Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Buys $133,790.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 8,500 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were acquired at an average price of $15.74 per share, for a total transaction of $133,790.00. Following the completion of the purchase, the insider now directly owns 12,544,998 shares of the company’s stock, valued at approximately $197,458,268.52. This trade represents a 0.07 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock 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 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 purchased 8,170 shares of Donegal Group stock. The shares were acquired 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 acquired 4,137 shares of Donegal Group stock. The shares were bought 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 purchased 150,432 shares of Donegal Group stock. The stock was acquired at an average cost 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, with a total value of $92,116.70.
• On Wednesday, September 11th, Mutual Insurance Co Donegal purchased 8,390 shares of Donegal Group stock. The shares were bought at an average price of $15.00 per share, with a total value of $125,850.00.
• On Monday, September 9th, Mutual Insurance Co Donegal purchased 5,865 shares of Donegal Group stock. The shares were bought 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 acquired 4,889 shares of Donegal Group stock. The stock was acquired at an average price of $15.32 per share, with a total value of $74,899.48.
• On Tuesday, September 3rd, Mutual Insurance Co Donegal acquired 9,452 shares of Donegal Group stock. The stock was acquired at an average price of $15.24 per share, with a total value of $144,048.48.
• On Friday, August 30th, Mutual Insurance Co Donegal bought 8,028 shares of Donegal Group stock. The stock was purchased at an average cost of $15.20 per share, for a total transaction of $122,025.60.

Donegal Group Stock Down 0.3 %

DGICA opened at $15.84 on Friday. The business’s fifty day simple moving average is $15.01 and its 200 day simple moving average is $14.12. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $16.00. The firm has a market cap of $530.32 million, a P/E ratio of 20.84 and a beta of -0.06.

Donegal Group Dividend Announcement

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

Hedge Funds Weigh In On Donegal Group

A number of large investors have recently modified their holdings of the company. Martingale Asset Management L P raised 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 purchasing an additional 902 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Donegal Group by 39.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock valued at $896,000 after buying an additional 17,125 shares during the period. 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 buying an additional 2,310 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Donegal Group by 82.1% during 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 purchasing an additional 47,447 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Donegal Group during the 2nd quarter valued at approximately $448,000. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.