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 purchased 8,500 shares of Donegal Group stock in a transaction on Thursday, November 7th. The stock was purchased at an average price of $15.74 per share, for a total transaction of $133,790.00. Following the completion of the transaction, the insider now owns 12,544,998 shares of the company’s stock, valued at approximately $197,458,268.52. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed 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 Monday, November 11th, Mutual Insurance Co Donegal bought 8,170 shares of Donegal Group stock. The shares were bought at an average price of $15.95 per share, for a total transaction of $130,311.50.
• On Monday, November 4th, Mutual Insurance Co Donegal purchased 4,137 shares of Donegal Group stock. The stock was 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 stock was acquired 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 purchased 6,005 shares of Donegal Group stock. The shares were acquired at an average price of $15.34 per share, for a total transaction of $92,116.70.
• On Wednesday, September 11th, Mutual Insurance Co Donegal acquired 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 purchased 5,865 shares of Donegal Group stock. The shares were acquired 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 acquired 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 bought at an average cost of $15.20 per share, with a total value of $122,025.60.
• On Wednesday, August 28th, Mutual Insurance Co Donegal purchased 6,000 shares of Donegal Group stock. The shares were acquired at an average cost of $15.02 per share, with a total value of $90,120.00.

Donegal Group Price Performance

Shares of DGICA stock traded down $0.05 during mid-day trading on Tuesday, reaching $15.85. The company’s stock had a trading volume of 42,431 shares, compared to its average volume of 55,986. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.38. The firm’s 50-day moving average is $14.99 and its two-hundred day moving average is $14.09. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $16.00. The company has a market cap of $530.66 million, a P/E ratio of 20.92 and a beta of -0.06.

Donegal Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, November 1st. Donegal Group’s dividend payout ratio is currently 90.79%.

Institutional Investors Weigh In On Donegal Group

A number of large investors have recently added to or reduced their stakes in the stock. Foundry Partners LLC raised its position in shares of Donegal Group by 1.0% in the third quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock worth $3,605,000 after buying an additional 2,310 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake 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 worth $1,551,000 after purchasing an additional 47,447 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Donegal Group in the 2nd quarter worth approximately $448,000. Hsbc Holdings PLC boosted its holdings in shares of Donegal Group by 7.8% in the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock valued at $389,000 after purchasing an additional 2,250 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in Donegal Group by 95.2% during the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after acquiring an additional 19,707 shares during the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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.

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.