Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 8,170 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 8,170 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $15.95 per share, with a total value of $130,311.50. Following the completion of the transaction, the insider now directly owns 12,561,268 shares of the company’s stock, valued at $200,352,224.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Thursday, November 7th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was bought 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 purchased 4,137 shares of Donegal Group stock. The shares were bought at an average price of $15.20 per share, with a total value of $62,882.40.
• On Thursday, October 31st, Mutual Insurance Co Donegal acquired 150,432 shares of Donegal Group stock. The stock was 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 bought 6,005 shares of Donegal Group stock. The stock was purchased at an average cost of $15.34 per share, for a total transaction 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 price of $15.00 per share, with a total value of $125,850.00.
• On Monday, September 9th, Mutual Insurance Co Donegal acquired 5,865 shares of Donegal Group stock. The stock was purchased 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 purchased at an average price of $15.32 per share, with a total value of $74,899.48.
• On Tuesday, September 3rd, Mutual Insurance Co Donegal purchased 9,452 shares of Donegal Group stock. The shares were acquired at an average price of $15.24 per share, for a total transaction of $144,048.48.
• On Friday, August 30th, Mutual Insurance Co Donegal acquired 8,028 shares of Donegal Group stock. The stock was acquired at an average cost of $15.20 per share, with a total value of $122,025.60.
• On Wednesday, August 28th, Mutual Insurance Co Donegal bought 6,000 shares of Donegal Group stock. The shares were acquired at an average cost of $15.02 per share, for a total transaction of $90,120.00.

Donegal Group Stock Performance

Shares of Donegal Group stock opened at $15.89 on Thursday. The business has a 50-day simple moving average of $15.00 and a 200-day simple moving average of $14.11. 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 one year low of $12.26 and a one year high of $16.00. The company has a market cap of $532.00 million, a PE ratio of 20.99 and a beta of -0.06.

Donegal Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.172 per share. This represents a $0.69 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Friday, November 1st. Donegal Group’s dividend payout ratio (DPR) is presently 90.79%.

Institutional Investors Weigh In On Donegal Group

A number of hedge funds and other institutional investors have recently modified their holdings of DGICA. Vanguard Group Inc. grew its stake in shares of Donegal Group by 34.7% during the first quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after purchasing an additional 304,477 shares in the last quarter. Foundry Partners LLC lifted its holdings in Donegal Group by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock worth $3,605,000 after buying an additional 2,310 shares during the last quarter. Bank of New York Mellon Corp boosted 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 worth $1,669,000 after acquiring an additional 5,416 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Donegal Group by 8.2% during the 1st quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock worth $1,573,000 after acquiring an additional 8,400 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Donegal Group by 82.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock valued at $1,551,000 after acquiring an additional 47,447 shares during the last quarter. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded 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.