Mutual Insurance Co Donegal Buys 9,522 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 9,522 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was purchased at an average cost of $16.54 per share, for a total transaction of $157,493.88. Following the completion of the acquisition, the insider now directly owns 12,766,126 shares of the company’s stock, valued at approximately $211,151,724.04. This trade represents a 0.07 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Major 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 2nd, Mutual Insurance Co Donegal bought 8,354 shares of Donegal Group stock. The shares were purchased at an average cost 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 bought 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 bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $16.47 per share, for a total transaction of $139,995.00.
• On Monday, November 25th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were acquired at an average cost of $16.19 per share, with a total value of $137,615.00.
• On Tuesday, November 19th, Mutual Insurance Co Donegal purchased 37,748 shares of Donegal Group stock. The stock was purchased 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 stock was bought at an average price of $15.93 per share, for a total transaction of $129,033.00.
• On Monday, November 11th, Mutual Insurance Co Donegal purchased 8,170 shares of Donegal Group stock. The shares were acquired at an average cost of $15.95 per share, for a total transaction of $130,311.50.
• 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, for a total transaction of $133,790.00.
• On Monday, November 4th, Mutual Insurance Co Donegal bought 4,137 shares of Donegal Group stock. The stock was acquired at an average cost of $15.20 per share, for a total transaction of $62,882.40.
• On Thursday, October 31st, Mutual Insurance Co Donegal acquired 150,432 shares of Donegal Group stock. The shares were acquired at an average cost of $15.49 per share, with a total value of $2,330,191.68.

Donegal Group Stock Performance

NASDAQ DGICA traded down $0.20 during trading hours on Friday, hitting $16.50. The company had a trading volume of 12,634 shares, compared to its average volume of 61,231. The business has a 50 day moving average of $15.41 and a 200-day moving average of $14.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. Donegal Group Inc. has a 1-year low of $12.26 and a 1-year high of $17.00. The company has a market cap of $559.35 million, a PE ratio of 21.97 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. Shareholders of record on Friday, November 1st were given a dividend of $0.172 per share. This represents a $0.69 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, November 1st. Donegal Group’s dividend payout ratio (DPR) is 90.79%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Donegal Group

Several large investors have recently modified their holdings of DGICA. Martingale Asset Management L P grew its stake in shares of Donegal Group by 4.2% in 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 last quarter. Innealta Capital LLC acquired a new position in Donegal Group in the 2nd quarter valued at $27,000. Hsbc Holdings PLC lifted its stake in shares of Donegal Group by 7.8% in the 2nd 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. Foundry Partners LLC increased its stake in shares of Donegal Group by 1.0% during the third quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock worth $3,605,000 after acquiring an additional 2,310 shares during the period. Finally, Geode Capital Management LLC boosted its holdings 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 valued at $5,371,000 after purchasing an additional 4,933 shares in the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

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.