Donegal Group (NASDAQ:DGICA) Reaches New 52-Week High on Insider Buying Activity

Donegal Group Inc. (NASDAQ:DGICA)’s share price reached a new 52-week high during mid-day trading on Tuesday following insider buying activity. The stock traded as high as $15.35 and last traded at $15.29, with a volume of 82608 shares traded. The stock had previously closed at $15.22.

Specifically, major shareholder Mutual Insurance Co Donegal purchased 8,028 shares of Donegal Group stock in a transaction dated Friday, August 30th. The shares were acquired at an average price of $15.20 per share, with a total value of $122,025.60. Following the completion of the transaction, the insider now owns 12,260,719 shares of the company’s stock, valued at $186,362,928.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Mutual Insurance Co Donegal acquired 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average price of $15.02 per share, with a total value of $90,120.00. Following the acquisition, the insider now directly owns 12,247,299 shares of the company’s stock, valued at approximately $183,954,430.98. The disclosure for this purchase can be found here. In other Donegal Group news, major shareholder Mutual Insurance Co Donegal purchased 9,996 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was bought at an average price of $14.97 per share, with a total value of $149,640.12. Following the transaction, the insider now directly owns 12,236,099 shares of the company’s stock, valued at approximately $183,174,402.03. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Donegal Group Stock Up 0.5 %

The firm has a market cap of $511.91 million, a PE ratio of 95.56 and a beta of -0.05. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average price of $14.06 and a 200-day moving average price of $13.70.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The company had revenue of $246.77 million for the quarter, compared to the consensus estimate of $243.00 million. Donegal Group had a net margin of 0.76% and a return on equity of 0.89%. Research analysts forecast that Donegal Group Inc. will post 0.45 EPS for the current fiscal year.

Donegal Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.172 dividend. The ex-dividend date was Thursday, August 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.50%. Donegal Group’s payout ratio is currently 431.25%.

Institutional Investors Weigh In On Donegal Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new stake in Donegal Group during the second quarter worth approximately $448,000. Hsbc Holdings PLC grew its position 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 buying an additional 2,250 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in 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 in the last quarter. Innealta Capital LLC acquired a new position in Donegal Group in the second quarter valued at $27,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Donegal Group by 4.4% during the second quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock worth $1,669,000 after purchasing an additional 5,416 shares during the last quarter. 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.