Donegal Group (NASDAQ:DGICA) Reaches New 12-Month High on Insider Buying Activity

Donegal Group Inc. (NASDAQ:DGICA) shares reached a new 52-week high during mid-day trading on Monday after an insider bought additional shares in the company. The company traded as high as $15.41 and last traded at $15.39, with a volume of 4606 shares trading hands. The stock had previously closed at $15.35.

Specifically, major shareholder Mutual Insurance Co Donegal purchased 6,005 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average price of $15.34 per share, with a total value of $92,116.70. Following the acquisition, the insider now owns 12,351,934 shares in the company, valued at approximately $189,478,667.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Mutual Insurance Co Donegal bought 8,390 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average price of $15.00 per share, for a total transaction of $125,850.00. Following the completion of the purchase, the insider now directly owns 12,337,025 shares of the company’s stock, valued at approximately $185,055,375. The disclosure for this purchase can be found here. In related news, major shareholder Mutual Insurance Co Donegal acquired 5,865 shares of Donegal Group stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price of $15.33 per share, with a total value of $89,910.45. Following the completion of the acquisition, the insider now directly owns 12,323,325 shares of the company’s stock, valued at approximately $188,916,572.25. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Donegal Group Trading Up 0.3 %

The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $14.46 and a 200-day moving average price of $13.75. The company has a market capitalization of $513.92 million, a price-to-earnings ratio of 95.94 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, July 25th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Donegal Group had a return on equity of 0.89% and a net margin of 0.76%. The firm had revenue of $246.77 million for the quarter, compared to analyst estimates of $243.00 million. As a group, sell-side analysts predict that Donegal Group Inc. will post 0.45 EPS for the current year.

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.172 per share. The ex-dividend date was Thursday, August 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.47%. Donegal Group’s dividend payout ratio (DPR) is presently 431.25%.

Institutional Investors Weigh In On Donegal Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in Donegal Group by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,825,664 shares of the insurance provider’s stock worth $25,541,000 after purchasing an additional 53,632 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Donegal Group during the 1st quarter valued at about $293,000. BNP Paribas Financial Markets lifted its position in shares of Donegal Group by 125.0% in the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after purchasing an additional 5,757 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Donegal Group by 8.2% during the first quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock worth $1,573,000 after purchasing an additional 8,400 shares during the period. Finally, Vanguard Group Inc. grew its position in Donegal Group by 34.7% during the first quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock valued at $16,728,000 after purchasing an additional 304,477 shares in the last quarter. 27.96% of the stock is 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.