Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 8,729 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,729 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average cost of $16.37 per share, with a total value of $142,893.73. Following the transaction, the insider now directly owns 13,134,755 shares of the company’s stock, valued at approximately $215,015,939.35. This trade represents a 0.07 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 Monday, December 9th, Mutual Insurance Co Donegal acquired 70,000 shares of Donegal Group stock. The stock was purchased at an average price of $16.61 per share, for a total transaction of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal purchased 270,000 shares of Donegal Group stock. The stock was acquired at an average cost of $16.66 per share, with a total value of $4,498,200.00.
• On Wednesday, December 4th, Mutual Insurance Co Donegal acquired 9,522 shares of Donegal Group stock. The shares were bought at an average price of $16.54 per share, for a total transaction of $157,493.88.
• On Monday, December 2nd, Mutual Insurance Co Donegal purchased 8,354 shares of Donegal Group stock. The stock was purchased at an average price of $16.73 per share, with a total value of $139,762.42.
• On Friday, November 29th, Mutual Insurance Co Donegal acquired 8,300 shares of Donegal Group stock. The shares were purchased 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 shares were acquired at an average cost of $16.47 per share, with a total value of $139,995.00.
• On Monday, November 25th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was bought at an average price of $16.19 per share, with a total value of $137,615.00.
• On Tuesday, November 19th, Mutual Insurance Co Donegal acquired 37,748 shares of Donegal Group stock. The shares were bought 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 stock was bought at an average price of $15.93 per share, with a total value of $129,033.00.
• On Monday, November 11th, Mutual Insurance Co Donegal purchased 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.

Donegal Group Stock Performance

NASDAQ:DGICA opened at $16.33 on Friday. The company has a 50-day moving average of $15.63 and a 200-day moving average of $14.57. The firm has a market cap of $553.59 million, a price-to-earnings ratio of 21.49 and a beta of -0.03. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a twelve month low of $12.26 and a twelve month high of $17.00.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $0.172 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Friday, November 1st. Donegal Group’s dividend payout ratio (DPR) is currently 90.79%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Donegal Group

Hedge funds have recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Donegal Group during the 2nd quarter worth approximately $27,000. Martingale Asset Management L P boosted its position in shares of Donegal Group by 4.2% in the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock worth $329,000 after buying an additional 902 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Donegal Group by 7.8% during the second 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 in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Donegal Group during the second quarter valued at $448,000. Finally, Los Angeles Capital Management LLC raised 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 buying an additional 19,707 shares during the period. Hedge funds and other institutional investors own 27.96% of the company’s stock.

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.