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

Donegal Group Inc. (NASDAQ:DGICA) reached a new 52-week high during mid-day trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $18.19 and last traded at $18.17, with a volume of 204423 shares. The stock had previously closed at $17.49.

Specifically, major shareholder Mutual Insurance Co Donegal bought 14,700 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $17.06 per share, for a total transaction of $250,782.00. Following the completion of the acquisition, the insider now owns 13,189,273 shares in the company, valued at $225,008,997.38. This trade represents a 0.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Mutual Insurance Co Donegal purchased 12,000 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were bought at an average cost of $16.49 per share, for a total transaction of $197,880.00. Following the purchase, the insider now owns 13,164,372 shares of the company’s stock, valued at $217,080,494.28. This trade represents a 0.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Donegal Group Trading Up 0.7 %

The company has a market capitalization of $608.09 million, a PE ratio of 11.80 and a beta of -0.05. 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 business has a fifty day moving average price of $15.32 and a 200 day moving average price of $15.35.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings results on Thursday, February 20th. The insurance provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.30 by $0.39. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. The firm had revenue of $249.70 million for the quarter, compared to analyst estimates of $250.61 million. Analysts expect that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were given a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 3.85%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 4th. Donegal Group’s dividend payout ratio is 45.39%.

Institutional Trading of Donegal Group

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in shares of Donegal Group by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,804,968 shares of the insurance provider’s stock valued at $27,923,000 after purchasing an additional 27,213 shares during the period. Renaissance Technologies LLC grew its holdings in Donegal Group by 29.5% during the 4th quarter. Renaissance Technologies LLC now owns 429,106 shares of the insurance provider’s stock valued at $6,638,000 after purchasing an additional 97,795 shares in the last quarter. Geode Capital Management LLC increased its stake in Donegal Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock worth $5,371,000 after buying an additional 4,933 shares during the period. Foundry Partners LLC lifted its holdings in Donegal Group by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock worth $3,605,000 after buying an additional 2,310 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Donegal Group by 124.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,746 shares of the insurance provider’s stock valued at $3,647,000 after buying an additional 130,489 shares during the last quarter. 27.96% of the stock is currently 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.