Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases 7,817 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 7,817 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $16.29 per share, with a total value of $127,338.93. Following the acquisition, the insider now directly owns 13,152,372 shares of the company’s stock, valued at approximately $214,252,139.88. This represents a 0.06 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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 Wednesday, December 11th, Mutual Insurance Co Donegal bought 8,729 shares of Donegal Group stock. The shares were bought at an average price of $16.37 per share, for a total transaction of $142,893.73.
• On Monday, December 9th, Mutual Insurance Co Donegal purchased 70,000 shares of Donegal Group stock. The stock was bought at an average cost of $16.61 per share, with a total value of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal acquired 270,000 shares of Donegal Group stock. The shares were 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 bought 9,522 shares of Donegal Group stock. The stock was 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 purchased 8,354 shares of Donegal Group stock. The shares were 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 acquired 8,300 shares of Donegal Group stock. The shares were purchased at an average price of $16.59 per share, with a total value of $137,697.00.
• On Wednesday, November 27th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was 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 purchased 8,500 shares of Donegal Group stock. The shares were purchased 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 acquired 37,748 shares of Donegal Group stock. The stock was acquired 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 acquired at an average price of $15.93 per share, for a total transaction of $129,033.00.

Donegal Group Stock Performance

NASDAQ:DGICA opened at $16.18 on Wednesday. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $17.00. 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 company has a 50 day moving average price of $15.71 and a 200 day moving average price of $14.64. The stock has a market capitalization of $548.44 million, a P/E ratio of 21.29 and a beta of -0.03.

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. The ex-dividend date was Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.25%. Donegal Group’s dividend payout ratio is currently 90.79%.

Institutional Investors Weigh In On Donegal Group

Several institutional investors and hedge funds have recently modified their holdings of DGICA. Innealta Capital LLC purchased a new position in Donegal Group during the 2nd quarter valued at about $27,000. Martingale Asset Management L P increased its stake in Donegal Group by 4.2% during the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock worth $329,000 after purchasing an additional 902 shares during the period. Hsbc Holdings PLC lifted its position 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 worth $389,000 after purchasing an additional 2,250 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Donegal Group in the second quarter valued at approximately $448,000. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Donegal Group by 95.2% in the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after purchasing an additional 19,707 shares in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a report 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.