Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Buys $137,697.00 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal bought 8,300 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was purchased at an average cost of $16.59 per share, for a total transaction of $137,697.00. Following the completion of the transaction, the insider now owns 12,738,250 shares of the company’s stock, valued at $211,327,567.50. This represents a 0.07 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 Monday, December 2nd, Mutual Insurance Co Donegal purchased 8,354 shares of Donegal Group stock. The shares were bought at an average price of $16.73 per share, with a total value of $139,762.42.
• On Wednesday, November 27th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were bought at an average price 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 shares were bought at an average price of $16.19 per share, with a total value of $137,615.00.
• On Tuesday, November 19th, Mutual Insurance Co Donegal purchased 37,748 shares of Donegal Group stock. The shares were bought at an average price of $15.81 per share, with a total value of $596,795.88.
• On Wednesday, November 13th, Mutual Insurance Co Donegal purchased 8,100 shares of Donegal Group stock. The shares were bought at an average price 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 bought at an average price of $15.95 per share, with a total value of $130,311.50.
• On Thursday, November 7th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were bought at an average price of $15.74 per share, with a total value of $133,790.00.
• On Monday, November 4th, Mutual Insurance Co Donegal bought 4,137 shares of Donegal Group stock. The stock was acquired 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 acquired 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 shares were acquired at an average cost of $15.34 per share, for a total transaction of $92,116.70.

Donegal Group Stock Down 0.4 %

Shares of Donegal Group stock opened at $16.59 on Thursday. The stock has a market capitalization of $562.33 million, a P/E ratio of 21.83 and a beta of -0.03. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average price of $15.38 and a two-hundred day moving average price of $14.42. Donegal Group Inc. has a 12-month low of $12.26 and a 12-month high of $17.00.

Donegal Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders 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 dividend on an annualized basis and a yield of 4.15%. Donegal Group’s payout ratio is currently 90.79%.

Institutional Investors Weigh In On Donegal Group

Large investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in Donegal Group during the second quarter worth approximately $27,000. Martingale Asset Management L P boosted its position in shares of Donegal Group by 4.2% in the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after acquiring an additional 902 shares during the period. Hsbc Holdings PLC boosted its position in shares of Donegal Group by 7.8% in 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 period. Squarepoint Ops LLC bought a new stake in shares of Donegal Group in the second quarter valued at approximately $448,000. Finally, Los Angeles Capital Management LLC boosted its position in shares of Donegal Group by 95.2% in the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after acquiring an additional 19,707 shares during the period. Institutional investors own 27.96% of the company’s stock.

Analysts Set New Price Targets

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.