Donegal Group (NASDAQ:DGICA) Reaches New 12-Month High Following Insider Buying Activity

Shares of Donegal Group Inc. (NASDAQ:DGICA) hit a new 52-week high during trading on Monday after an insider bought additional shares in the company. The stock traded as high as $17.00 and last traded at $17.00, with a volume of 1509 shares trading hands. The stock had previously closed at $16.33.

Specifically, major shareholder Mutual Insurance Co Donegal purchased 7,817 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $16.29 per share, with a total value of $127,338.93. Following the completion of the acquisition, the insider now directly owns 13,152,372 shares in the company, valued at approximately $214,252,139.88. This trade represents a 0.06 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Mutual Insurance Co Donegal acquired 8,729 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $16.37 per share, for a total transaction of $142,893.73. Following the completion of the transaction, the insider now directly owns 13,134,755 shares in the company, valued at approximately $215,015,939.35. The trade was a 0.07 % increase in their position. The disclosure for this purchase can be found here. In other news, major shareholder Mutual Insurance Co Donegal purchased 70,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were acquired at an average price of $16.61 per share, with a total value of $1,162,700.00. Following the completion of the purchase, the insider now directly owns 13,116,126 shares of the company’s stock, valued at $217,858,852.86. The trade was a 0.54 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

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

Donegal Group Trading Down 1.2 %

The business’s 50 day simple moving average is $15.71 and its 200-day simple moving average is $14.64. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $548.44 million, a P/E ratio of 21.29 and a beta of -0.03.

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $0.172 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.25%. Donegal Group’s dividend payout ratio is currently 90.79%.

Institutional Investors Weigh In On Donegal Group

Institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in Donegal Group during the second quarter valued at approximately $27,000. Martingale Asset Management L P boosted its position 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 worth $329,000 after purchasing an additional 902 shares in the last quarter. Hsbc Holdings PLC grew its holdings 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 period. Squarepoint Ops LLC bought a new stake in shares of Donegal Group in the 2nd quarter valued at $448,000. Finally, 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 buying an additional 19,707 shares during the period. 27.96% of the stock is owned by institutional investors and hedge funds.

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.