Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Buys 8,500 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of the stock in a transaction dated Wednesday, November 27th. The stock was bought at an average price of $16.47 per share, with a total value of $139,995.00. Following the purchase, the insider now directly owns 12,729,950 shares in the company, valued at $209,662,276.50. This 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 through the SEC website. Large 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 bought 8,300 shares of Donegal Group stock. The stock was purchased at an average price of $16.59 per share, with a total value of $137,697.00.
• On Monday, November 25th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased 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 stock was purchased 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 bought 8,100 shares of Donegal Group stock. The shares were purchased at an average cost of $15.93 per share, for a total transaction of $129,033.00.
• On Monday, November 11th, Mutual Insurance Co Donegal purchased 8,170 shares of Donegal Group stock. The stock was acquired at an average cost of $15.95 per share, with a total value of $130,311.50.
• On Thursday, November 7th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $15.74 per share, for a total transaction of $133,790.00.
• On Monday, November 4th, Mutual Insurance Co Donegal acquired 4,137 shares of Donegal Group stock. The shares were acquired at an average price of $15.20 per share, with a total value of $62,882.40.
• On Thursday, October 31st, Mutual Insurance Co Donegal bought 150,432 shares of Donegal Group stock. The stock was acquired at an average price of $15.49 per share, for a total transaction of $2,330,191.68.
• On Friday, September 13th, Mutual Insurance Co Donegal purchased 6,005 shares of Donegal Group stock. The shares were bought at an average price of $15.34 per share, with a total value of $92,116.70.
• On Wednesday, September 11th, Mutual Insurance Co Donegal bought 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 Stock Down 0.8 %

Donegal Group stock opened at $16.65 on Wednesday. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $17.00. 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 firm’s 50-day simple moving average is $15.34 and its 200 day simple moving average is $14.41. The stock has a market cap of $564.44 million, a PE ratio of 21.91 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. Stockholders of record on Friday, November 1st were issued a $0.172 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Friday, November 1st. Donegal Group’s dividend payout ratio is presently 90.79%.

Institutional Trading of Donegal Group

A number of hedge funds have recently bought and sold shares of DGICA. Innealta Capital LLC purchased a new stake in Donegal Group during the second quarter worth about $27,000. Martingale Asset Management L P grew its position in shares of Donegal Group by 4.2% during the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after acquiring an additional 902 shares during the period. Hsbc Holdings PLC increased its stake in shares of Donegal Group by 7.8% during the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after purchasing an additional 2,250 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Donegal Group in the 2nd quarter worth approximately $448,000. Finally, Los Angeles Capital Management LLC lifted its stake in Donegal Group by 95.2% in the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after purchasing an additional 19,707 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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