Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires 37,748 Shares of Stock

by · The Markets Daily

Donegal Group Inc. (NASDAQ:DGICA – Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 37,748 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average cost of $15.81 per share, with a total value of $596,795.88. Following the purchase, the insider now owns 12,679,138 shares in the company, valued at $200,457,171.78. This represents a 0.30 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock 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 purchased at an average cost of $15.93 per share, with a total value of $129,033.00.
  • On Monday, November 11th, Mutual Insurance Co Donegal purchased 8,170 shares of Donegal Group stock. The stock was bought 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 acquired 8,500 shares of Donegal Group stock. The stock was acquired at an average price of $15.74 per share, for a total transaction of $133,790.00.
  • On Monday, November 4th, Mutual Insurance Co Donegal purchased 4,137 shares of Donegal Group stock. The shares were purchased at an average price of $15.20 per share, for a total transaction of $62,882.40.
  • On Thursday, October 31st, Mutual Insurance Co Donegal bought 150,432 shares of Donegal Group stock. The shares were 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 purchased 6,005 shares of Donegal Group stock. The shares were bought 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 shares were purchased at an average cost of $15.00 per share, with a total value of $125,850.00.
  • On Monday, September 9th, Mutual Insurance Co Donegal purchased 5,865 shares of Donegal Group stock. The stock was acquired at an average price of $15.33 per share, for a total transaction of $89,910.45.
  • On Thursday, September 5th, Mutual Insurance Co Donegal bought 4,889 shares of Donegal Group stock. The shares were bought at an average cost of $15.32 per share, for a total transaction of $74,899.48.
  • On Tuesday, September 3rd, Mutual Insurance Co Donegal acquired 9,452 shares of Donegal Group stock. The stock was acquired at an average cost of $15.24 per share, for a total transaction of $144,048.48.

Donegal Group Trading Up 0.3 %

NASDAQ:DGICA traded up $0.04 on Thursday, hitting $15.94. 105,216 shares of the stock were exchanged, compared to its average volume of 58,003. The company’s 50-day moving average price is $15.08 and its 200 day moving average price is $14.20. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $16.00. 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 stock has a market capitalization of $540.37 million, a price-to-earnings ratio of 20.99 and a beta of -0.06.

Donegal Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.172 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Friday, November 1st. Donegal Group’s payout ratio is 90.79%.

Analyst Upgrades and Downgrades

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

Read Our Latest Report on Donegal Group

Hedge Funds Weigh In On Donegal Group

Several hedge funds have recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Donegal Group during the 2nd quarter valued at $27,000. EntryPoint Capital LLC purchased a new stake in shares of Donegal Group in the first quarter worth about $137,000. BNP Paribas Financial Markets increased its holdings in shares of Donegal Group by 125.0% in the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after buying an additional 5,757 shares during the last quarter. Martingale Asset Management L P lifted 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 last quarter. Finally, Hsbc Holdings PLC grew its position in Donegal Group by 7.8% during the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock valued at $389,000 after acquiring an additional 2,250 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

Donegal Group Company Profile

(Get Free Report)

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.

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