Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires $129,033.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,100 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $15.93 per share, with a total value of $129,033.00. Following the transaction, the insider now directly owns 12,577,768 shares of the company’s stock, valued at approximately $200,363,844.24. This trade represents a 0.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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 Monday, November 11th, Mutual Insurance Co Donegal purchased 8,170 shares of Donegal Group stock. The shares were bought 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 acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $15.74 per share, with a total value of $133,790.00.
• On Monday, November 4th, Mutual Insurance Co Donegal bought 4,137 shares of Donegal Group stock. The shares were purchased at an average cost of $15.20 per share, for a total transaction of $62,882.40.
• On Thursday, October 31st, Mutual Insurance Co Donegal purchased 150,432 shares of Donegal Group stock. The shares were purchased at an average cost of $15.49 per share, with a total value of $2,330,191.68.
• On Friday, September 13th, Mutual Insurance Co Donegal acquired 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 bought 8,390 shares of Donegal Group stock. The shares were acquired 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 purchased 5,865 shares of Donegal Group stock. The stock was acquired at an average price of $15.33 per share, for a total transaction of $89,910.45.
• On Thursday, September 5th, Mutual Insurance Co Donegal acquired 4,889 shares of Donegal Group stock. The shares were acquired at an average price of $15.32 per share, with a total value of $74,899.48.
• On Tuesday, September 3rd, Mutual Insurance Co Donegal bought 9,452 shares of Donegal Group stock. The shares were acquired at an average price of $15.24 per share, with a total value of $144,048.48.
• On Friday, August 30th, Mutual Insurance Co Donegal purchased 8,028 shares of Donegal Group stock. The stock was bought at an average price of $15.20 per share, with a total value of $122,025.60.

Donegal Group Stock Down 0.3 %

NASDAQ:DGICA opened at $15.79 on Friday. 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 company has a market capitalization of $528.65 million, a price-to-earnings ratio of 20.78 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. The stock has a 50-day simple moving average of $15.04 and a 200 day simple moving average of $14.16.

Donegal Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.172 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.36%. Donegal Group’s dividend payout ratio (DPR) is 90.79%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Donegal Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Donegal Group in the second quarter worth about $27,000. EntryPoint Capital LLC bought a new stake in shares of Donegal Group in the 1st quarter worth approximately $137,000. BNP Paribas Financial Markets boosted its position in Donegal Group by 125.0% during the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock valued at $147,000 after purchasing an additional 5,757 shares during the period. Martingale Asset Management L P grew its stake 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 buying an additional 902 shares during the last quarter. Finally, Hsbc Holdings PLC increased 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 worth $389,000 after buying an additional 2,250 shares during the period. 27.96% of the stock is owned by institutional investors and hedge funds.

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.