Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases $596,795.88 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 37,748 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were bought at an average price of $15.81 per share, with a total value of $596,795.88. Following the completion of the transaction, the insider now owns 12,679,138 shares in the company, valued at approximately $200,457,171.78. This trade represents a 0.30 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, November 13th, Mutual Insurance Co Donegal purchased 8,100 shares of Donegal Group stock. The stock was bought at an average cost of $15.93 per share, with a total value of $129,033.00.
• On Monday, November 11th, Mutual Insurance Co Donegal acquired 8,170 shares of Donegal Group stock. The shares were purchased at an average price of $15.95 per share, for a total transaction of $130,311.50.
• On Thursday, November 7th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $15.74 per share, for a total transaction of $133,790.00.
• On Monday, November 4th, Mutual Insurance Co Donegal purchased 4,137 shares of Donegal Group stock. The shares were purchased at an average cost of $15.20 per share, with a total value of $62,882.40.
• On Thursday, October 31st, Mutual Insurance Co Donegal acquired 150,432 shares of Donegal Group stock. The stock was purchased 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 bought 6,005 shares of Donegal Group stock. The stock was acquired at an average cost of $15.34 per share, for a total transaction of $92,116.70.
• On Wednesday, September 11th, Mutual Insurance Co Donegal purchased 8,390 shares of Donegal Group stock. The stock was acquired at an average price of $15.00 per share, for a total transaction of $125,850.00.
• On Monday, September 9th, Mutual Insurance Co Donegal acquired 5,865 shares of Donegal Group stock. The shares were acquired at an average price of $15.33 per share, with a total value of $89,910.45.
• On Thursday, September 5th, Mutual Insurance Co Donegal bought 4,889 shares of Donegal Group stock. The stock was acquired at an average price 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 stock was bought at an average cost of $15.24 per share, with a total value of $144,048.48.

Donegal Group Stock Up 0.3 %

Shares of DGICA opened at $15.98 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $16.00. The stock has a market capitalization of $541.72 million, a price-to-earnings ratio of 21.03 and a beta of -0.06. The stock has a fifty day moving average of $15.11 and a 200-day moving average of $14.24.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $0.172 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.69 annualized dividend and a yield of 4.31%. Donegal Group’s dividend payout ratio is presently 90.79%.

Wall Street Analyst Weigh In

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.

Institutional Trading of Donegal Group

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in shares of Donegal Group by 125.0% during the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock valued at $147,000 after acquiring an additional 5,757 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Donegal Group by 34.7% during the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after buying an additional 304,477 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Donegal Group in the 1st quarter valued at about $137,000. Jacobs Levy Equity Management Inc. grew its position in shares of Donegal Group by 30.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock valued at $1,072,000 after buying an additional 17,614 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Donegal Group by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock valued at $1,669,000 after buying an additional 5,416 shares during the period. 27.96% of the stock is 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.