Donegal Group (NASDAQ:DGICA) Sees Large Volume Increase – Time to Buy?

Donegal Group Inc. (NASDAQ:DGICA) saw unusually-strong trading volume on Monday . Approximately 101,967 shares traded hands during mid-day trading, an increase of 75% from the previous session’s volume of 58,288 shares.The stock last traded at $15.98 and had previously closed at $15.98.

Analyst Ratings Changes

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.

Donegal Group Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market capitalization of $556.91 million, a PE ratio of 21.63 and a beta of -0.06. The company’s fifty day simple moving average is $15.15 and its two-hundred day simple moving average is $14.29.

Donegal Group Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Friday, November 1st. Donegal Group’s payout ratio is currently 90.79%.

Insider Buying and Selling at Donegal Group

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal purchased 8,500 shares of the stock in a transaction on Monday, November 25th. The stock was bought at an average price of $16.19 per share, for a total transaction of $137,615.00. Following the acquisition, the insider now directly owns 12,713,138 shares of the company’s stock, valued at $205,825,704.22. This represents a 0.07 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, VP Sanjay Pandey sold 3,766 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $16.50, for a total transaction of $62,139.00. Following the completion of the sale, the vice president now directly owns 6,871 shares in the company, valued at $113,371.50. This represents a 35.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 268,216 shares of company stock worth $4,169,470 and have sold 124,266 shares worth $1,932,589. 6.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Donegal Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Martingale Asset Management L P raised its stake in shares of Donegal Group by 4.2% in the 3rd 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 during the period. Innealta Capital LLC acquired a new stake in Donegal Group in the 2nd quarter valued at $27,000. Hsbc Holdings PLC raised its position in 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 purchasing an additional 2,250 shares during the period. Foundry Partners LLC lifted its stake in shares of Donegal Group by 1.0% during the third quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock worth $3,605,000 after purchasing an additional 2,310 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Donegal Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock worth $5,371,000 after buying an additional 4,933 shares during the period. 27.96% of the stock is currently owned by institutional investors and hedge funds.

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.