Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires $1,162,700.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 70,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was acquired at an average price of $16.61 per share, for a total transaction of $1,162,700.00. Following the completion of the acquisition, the insider now directly owns 13,116,126 shares of the company’s stock, valued at $217,858,852.86. This trade represents a 0.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Large 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 Wednesday, December 11th, Mutual Insurance Co Donegal purchased 8,729 shares of Donegal Group stock. The stock was bought at an average cost of $16.37 per share, for a total transaction of $142,893.73.
• 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, with a total value of $4,498,200.00.
• On Wednesday, December 4th, Mutual Insurance Co Donegal bought 9,522 shares of Donegal Group stock. The shares were bought at an average price of $16.54 per share, for a total transaction of $157,493.88.
• On Monday, December 2nd, Mutual Insurance Co Donegal purchased 8,354 shares of Donegal Group stock. The stock was bought 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 purchased at an average cost of $16.59 per share, for a total transaction 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 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 stock was purchased 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 acquired 37,748 shares of Donegal Group stock. The shares were acquired at an average cost 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 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 shares were acquired at an average cost of $15.95 per share, for a total transaction of $130,311.50.

Donegal Group Trading Down 0.6 %

Shares of NASDAQ:DGICA opened at $16.33 on Friday. The firm has a market cap of $553.59 million, a price-to-earnings ratio of 21.40 and a beta of -0.03. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $17.00. The company’s fifty day simple moving average is $15.59 and its 200 day simple moving average is $14.55. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07.

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 issued a $0.172 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.21%. Donegal Group’s dividend payout ratio (DPR) is 90.79%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Innealta Capital LLC bought a new position in Donegal Group in the second quarter valued at $27,000. Martingale Asset Management L P boosted 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 worth $329,000 after buying an additional 902 shares during the last quarter. Hsbc Holdings PLC grew its holdings 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 valued at $389,000 after acquiring an additional 2,250 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Donegal Group in the second quarter valued at about $448,000. Finally, Los Angeles Capital Management LLC raised its holdings in Donegal Group by 95.2% during the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock worth $520,000 after acquiring an additional 19,707 shares in the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.