Foundry Partners LLC Increases Stock Position in Donegal Group Inc. (NASDAQ:DGICA)

Foundry Partners LLC raised its holdings in Donegal Group Inc. (NASDAQ:DGICA) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 244,600 shares of the insurance provider’s stock after purchasing an additional 2,310 shares during the quarter. Foundry Partners LLC’s holdings in Donegal Group were worth $3,605,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of DGICA. BNP Paribas Financial Markets lifted its position in shares of Donegal Group by 125.0% during the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock valued at $147,000 after acquiring an additional 5,757 shares during the period. Vanguard Group Inc. lifted its position in shares of Donegal Group by 34.7% during the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock valued at $16,728,000 after acquiring an additional 304,477 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Donegal Group by 30.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock valued at $1,072,000 after acquiring an additional 17,614 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Donegal Group by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock valued at $1,669,000 after acquiring an additional 5,416 shares during the period. Finally, Innealta Capital LLC acquired a new stake in shares of Donegal Group during the 2nd quarter valued at approximately $27,000. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Donegal Group news, Director Barry C. Huber sold 4,500 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $15.70, for a total value of $70,650.00. Following the completion of the transaction, the director now directly owns 14,867 shares in the company, valued at approximately $233,411.90. The trade was a 23.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO David Benjamin Bawel sold 9,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $15.50, for a total value of $139,500.00. Following the completion of the transaction, the chief accounting officer now owns 19,665 shares of the company’s stock, valued at $304,807.50. This trade represents a 31.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 275,712 shares of company stock worth $4,271,615 and sold 120,500 shares worth $1,870,450. Insiders own 6.63% of the company’s stock.

Analyst Ratings Changes

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

Donegal Group Trading Up 0.3 %

Shares of Donegal Group stock opened at $15.94 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $16.00. The company has a market capitalization of $540.37 million, a P/E ratio of 20.97 and a beta of -0.06. The business has a 50 day moving average price of $15.10 and a 200 day moving average price of $14.22.

Donegal Group Announces Dividend

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

About Donegal Group

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.