Mutual Insurance Co Donegal Acquires 8,729 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 8,729 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was bought at an average cost of $16.37 per share, with a total value of $142,893.73. Following the completion of the purchase, the insider now owns 13,134,755 shares of the company’s stock, valued at approximately $215,015,939.35. This represents a 0.07 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, December 9th, Mutual Insurance Co Donegal bought 70,000 shares of Donegal Group stock. The stock was purchased at an average price of $16.61 per share, with a total value of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal purchased 270,000 shares of Donegal Group stock. The stock was purchased at an average price of $16.66 per share, for a total transaction of $4,498,200.00.
• On Wednesday, December 4th, Mutual Insurance Co Donegal acquired 9,522 shares of Donegal Group stock. The shares were purchased at an average price of $16.54 per share, with a total value of $157,493.88.
• On Monday, December 2nd, Mutual Insurance Co Donegal bought 8,354 shares of Donegal Group stock. The stock was purchased at an average price of $16.73 per share, for a total transaction of $139,762.42.
• On Friday, November 29th, Mutual Insurance Co Donegal acquired 8,300 shares of Donegal Group stock. The shares were acquired at an average price of $16.59 per share, for a total transaction of $137,697.00.
• On Wednesday, November 27th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were acquired 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 stock was acquired at an average cost of $16.19 per share, for a total transaction of $137,615.00.
• On Tuesday, November 19th, Mutual Insurance Co Donegal acquired 37,748 shares of Donegal Group stock. The shares were bought at an average cost of $15.81 per share, with a total value of $596,795.88.
• On Wednesday, November 13th, Mutual Insurance Co Donegal bought 8,100 shares of Donegal Group stock. The stock was bought at an average price of $15.93 per share, for a total transaction 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.

Donegal Group Trading Down 0.6 %

Shares of DGICA stock opened at $16.33 on Friday. Donegal Group Inc. has a 52-week low of $12.26 and a 52-week high of $17.00. The company has a 50-day simple moving average of $15.63 and a two-hundred day simple moving average of $14.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market capitalization of $553.59 million, a price-to-earnings ratio of 21.49 and a beta of -0.03.

Donegal Group Dividend Announcement

The firm also recently declared 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. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Friday, November 1st. Donegal Group’s payout ratio is 90.79%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Martingale Asset Management L P increased its position 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 valued at $329,000 after purchasing an additional 902 shares during the last quarter. Innealta Capital LLC purchased a new stake in Donegal Group during the second quarter worth about $27,000. Hsbc Holdings PLC raised its position in Donegal Group by 7.8% in the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after acquiring an additional 2,250 shares during the period. Foundry Partners LLC boosted its stake in Donegal Group by 1.0% in the third quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock valued at $3,605,000 after acquiring an additional 2,310 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Donegal Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock valued at $5,371,000 after acquiring an additional 4,933 shares during the period. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Analysts Set New Price Targets

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

Donegal Group Company Profile

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.