Dakota Wealth Management Reduces Holdings in Donegal Group Inc. (NASDAQ:DGICA)

Dakota Wealth Management lessened its position in shares of Donegal Group Inc. (NASDAQ:DGICA) by 45.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,206 shares of the insurance provider’s stock after selling 20,531 shares during the quarter. Dakota Wealth Management owned about 0.07% of Donegal Group worth $357,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new position in Donegal Group during the second quarter worth about $27,000. EntryPoint Capital LLC acquired a new stake in Donegal Group in the 1st quarter valued at approximately $137,000. BNP Paribas Financial Markets increased its holdings in Donegal Group by 125.0% in the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock valued at $147,000 after purchasing an additional 5,757 shares during the last quarter. 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 valued at $389,000 after purchasing an additional 2,250 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Donegal Group during the second quarter worth $448,000. 27.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Donegal Group Trading Up 1.7 %

Shares of DGICA stock opened at $15.42 on Tuesday. The stock has a market capitalization of $514.92 million, a P/E ratio of 96.38 and a beta of -0.06. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $15.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.39. The company has a 50 day moving average price of $14.88 and a 200 day moving average price of $13.96.

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.172 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date is Friday, November 1st. Donegal Group’s dividend payout ratio is currently 431.25%.

Insider Activity

In related news, major shareholder Mutual Insurance Co Donegal acquired 3,848 shares of the stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $14.13 per share, with a total value of $54,372.24. Following the completion of the transaction, the insider now owns 12,143,459 shares in the company, valued at $171,587,075.67. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Mutual Insurance Co Donegal purchased 3,848 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $14.13 per share, for a total transaction of $54,372.24. Following the purchase, the insider now directly owns 12,143,459 shares of the company’s stock, valued at $171,587,075.67. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Vincent Anthony Viozzi sold 30,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $15.24, for a total transaction of $457,200.00. Following the transaction, the vice president now directly owns 9,891 shares in the company, valued at $150,738.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 130,413 shares of company stock worth $1,927,144. Corporate insiders own 6.63% of the company’s stock.

Donegal Group 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.