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

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 37,748 shares of the stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average price of $15.81 per share, for a total transaction of $596,795.88. Following the purchase, the insider now directly owns 12,679,138 shares in the company, valued at approximately $200,457,171.78. This trade represents a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% 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, November 13th, Mutual Insurance Co Donegal purchased 8,100 shares of Donegal Group stock. The shares were acquired at an average cost of $15.93 per share, for a total transaction of $129,033.00.
• On Monday, November 11th, Mutual Insurance Co Donegal bought 8,170 shares of Donegal Group stock. The stock was acquired at an average price of $15.95 per share, for a total transaction of $130,311.50.
• On Thursday, November 7th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $15.74 per share, with a total value 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 cost of $15.20 per share, with a total value of $62,882.40.
• On Thursday, October 31st, Mutual Insurance Co Donegal purchased 150,432 shares of Donegal Group stock. The shares were purchased at an average cost of $15.49 per share, with a total value of $2,330,191.68.
• On Friday, September 13th, Mutual Insurance Co Donegal acquired 6,005 shares of Donegal Group stock. The stock was 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 acquired 8,390 shares of Donegal Group stock. The stock was acquired at an average price of $15.00 per share, for a total transaction of $125,850.00.
• On Monday, September 9th, Mutual Insurance Co Donegal purchased 5,865 shares of Donegal Group stock. The shares were purchased at an average cost of $15.33 per share, for a total transaction of $89,910.45.
• On Thursday, September 5th, Mutual Insurance Co Donegal acquired 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 shares were bought at an average cost of $15.24 per share, for a total transaction of $144,048.48.

Donegal Group Trading Up 0.3 %

Donegal Group stock traded up $0.04 during midday trading on Thursday, hitting $15.94. 105,216 shares of the stock were exchanged, compared to its average volume of 58,003. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $16.00. The stock has a market capitalization of $540.37 million, a price-to-earnings ratio of 20.99 and a beta of -0.06. The stock’s 50-day simple moving average is $15.08 and its 200 day simple moving average is $14.20. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

Donegal Group Dividend Announcement

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

Analysts Set New Price Targets

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.

Hedge Funds Weigh In On Donegal Group

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Donegal Group by 34.7% in the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock valued at $16,728,000 after buying an additional 304,477 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Donegal Group during the 1st quarter worth about $137,000. BNP Paribas Financial Markets boosted its stake 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 worth $147,000 after purchasing an additional 5,757 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Donegal Group by 95.2% during the 2nd 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 during the period. Finally, Bank of New York Mellon Corp lifted its holdings 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 worth $1,669,000 after acquiring an additional 5,416 shares during the period. Institutional investors and hedge funds own 27.96% of the company’s stock.

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.