Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires $1,162,700.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 70,000 shares of Donegal Group stock in a transaction on Monday, December 9th. The shares were bought at an average cost of $16.61 per share, with a total value of $1,162,700.00. Following the completion of the purchase, the insider now owns 13,116,126 shares in the company, valued at $217,858,852.86. The trade was a 0.54 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Friday, December 6th, Mutual Insurance Co Donegal bought 270,000 shares of Donegal Group stock. The stock was bought at an average cost of $16.66 per share, for a total transaction of $4,498,200.00.
• On Wednesday, December 4th, Mutual Insurance Co Donegal purchased 9,522 shares of Donegal Group stock. The shares were bought at an average cost of $16.54 per share, with a total value of $157,493.88.
• On Monday, December 2nd, Mutual Insurance Co Donegal acquired 8,354 shares of Donegal Group stock. The stock was purchased at an average cost of $16.73 per share, for a total transaction of $139,762.42.
• On Friday, November 29th, Mutual Insurance Co Donegal bought 8,300 shares of Donegal Group stock. The stock was purchased at an average cost of $16.59 per share, for a total transaction of $137,697.00.
• On Wednesday, November 27th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased 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 acquired 8,500 shares of Donegal Group stock. The stock was 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 shares were acquired at an average cost of $15.81 per share, with a total value of $596,795.88.
• On Wednesday, November 13th, Mutual Insurance Co Donegal acquired 8,100 shares of Donegal Group stock. The shares were acquired at an average cost 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 stock was acquired 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 purchased 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $15.74 per share, for a total transaction of $133,790.00.

Donegal Group Price Performance

NASDAQ DGICA traded up $0.21 during mid-day trading on Wednesday, hitting $16.47. The stock had a trading volume of 99,838 shares, compared to its average volume of 62,167. The company has a 50 day simple moving average of $15.51 and a 200 day simple moving average of $14.52. The company has a market cap of $558.33 million, a price-to-earnings ratio of 21.68 and a beta of -0.03. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $17.00. 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 Announces Dividend

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 $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Friday, November 1st. Donegal Group’s dividend payout ratio is currently 90.79%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Donegal Group by 34.7% during the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock valued at $16,728,000 after buying an additional 304,477 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Donegal Group by 82.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock valued at $1,551,000 after acquiring an additional 47,447 shares during the last quarter. Los Angeles Capital Management LLC increased its position in 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 worth $520,000 after purchasing an additional 19,707 shares in the last quarter. Bank of New York Mellon Corp increased its position in Donegal Group by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock worth $1,669,000 after purchasing an additional 5,416 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Donegal Group in the 2nd quarter valued at about $448,000. Institutional investors and hedge funds 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.