Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires $139,995.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock in a transaction on Wednesday, November 27th. The shares were acquired at an average cost of $16.47 per share, for a total transaction of $139,995.00. Following the purchase, the insider now owns 12,729,950 shares in the company, valued at approximately $209,662,276.50. This trade represents a 0.07 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Friday, November 29th, Mutual Insurance Co Donegal acquired 8,300 shares of Donegal Group stock. The stock was acquired at an average cost of $16.59 per share, with a total value of $137,697.00.
• On Monday, November 25th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired 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 purchased 37,748 shares of Donegal Group stock. The stock was bought 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 bought 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.
• On Monday, November 11th, Mutual Insurance Co Donegal acquired 8,170 shares of Donegal Group stock. The shares were purchased at an average price of $15.95 per share, for a total transaction of $130,311.50.
• On Thursday, November 7th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought 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 acquired 4,137 shares of Donegal Group stock. The stock was purchased at an average price of $15.20 per share, for a total transaction of $62,882.40.
• On Thursday, October 31st, Mutual Insurance Co Donegal bought 150,432 shares of Donegal Group stock. The shares were bought at an average cost of $15.49 per share, for a total transaction of $2,330,191.68.
• On Friday, September 13th, Mutual Insurance Co Donegal bought 6,005 shares of Donegal Group stock. The stock was purchased at an average cost of $15.34 per share, for a total transaction of $92,116.70.
• On Wednesday, September 11th, Mutual Insurance Co Donegal purchased 8,390 shares of Donegal Group stock. The stock was bought at an average price of $15.00 per share, for a total transaction of $125,850.00.

Donegal Group Price Performance

DGICA stock traded down $0.09 during trading on Monday, reaching $16.55. 22,957 shares of the company were exchanged, compared to its average volume of 60,250. Donegal Group Inc. has a twelve month low of $12.26 and a twelve month high of $16.69. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market capitalization of $561.05 million, a price-to-earnings ratio of 21.78 and a beta of -0.06. The company has a 50-day moving average of $15.25 and a two-hundred day moving average of $14.36.

Donegal Group Dividend Announcement

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

Hedge Funds Weigh In On Donegal Group

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Donegal Group by 34.7% in the first quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after acquiring an additional 304,477 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Donegal Group by 82.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock worth $1,551,000 after purchasing an additional 47,447 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Donegal Group in the second quarter worth $448,000. Los Angeles Capital Management LLC raised its stake in shares of Donegal Group by 95.2% during the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after acquiring an additional 19,707 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Donegal Group by 38.7% in 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 during the period. Institutional investors own 27.96% of the company’s stock.

Wall Street Analyst Weigh In

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

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.