Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires $129,033.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,100 shares of Donegal Group stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $15.93 per share, with a total value of $129,033.00. Following the completion of the transaction, the insider now owns 12,577,768 shares of the company’s stock, valued at approximately $200,363,844.24. This trade represents a 0.06 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more 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, November 11th, Mutual Insurance Co Donegal bought 8,170 shares of Donegal Group stock. The shares were acquired at an average cost 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 acquired 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 shares were bought 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 purchased 6,005 shares of Donegal Group stock. The stock was bought at an average cost 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 shares were purchased at an average cost of $15.00 per share, for a total transaction of $125,850.00.
• On Monday, September 9th, Mutual Insurance Co Donegal purchased 5,865 shares of Donegal Group stock. The shares were purchased at an average cost of $15.33 per share, with a total value of $89,910.45.
• On Thursday, September 5th, Mutual Insurance Co Donegal acquired 4,889 shares of Donegal Group stock. The stock was purchased at an average cost of $15.32 per share, for a total transaction of $74,899.48.
• On Tuesday, September 3rd, Mutual Insurance Co Donegal bought 9,452 shares of Donegal Group stock. The shares were purchased at an average cost of $15.24 per share, with a total value of $144,048.48.
• On Friday, August 30th, Mutual Insurance Co Donegal purchased 8,028 shares of Donegal Group stock. The stock was acquired at an average price of $15.20 per share, for a total transaction of $122,025.60.

Donegal Group Price Performance

Shares of NASDAQ:DGICA opened at $15.79 on Friday. The company has a market capitalization of $528.65 million, a PE ratio of 20.78 and a beta of -0.06. 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 stock has a fifty day moving average of $15.04 and a 200-day moving average of $14.16. Donegal Group Inc. has a one year low of $12.26 and a one year high of $16.00.

Donegal Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.172 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Friday, November 1st. Donegal Group’s dividend payout ratio is 90.79%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Donegal Group

Institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new position in Donegal Group in the 2nd quarter worth approximately $27,000. EntryPoint Capital LLC purchased a new stake in shares of Donegal Group in the first quarter valued at $137,000. BNP Paribas Financial Markets boosted its position in shares of Donegal Group by 125.0% in the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after buying an additional 5,757 shares during the period. Martingale Asset Management L P grew its holdings in shares of Donegal Group by 4.2% during the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after buying an additional 902 shares in the last quarter. Finally, 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 valued at $389,000 after buying an additional 2,250 shares during the period. Hedge funds and other institutional investors own 27.96% of the company’s stock.

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.