Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires $139,995.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock in a transaction that occurred on Wednesday, November 27th. The shares were purchased at an average price of $16.47 per share, with a total value of $139,995.00. Following the transaction, the insider now owns 12,729,950 shares of the company’s stock, valued at $209,662,276.50. The trade was a 0.07 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 Friday, November 29th, Mutual Insurance Co Donegal bought 8,300 shares of Donegal Group stock. The shares were bought at an average cost 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 acquired 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 bought 37,748 shares of Donegal Group stock. The stock was acquired at an average price of $15.81 per share, for a total transaction of $596,795.88.
• On Wednesday, November 13th, Mutual Insurance Co Donegal bought 8,100 shares of Donegal Group stock. The shares were acquired at an average price of $15.93 per share, for a total transaction of $129,033.00.
• On Monday, November 11th, Mutual Insurance Co Donegal bought 8,170 shares of Donegal Group stock. The shares were purchased 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 stock was 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 purchased 4,137 shares of Donegal Group stock. The shares were acquired 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 purchased at an average price of $15.49 per share, with a total value of $2,330,191.68.
• On Friday, September 13th, Mutual Insurance Co Donegal acquired 6,005 shares of Donegal Group stock. The stock was purchased 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 bought 8,390 shares of Donegal Group stock. The stock was purchased at an average cost of $15.00 per share, with a total value of $125,850.00.

Donegal Group Stock Down 0.5 %

DGICA traded down $0.09 on Monday, reaching $16.55. The company’s stock had a trading volume of 22,957 shares, compared to its average volume of 60,250. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $16.69. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market cap of $561.05 million, a price-to-earnings ratio of 21.78 and a beta of -0.06. The business’s 50 day moving average is $15.25 and its 200 day moving average is $14.36.

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.172 per share. 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 4.16%. Donegal Group’s payout ratio is currently 90.79%.

Hedge Funds Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Martingale Asset Management L P grew its holdings in shares of Donegal Group by 4.2% in the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock worth $329,000 after acquiring an additional 902 shares during the last quarter. Innealta Capital LLC acquired a new stake in Donegal Group during the second quarter valued at $27,000. Hsbc Holdings PLC increased its holdings in Donegal Group by 7.8% in the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after buying an additional 2,250 shares during the last quarter. Foundry Partners LLC raised its holdings in shares of Donegal Group by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock valued at $3,605,000 after purchasing an additional 2,310 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Donegal Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock valued at $5,371,000 after buying an additional 4,933 shares in the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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