Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases $130,311.50 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,170 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $15.95 per share, with a total value of $130,311.50. Following the purchase, the insider now directly owns 12,561,268 shares of the company’s stock, valued at $200,352,224.60. The trade was a 0.07 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, November 13th, Mutual Insurance Co Donegal acquired 8,100 shares of Donegal Group stock. The shares were bought at an average cost of $15.93 per share, with a total value of $129,033.00.
• On Thursday, November 7th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $15.74 per share, with a total value of $133,790.00.
• On Monday, November 4th, Mutual Insurance Co Donegal purchased 4,137 shares of Donegal Group stock. The shares were acquired at an average price of $15.20 per share, with a total value of $62,882.40.
• On Thursday, October 31st, Mutual Insurance Co Donegal bought 150,432 shares of Donegal Group stock. The stock was 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 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 stock was bought at an average cost of $15.00 per share, for a total transaction of $125,850.00.
• On Monday, September 9th, Mutual Insurance Co Donegal acquired 5,865 shares of Donegal Group stock. The shares were purchased at an average cost 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 bought 9,452 shares of Donegal Group stock. The shares were purchased at an average cost of $15.24 per share, for a total transaction of $144,048.48.
• On Friday, August 30th, Mutual Insurance Co Donegal acquired 8,028 shares of Donegal Group stock. The shares were acquired at an average cost of $15.20 per share, with a total value of $122,025.60.

Donegal Group Stock Performance

Donegal Group stock opened at $15.84 on Friday. The firm has a 50-day moving average of $15.01 and a 200-day moving average of $14.12. The firm has a market cap of $530.32 million, a P/E ratio of 20.84 and a beta of -0.06. 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 1-year low of $12.26 and a 1-year high of $16.00.

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.172 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, November 1st. Donegal Group’s dividend payout ratio is currently 90.79%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DGICA. Innealta Capital LLC bought a new stake in shares of Donegal Group in the 2nd quarter worth approximately $27,000. EntryPoint Capital LLC purchased a new position in shares of Donegal Group during the first quarter valued at approximately $137,000. BNP Paribas Financial Markets grew its holdings in shares of Donegal Group by 125.0% in the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after acquiring an additional 5,757 shares during the period. Martingale Asset Management L P grew its stake 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 purchasing an additional 902 shares during the period. Finally, Hsbc Holdings PLC raised its position in Donegal Group by 7.8% in the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after acquiring an additional 2,250 shares during the period. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.