Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires $127,338.93 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 7,817 shares of the business’s stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $16.29 per share, for a total transaction of $127,338.93. Following the completion of the acquisition, the insider now owns 13,152,372 shares of the company’s stock, valued at approximately $214,252,139.88. This trade represents a 0.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more 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 Wednesday, December 11th, Mutual Insurance Co Donegal acquired 8,729 shares of Donegal Group stock. The stock was purchased at an average price of $16.37 per share, with a total value of $142,893.73.
• On Monday, December 9th, Mutual Insurance Co Donegal bought 70,000 shares of Donegal Group stock. The shares were acquired at an average price of $16.61 per share, for a total transaction of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal purchased 270,000 shares of Donegal Group stock. The shares were acquired 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 price of $16.54 per share, with a total value of $157,493.88.
• On Monday, December 2nd, Mutual Insurance Co Donegal bought 8,354 shares of Donegal Group stock. The shares were bought at an average price of $16.73 per share, for a total transaction of $139,762.42.
• On Friday, November 29th, Mutual Insurance Co Donegal acquired 8,300 shares of Donegal Group stock. The shares were bought at an average cost of $16.59 per share, with a total value of $137,697.00.
• On Wednesday, November 27th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was bought at an average cost 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 shares were purchased at an average price of $16.19 per share, with a total value of $137,615.00.
• On Tuesday, November 19th, Mutual Insurance Co Donegal purchased 37,748 shares of Donegal Group stock. The stock was purchased at an average price 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 stock was purchased at an average cost of $15.93 per share, for a total transaction of $129,033.00.

Donegal Group Trading Down 2.6 %

Shares of NASDAQ:DGICA opened at $15.76 on Thursday. The company’s 50-day moving average price is $15.73 and its two-hundred day moving average price is $14.65. Donegal Group Inc. has a one year low of $12.26 and a one year high of $17.00. 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 stock has a market capitalization of $534.20 million, a PE ratio of 20.74 and a beta of -0.03.

Donegal Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.172 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 annualized dividend and a yield of 4.37%. Donegal Group’s payout ratio is presently 90.79%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in shares of Donegal Group by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock worth $1,669,000 after purchasing an additional 5,416 shares in the last quarter. Innealta Capital LLC acquired a new position in Donegal Group during the second quarter worth $27,000. Los Angeles Capital Management LLC raised its position in 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 worth $520,000 after acquiring an additional 19,707 shares in the last quarter. Hsbc Holdings PLC raised its position in Donegal Group by 7.8% during the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Donegal Group in the second quarter valued at $448,000. 27.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Donegal Group from a “buy” rating to a “strong-buy” rating in a research report 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.