Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Acquires $2,330,191.68 in Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal purchased 150,432 shares of Donegal Group stock in a transaction dated Thursday, October 31st. The shares were acquired at an average cost of $15.49 per share, for a total transaction of $2,330,191.68. Following the completion of the transaction, the insider now owns 12,502,366 shares of the company’s stock, valued at approximately $193,661,649.34. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Friday, September 13th, Mutual Insurance Co Donegal purchased 6,005 shares of Donegal Group stock. The stock was acquired at an average cost of $15.34 per share, for a total transaction of $92,116.70.
• On Wednesday, September 11th, Mutual Insurance Co Donegal purchased 8,390 shares of Donegal Group stock. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $125,850.00.
• On Monday, September 9th, Mutual Insurance Co Donegal bought 5,865 shares of Donegal Group stock. The shares were purchased at an average cost of $15.33 per share, for a total transaction of $89,910.45.
• On Thursday, September 5th, Mutual Insurance Co Donegal bought 4,889 shares of Donegal Group stock. The shares were purchased at an average cost of $15.32 per share, for a total transaction of $74,899.48.
• On Tuesday, September 3rd, Mutual Insurance Co Donegal acquired 9,452 shares of Donegal Group stock. The stock was purchased at an average price of $15.24 per share, for a total transaction of $144,048.48.
• On Friday, August 30th, Mutual Insurance Co Donegal acquired 8,028 shares of Donegal Group stock. The stock was purchased at an average price of $15.20 per share, for a total transaction of $122,025.60.
• On Wednesday, August 28th, Mutual Insurance Co Donegal acquired 6,000 shares of Donegal Group stock. The stock was purchased at an average price of $15.02 per share, for a total transaction of $90,120.00.
• On Monday, August 26th, Mutual Insurance Co Donegal bought 9,996 shares of Donegal Group stock. The stock was acquired at an average cost of $14.97 per share, for a total transaction of $149,640.12.
• On Friday, August 23rd, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $14.93 per share, for a total transaction of $149,300.00.
• On Wednesday, August 21st, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $14.76 per share, for a total transaction of $125,460.00.

Donegal Group Stock Performance

Shares of DGICA stock opened at $15.15 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.07. Donegal Group Inc. has a 12 month low of $12.26 and a 12 month high of $15.84. The company has a market cap of $507.22 million, a P/E ratio of 19.93 and a beta of -0.06. The firm has a fifty day moving average price of $14.93 and a 200 day moving average price of $14.02.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.172 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.54%. Donegal Group’s payout ratio is 90.79%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DGICA. Innealta Capital LLC acquired a new stake in shares of Donegal Group in the second quarter valued at approximately $27,000. Hsbc Holdings PLC increased its stake in Donegal Group by 7.8% during the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after buying an additional 2,250 shares during the period. Bank of New York Mellon Corp increased its stake in Donegal Group by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock worth $1,669,000 after buying an additional 5,416 shares during the period. BNP Paribas Financial Markets grew its holdings in Donegal Group by 125.0% during the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after acquiring an additional 5,757 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Donegal Group by 8.2% in the 1st quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock valued at $1,573,000 after buying an additional 8,400 shares during the period. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.