Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires $142,893.73 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,729 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average cost of $16.37 per share, with a total value of $142,893.73. Following the acquisition, the insider now owns 13,134,755 shares of the company’s stock, valued at $215,015,939.35. This trade represents a 0.07 % increase in their ownership of the stock. The purchase 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 shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, December 9th, Mutual Insurance Co Donegal acquired 70,000 shares of Donegal Group stock. The stock was acquired at an average cost of $16.61 per share, with a total value of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal acquired 270,000 shares of Donegal Group stock. The stock was acquired at an average cost of $16.66 per share, with a total value of $4,498,200.00.
• On Wednesday, December 4th, Mutual Insurance Co Donegal purchased 9,522 shares of Donegal Group stock. The shares were purchased 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 purchased 8,354 shares of Donegal Group stock. The shares were purchased at an average price of $16.73 per share, with a total value of $139,762.42.
• On Friday, November 29th, Mutual Insurance Co Donegal purchased 8,300 shares of Donegal Group stock. The shares were purchased at an average price of $16.59 per share, with a total value of $137,697.00.
• On Wednesday, November 27th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $16.47 per share, with a total value of $139,995.00.
• On Monday, November 25th, Mutual Insurance Co Donegal purchased 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 shares were purchased at an average price of $15.81 per share, with a total value of $596,795.88.
• On Wednesday, November 13th, Mutual Insurance Co Donegal purchased 8,100 shares of Donegal Group stock. The shares were purchased at an average price of $15.93 per share, with a total value of $129,033.00.
• On Monday, November 11th, Mutual Insurance Co Donegal bought 8,170 shares of Donegal Group stock. The stock was bought at an average price of $15.95 per share, with a total value of $130,311.50.

Donegal Group Price Performance

DGICA traded down $0.17 on Friday, reaching $16.26. The company had a trading volume of 45,019 shares, compared to its average volume of 62,323. The company has a fifty day moving average of $15.59 and a 200-day moving average of $14.55. The company has a market capitalization of $551.21 million, a P/E ratio of 21.40 and a beta of -0.03. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a one year low of $12.26 and a one year high of $17.00.

Donegal Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $0.172 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a yield of 4.23%. Donegal Group’s dividend payout ratio is presently 90.79%.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in Donegal Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock valued at $5,371,000 after acquiring an additional 4,933 shares during the last quarter. 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 valued at $3,605,000 after acquiring an additional 2,310 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Donegal Group by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock valued at $1,669,000 after acquiring an additional 5,416 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 valued at $1,551,000 after acquiring an additional 47,447 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 valued at $957,000 after acquiring an additional 18,132 shares during the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of 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.