Donegal Group Inc. (NASDAQ:DGICA) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its stake in Donegal Group Inc. (NASDAQ:DGICA) by 124.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 235,746 shares of the insurance provider’s stock after acquiring an additional 130,489 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.70% of Donegal Group worth $3,647,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Barclays PLC boosted its position in Donegal Group by 38.7% during the third quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock worth $957,000 after acquiring an additional 18,132 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Donegal Group by 39.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock worth $896,000 after purchasing an additional 17,125 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of Donegal Group in the fourth quarter valued at $244,000. Inceptionr LLC acquired a new position in Donegal Group in the fourth quarter valued at $218,000. Finally, Private Advisor Group LLC purchased a new position in Donegal Group during the fourth quarter worth about $177,000. 27.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Donegal Group

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal bought 8,000 shares of Donegal Group stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $18.14 per share, for a total transaction of $145,120.00. Following the acquisition, the insider now owns 13,334,382 shares of the company’s stock, valued at $241,885,689.48. The trade was a 0.06 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William Daniel Delamater sold 12,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $17.77, for a total transaction of $213,240.00. Following the sale, the executive vice president now directly owns 1,495 shares of the company’s stock, valued at approximately $26,566.15. This trade represents a 88.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 105,908 shares of company stock valued at $1,865,086 and sold 47,119 shares valued at $845,651. 6.63% of the stock is owned by company insiders.

Donegal Group Stock Up 1.9 %

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 business has a 50-day moving average of $15.75 and a two-hundred day moving average of $15.53. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $628.77 million, a price-to-earnings ratio of 12.20 and a beta of -0.04.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.39. The firm had revenue of $249.70 million during the quarter, compared to the consensus estimate of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. On average, research analysts expect that Donegal Group Inc. will post 1.2 earnings per share for the current year.

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were issued a $0.1725 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.69 dividend on an annualized basis and a yield of 3.72%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio (DPR) is presently 45.39%.

Donegal Group 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.