 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 Friday, December 6th, Mutual Insurance Co Donegal bought 270,000 shares of Donegal Group stock. The stock was acquired at an average price of $16.66 per share, with a total value of $4,498,200.00.
• On Wednesday, December 4th, Mutual Insurance Co Donegal purchased 9,522 shares of Donegal Group stock. The stock was acquired at an average cost of $16.54 per share, for a total transaction of $157,493.88.
• On Monday, December 2nd, Mutual Insurance Co Donegal acquired 8,354 shares of Donegal Group stock. The shares were bought 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 bought 8,300 shares of Donegal Group stock. The stock was bought at an average price of $16.59 per share, with a total value of $137,697.00.
• On Wednesday, November 27th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $16.47 per share, for a total transaction of $139,995.00.
• On Monday, November 25th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $16.19 per share, with a total value of $137,615.00.
• On Tuesday, November 19th, Mutual Insurance Co Donegal bought 37,748 shares of Donegal Group stock. The stock was purchased at an average price of $15.81 per share, for a total transaction of $596,795.88.
• On Wednesday, November 13th, Mutual Insurance Co Donegal acquired 8,100 shares of Donegal Group stock. The stock was purchased at an average price of $15.93 per share, for a total transaction of $129,033.00.
• On Monday, November 11th, Mutual Insurance Co Donegal purchased 8,170 shares of Donegal Group stock. The shares were acquired 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 bought 8,500 shares of Donegal Group stock. The stock was acquired at an average cost of $15.74 per share, for a total transaction of $133,790.00.

Donegal Group Stock Up 1.3 %

NASDAQ:DGICA traded up $0.21 during trading hours on Wednesday, hitting $16.47. The stock had a trading volume of 99,838 shares, compared to its average volume of 62,167. The company has a market cap of $558.33 million, a PE ratio of 21.68 and a beta of -0.03. The business has a 50 day simple moving average of $15.51 and a two-hundred day simple moving average of $14.52. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $17.00. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.172 per share. This represents a $0.69 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Friday, November 1st. Donegal Group’s dividend payout ratio (DPR) is 90.79%.

Analyst Ratings Changes

Separately, StockNews.com upgraded 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

A number of institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Donegal Group during the second quarter worth about $27,000. Martingale Asset Management L P increased its holdings in Donegal Group by 4.2% during the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock worth $329,000 after purchasing an additional 902 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Donegal Group by 7.8% in the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock valued at $389,000 after purchasing an additional 2,250 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Donegal Group during the 2nd quarter valued at approximately $448,000. Finally, Los Angeles Capital Management LLC grew its position in shares of 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 worth $520,000 after buying an additional 19,707 shares in the last quarter. Institutional investors and hedge funds 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.