Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Acquires 270,000 Shares

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 270,000 shares of Donegal Group stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $16.66 per share, with a total value of $4,498,200.00. Following the completion of the acquisition, the insider now owns 13,046,126 shares of the company’s stock, valued at $217,348,459.16. This trade represents a 2.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Major 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 Wednesday, December 4th, Mutual Insurance Co Donegal purchased 9,522 shares of Donegal Group stock. The shares were purchased at an average cost of $16.54 per share, for a total transaction of $157,493.88.
• On Monday, December 2nd, Mutual Insurance Co Donegal acquired 8,354 shares of Donegal Group stock. The stock was purchased at an average cost of $16.73 per share, with a total value of $139,762.42.
• On Friday, November 29th, Mutual Insurance Co Donegal acquired 8,300 shares of Donegal Group stock. The stock was acquired at an average cost of $16.59 per share, with a total value of $137,697.00.
• On Wednesday, November 27th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were bought at an average cost 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 purchased 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 purchased 37,748 shares of Donegal Group stock. The stock was purchased 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 purchased 8,100 shares of Donegal Group stock. The stock was purchased 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 acquired 8,170 shares of Donegal Group stock. The shares were acquired at an average cost of $15.95 per share, with a total value of $130,311.50.
• On Thursday, November 7th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was acquired at an average price 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 acquired at an average price of $15.20 per share, with a total value of $62,882.40.

Donegal Group Stock Down 0.8 %

Shares of NASDAQ:DGICA opened at $16.35 on Tuesday. The firm has a market capitalization of $554.27 million, a PE ratio of 21.51 and a beta of -0.03. 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 52-week low of $12.26 and a 52-week high of $17.00. The firm has a fifty day moving average of $15.48 and a 200 day moving average of $14.50.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Friday, November 1st. Donegal Group’s payout ratio is currently 90.79%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Donegal Group

A number of large investors have recently modified their holdings of DGICA. Innealta Capital LLC purchased a new position in Donegal Group in the 2nd quarter worth $27,000. Martingale Asset Management L P grew its stake in shares of Donegal Group by 4.2% during the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after buying an additional 902 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Donegal Group by 7.8% during the second 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. Squarepoint Ops LLC purchased a new position in shares of Donegal Group in the second quarter worth about $448,000. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Donegal Group by 95.2% in the 2nd 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 last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.