Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Buys 7,817 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 7,817 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $16.29 per share, for a total transaction of $127,338.93. Following the acquisition, the insider now owns 13,152,372 shares of the company’s stock, valued at $214,252,139.88. This represents a 0.06 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more 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 Wednesday, December 11th, Mutual Insurance Co Donegal purchased 8,729 shares of Donegal Group stock. The shares were purchased at an average cost of $16.37 per share, for a total transaction of $142,893.73.
• On Monday, December 9th, Mutual Insurance Co Donegal acquired 70,000 shares of Donegal Group stock. The shares were purchased at an average cost of $16.61 per share, with a total value of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal bought 270,000 shares of Donegal Group stock. The stock was purchased at an average cost of $16.66 per share, for a total transaction of $4,498,200.00.
• On Wednesday, December 4th, Mutual Insurance Co Donegal acquired 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 purchased 8,354 shares of Donegal Group stock. The stock was 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 acquired 8,300 shares of Donegal Group stock. The shares were purchased 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 acquired at an average price of $16.47 per share, for a total transaction of $139,995.00.
• On Monday, November 25th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was bought at an average cost of $16.19 per share, for a total transaction of $137,615.00.
• On Tuesday, November 19th, Mutual Insurance Co Donegal acquired 37,748 shares of Donegal Group stock. The shares were bought at an average cost of $15.81 per share, with a total value of $596,795.88.
• On Wednesday, November 13th, Mutual Insurance Co Donegal purchased 8,100 shares of Donegal Group stock. The shares were purchased at an average cost of $15.93 per share, with a total value of $129,033.00.

Donegal Group Stock Up 1.2 %

NASDAQ:DGICA traded up $0.20 during mid-day trading on Monday, hitting $16.53. The company had a trading volume of 9,935 shares, compared to its average volume of 62,444. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $17.00. The business has a fifty day simple moving average of $15.63 and a 200-day simple moving average of $14.60. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $560.37 million, a price-to-earnings ratio of 22.37 and a beta of -0.03.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Friday, November 1st. Donegal Group’s payout ratio is 90.79%.

Institutional Investors Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently modified their holdings of DGICA. Geode Capital Management LLC grew its stake 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 purchasing an additional 4,933 shares in the last quarter. Foundry Partners LLC lifted its holdings in Donegal Group by 1.0% in 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 during the period. Bank of New York Mellon Corp grew its position in Donegal Group by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock valued at $1,669,000 after buying an additional 5,416 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Donegal Group by 82.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock valued at $1,551,000 after buying an additional 47,447 shares during the period. Finally, Barclays PLC raised its position in shares of Donegal Group by 38.7% during the 3rd quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock worth $957,000 after buying an additional 18,132 shares in the last quarter. Institutional investors own 27.96% of the company’s stock.

Analyst Upgrades and Downgrades

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.

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.