Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Buys $142,893.73 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,729 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average price of $16.37 per share, for a total transaction of $142,893.73. Following the completion of the purchase, the insider now directly owns 13,134,755 shares in the company, valued at $215,015,939.35. This trade represents a 0.07 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% 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 Monday, December 9th, Mutual Insurance Co Donegal bought 70,000 shares of Donegal Group stock. The stock was acquired at an average price of $16.61 per share, with a total value of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal acquired 270,000 shares of Donegal Group stock. The stock was acquired at an average cost of $16.66 per share, with a total value of $4,498,200.00.
• On Wednesday, December 4th, Mutual Insurance Co Donegal bought 9,522 shares of Donegal Group stock. The shares were 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 purchased 8,354 shares of Donegal Group stock. The stock was bought at an average price of $16.73 per share, with a total value of $139,762.42.
• On Friday, November 29th, Mutual Insurance Co Donegal acquired 8,300 shares of Donegal Group stock. The shares were bought at an average cost of $16.59 per share, for a total transaction of $137,697.00.
• On Wednesday, November 27th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $16.47 per share, with a total value of $139,995.00.
• On Monday, November 25th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was 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 shares were purchased at an average cost of $15.81 per share, for a total transaction of $596,795.88.
• On Wednesday, November 13th, Mutual Insurance Co Donegal purchased 8,100 shares of Donegal Group stock. The stock was purchased at an average cost of $15.93 per share, with a total value of $129,033.00.
• On Monday, November 11th, Mutual Insurance Co Donegal acquired 8,170 shares of Donegal Group stock. The stock was acquired at an average price of $15.95 per share, for a total transaction of $130,311.50.

Donegal Group Trading Down 0.6 %

Shares of DGICA opened at $16.33 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $17.00. The company has a market capitalization of $553.59 million, a P/E ratio of 21.49 and a beta of -0.03. The firm’s 50 day simple moving average is $15.63 and its 200 day simple moving average is $14.58.

Donegal Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $0.172 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.69 annualized dividend and a yield of 4.21%. Donegal Group’s dividend payout ratio (DPR) is presently 90.79%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DGICA. Innealta Capital LLC bought a new position in Donegal Group during the second quarter valued at approximately $27,000. Martingale Asset Management L P boosted its position in Donegal Group by 4.2% during the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after buying an additional 902 shares during the period. Hsbc Holdings PLC increased its stake in Donegal Group by 7.8% in the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after purchasing an additional 2,250 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Donegal Group in the second quarter worth $448,000. Finally, Los Angeles Capital Management LLC boosted its position in Donegal Group by 95.2% during the 2nd 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. Institutional investors 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.