Donegal Group (NASDAQ:DGICA) Sees Strong Trading Volume – Still a Buy?

Donegal Group Inc. (NASDAQ:DGICA) saw unusually-high trading volume on Monday . Approximately 101,967 shares were traded during trading, an increase of 75% from the previous session’s volume of 58,288 shares.The stock last traded at $15.98 and had previously closed at $15.98.

Analyst Ratings Changes

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

Donegal Group Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The firm’s fifty day moving average is $15.11 and its two-hundred day moving average is $14.24. The company has a market cap of $552.23 million, a P/E ratio of 21.03 and a beta of -0.06.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.172 per share. This represents a $0.69 annualized dividend and a yield of 4.22%. The ex-dividend date was Friday, November 1st. Donegal Group’s dividend payout ratio (DPR) is presently 90.79%.

Insider Buying and Selling

In other news, major shareholder Mutual Insurance Co Donegal purchased 37,748 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average cost of $15.81 per share, with a total value of $596,795.88. Following the completion of the purchase, the insider now owns 12,679,138 shares in the company, valued at approximately $200,457,171.78. This represents a 0.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Christina Marie Hoffman sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $15.82, for a total value of $474,600.00. Following the sale, the vice president now directly owns 4,289 shares in the company, valued at $67,851.98. This trade represents a 87.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 265,716 shares of company stock valued at $4,121,975 and have sold 120,500 shares valued at $1,870,450. 5.00% of the stock is owned by insiders.

Institutional Trading of Donegal Group

A number of large investors have recently made changes to their positions in the business. Martingale Asset Management L P lifted its position in 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 last quarter. Innealta Capital LLC bought a new stake in shares of Donegal Group in the 2nd quarter worth about $27,000. Hsbc Holdings PLC boosted its stake 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 worth $389,000 after purchasing an additional 2,250 shares during the period. Foundry Partners LLC grew its holdings in 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 purchasing an additional 2,310 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Donegal Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock worth $5,371,000 after purchasing an additional 4,933 shares during the period. 27.96% of the stock is currently owned by institutional investors.

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.