Connor Clark & Lunn Investment Management Ltd. Has $1.55 Million Stock Holdings in Donegal Group Inc. (NASDAQ:DGICA)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Donegal Group Inc. (NASDAQ:DGICA) by 82.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 105,257 shares of the insurance provider’s stock after purchasing an additional 47,447 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.31% of Donegal Group worth $1,551,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of DGICA. Vanguard Group Inc. lifted its stake in shares of Donegal Group by 34.7% during the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after buying an additional 304,477 shares during the last quarter. Bank of New York Mellon Corp lifted its position in 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 acquiring an additional 5,416 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Donegal Group by 30.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock worth $1,072,000 after acquiring an additional 17,614 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Donegal Group by 95.2% in the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after purchasing an additional 19,707 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Donegal Group during the second quarter worth approximately $448,000. Institutional investors and hedge funds own 27.96% of the company’s stock.

Donegal Group Trading Up 0.9 %

Shares of DGICA stock opened at $16.44 on Wednesday. The stock has a 50 day simple moving average of $15.15 and a 200 day simple moving average of $14.29. Donegal Group Inc. has a 1 year low of $12.26 and a 1 year high of $16.65. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The stock has a market cap of $557.32 million, a P/E ratio of 21.63 and a beta of -0.06.

Donegal Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Friday, November 1st. Donegal Group’s dividend payout ratio (DPR) is presently 90.79%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Donegal Group news, VP Christina Marie Hoffman sold 30,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $15.82, for a total transaction of $474,600.00. Following the completion of the transaction, the vice president now owns 4,289 shares of the company’s stock, valued at approximately $67,851.98. The trade was a 87.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Mutual Insurance Co Donegal bought 4,137 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $15.20 per share, with a total value of $62,882.40. Following the acquisition, the insider now directly owns 12,514,232 shares of the company’s stock, valued at approximately $190,216,326.40. The trade was a 0.03 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 259,716 shares of company stock worth $4,031,855 and have sold 120,500 shares worth $1,870,450. Corporate insiders own 5.00% 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.