Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 8,354 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,354 shares of the stock in a transaction dated Monday, December 2nd. The stock was acquired at an average cost of $16.73 per share, with a total value of $139,762.42. Following the transaction, the insider now directly owns 12,746,604 shares in the company, valued at approximately $213,250,684.92. This represents a 0.07 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 Friday, November 29th, Mutual Insurance Co Donegal bought 8,300 shares of Donegal Group stock. The shares were acquired at an average price of $16.59 per share, for a total transaction of $137,697.00.
• On Wednesday, November 27th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.47 per share, for a total transaction of $139,995.00.
• On Monday, November 25th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.19 per share, for a total transaction of $137,615.00.
• On Tuesday, November 19th, Mutual Insurance Co Donegal acquired 37,748 shares of Donegal Group stock. The stock was purchased 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 acquired 8,100 shares of Donegal Group stock. The stock was purchased 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 acquired 8,170 shares of Donegal Group stock. The stock was 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 acquired 8,500 shares of Donegal Group stock. The stock was purchased 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 acquired 4,137 shares of Donegal Group stock. The stock was purchased 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 price 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 shares were bought at an average price of $15.34 per share, for a total transaction of $92,116.70.

Donegal Group Trading Down 0.4 %

Shares of Donegal Group stock opened at $16.59 on Thursday. The stock has a market cap of $562.40 million, a P/E ratio of 21.83 and a beta of -0.03. 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’s 50 day simple moving average is $15.38 and its 200-day simple moving average is $14.42. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $17.00.

Donegal Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.172 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Friday, November 1st. Donegal Group’s payout ratio is presently 90.79%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Donegal Group

Institutional investors have recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Donegal Group during the 2nd quarter valued at approximately $27,000. Martingale Asset Management L P raised its position in shares of Donegal Group by 4.2% during the 3rd 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 during the period. Hsbc Holdings PLC raised its position in shares of Donegal Group by 7.8% during the 2nd 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. Squarepoint Ops LLC purchased a new stake in shares of Donegal Group during the 2nd quarter valued at approximately $448,000. Finally, Los Angeles Capital Management LLC raised its position in shares of Donegal Group by 95.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after buying an additional 19,707 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.